Everyone can face such an unpleasant situation as a refusal to issue a loan. Often this happens for unexplained reasons. What to do if they do not give a loan? How to find out the reason for refusal? How to fix a credit history and remove yourself from all blacklists? Let's try to find answers to these questions together.
Why do banks refuse
Almost every person in his life faced an acute shortage of funds. Delayed salaries, unplanned financial expenses, force majeure situations - these are the most common causes of this situation. It would seem that you can borrow money from a neighbor, immediate family member, work colleague or friend. However, practice shows that recently no one has extra money. Fortunately, the services of Russian banks can quickly solve any financial problems and get the right amount. But not so simple.
Often after the application is submitted, the client is refused a loan. Why is this happening? What to do if they do not give a loan? How to find out the reason for refusal? It should be noted right away that the bank has the right not to explain the reason for such a decision. But money is needed, and another attempt to get it ends in failure. What to do if they do not give a loan? Let's first understand the main reasons for the negative decision of the bank.
Meet by clothes
Paradoxical as it may seem, the appearance and behavior of the potential borrower play an important role. The loan officer must pay attention to the appearance and behavior of his client.
Self-doubt, nervousness, untidiness - all this negatively affects the impression of the applicant and the decision of the bank. If the client is confused in the answers, constantly hides his eyes, looks away, hesitates, then the loan officer will begin to doubt the solvency of the applicant and the integrity of his financial reputation.
Therefore, a personal visit to the bank should be given special attention. Well-groomed appearance, clean clothes of a neutral style, as well as confidence in the eyes can help get what you want.
There is never much money
Low income is another reason why a bank has the right to refuse its client. What if you do not give a loan in this case? First, find out the size of interest rates and the size of the monthly payment.
When applying for a loan, the solvency of the applicant is examined in detail - information on the specified source of income and its level is checked. If the applicant’s salary is not enough to fulfill loan obligations (taking into account all mandatory payments), the bank will refuse to issue a loan.
But too high a level of income can cause a negative decision of the bank. The fact is that an overly solvent client will be able to repay the loan prematurely, which means that the financial institution will lose its profit.
What to do if they do not give a loan? First of all, you need to look for the cause of the failure. And one of the most common is a bad credit history. Let us dwell on this concept in more detail.
Borrower financial standing
Priority is being given to this moment. The credit history of the client is thoroughly checked, and based on the information received, conclusions are drawn about the creditworthiness of the applicant.
The bank should check if their potential client is sitting in a debt hole. To exclude the possibility of failure, the borrower must make sure personally that his financial reputation is impeccable. To do this, it is enough to send a request to the BCI (credit bureau), after which the client will be able to find out if there are any old debts on it.
It is noteworthy that some banks do not give a loan if there is no credit history at all. They do not have information about the solvency of the client, and they do not want to take risks.
Other reasons for refusal
What to do if they do not give a loan and do not say the reason for the refusal? Trying to determine what was the reason for the negative decision of the bank.
Inconsistency with the age criterion is another reason why a potential borrower may receive an SMS notification with the text "Loan denied." Few Russian banks issue loans immediately after reaching adulthood. However, the young applicant must be 21 or even 23 years old. This is due to the fact that the 18-year-old client is in the so-called risk group (he can be taken into the army, he can study at a university on a full-time basis, that is, it will be difficult to repay a loan to such an applicant).
Banks that make their customers loyal requirements (with regard to age restrictions) most often offer somewhat harsh credit conditions (increased interest rates, short periods, etc.).
A criminal record is an obvious reason for refusal. A person with a tarnished reputation will not be able to get a loan from a large Russian bank. The maximum that he can count on is a loan to MFIs.
A woman with obvious signs of pregnancy will not receive a loan, because after the birth of the baby she will be deprived of a constant source of income.
Do not give a loan. What to do?
It is worth understanding the algorithm in accordance with which the bank decides whether to grant a loan or not. The client submits an application for a loan, indicating the amount of the requested amount and the desired loan term. If a potential borrower knows that his financial reputation is impeccable, he meets the age criteria and has a constant income, you can collect all the necessary documents in parallel.
Upon receiving the application, the bank begins to analyze the data: it checks whether the applicant has a constant source of official income, compares its size and the amount of the monthly payment, and also sends a request to the BCI. The time for considering the application is different: some banks check quickly (within 2-3 business days), others may delay with a preliminary decision for a week. Much depends on the size of the requested loan. So, if we are talking about a small amount for consumer needs, the bank can inform about its decision directly on the day of application. In the event that the client claims to receive a mortgage loan, you can wait a month from the loan officer for a whole month.
What happens next
The applicant receives a notification of the preliminary decision of the bank, after which he needs to come to the office in person to sign a loan agreement. However, in some cases, the client is denied a loan for unknown reasons.
Do not give a loan? What to do with it? You should not call the bank and try to find out why it is refused, since the employees of the credit department have the right not to disclose information about the reason for the refusal. You should try to figure it out on your own. For this, it is necessary to study such factors in detail:
- Credit history status.
- Compliance with age criteria.
- Source of official income and size of the latter.
It so happens that banks do not give credit. What if the cause of the failure is inexplicable? Try your luck at another financial institution.
Perhaps there is more luck.
Why do banks not give loans? What to do? Where to find the missing amount? Sometimes Russian banks suspend the issuance of loans due to the difficult economic situation in the country. This does not happen often, but this factor also needs to be taken into account.
Useful Tips
What if no one gives a loan? What to do with it? Here are some relevant suggestions that will help resolve the financial problem:
- If you need a small amount, you can contact the MFI. Microfinance organizations easily issue small loans to almost everyone. They do not look at the state of the credit history and do not pay attention to the level of income. Lending conditions are quite strict, but it will help those who have not been given a loan at Sberbank.
- What to do if there are doubts about the purity of a credit history? Send a request to the BKI and clarify the information. In the event that the financial reputation is not perfect, you can try to fix the credit history, good, this can be done in large banks in Russia.
- A large loan can be issued for any family member or close friend, if his income level meets the necessary parameters.
- What to do? They don’t give credit anywhere because of the insufficiently high level of income! In this case, you can provide the bank with collateral.
Many financial institutions soften their conditions if the client provides solvent guarantors. What to do if they do not give credit at banks? What to do in a difficult financial situation? You need to sit down and think it over carefully. It is possible that the potential borrower will be able to independently figure out and eliminate the cause of the failure.
Banks that give loans to everyone
This information will help if you do not give a consumer loan. What to do? Turn to more loyal lenders. However, it should be remembered that the fee for such an attitude is higher interest rates and tighter credit conditions. So where to turn for financial help?
- Microfinance organizations. There they issue small amounts (within 50 thousand rubles) for a short period of time (usually up to one month). The interest is slightly overstated, but the requirements are minimal.
- Credit card. Many banks, in order to attract more customers, practice issuing credit cards, with which you can improve your financial reputation.
- Correct credit history - this service is provided to customers in many Russian banks.
- Request a private person. It is important to pay attention to the terms of the contract.
Sometimes you can hear the phrase: "I want to take a loan! They do not give! What should I do?" The main thing is not to panic. Having decided on the required amount, you can submit applications to several banks at once, including those that have just started working in the banking sector. The fact is that young companies are very interested in finding new customers. It is possible that they will not pay attention to the spoiled financial reputation and lack of necessary documents.
How does a bank verify a potential borrower
The very first stage is the client’s compliance with the declared characteristics. After receiving the application, the loan officer begins to ring the applicant’s relatives and his colleagues. So he learns whether a potential bank customer is a responsible and solvent person.
Then, the loan application is sent directly to the bank, and the customer information is checked in more detail: requests are sent to the BKI and so-called databases with a “black list” of borrowers. Thus, the lender will find out if the applicant has large debts, outstanding loans and fraud. The presence of even one of the above items will cause a refusal.
Most banks in Russia use a specific system for evaluating the responses of a potential borrower. It is called scoring. During its application, each client’s response is assigned a certain number of points, the amount of which determines the reliability of the applicant. Suppose a bank has a minimum score of 100 for a positive decision. If a client scores 90, the loan will not be approved.
They may also refuse to issue a loan due to the disagreement of one of the co-borrowers. For example, when applying for a mortgage loan, the level of income and financial reputation of not only the applicant are taken into account. In this case, the characteristics of the spouse who act as co-borrowers are taken into account.
Goods on credit
Often, citizens of Russia prefer to take some goods on credit. Automobiles, household appliances, goods for the construction and repair of houses, telephones and tablets, as well as payment for medical or educational services, are the basic needs of Russians, which they are trying to satisfy with loans.
Many are eager to buy a trendy and very expensive phone. Modern manufacturers of gadgets offer their customers innovative models equipped with the most unimaginable functionality. Mobile devices have firmly entered the life of modern man. Now, using a smartphone, you can control household appliances in the house, monitor children, make payments and chat with friends. Such a mobile phone costs 2-3 salaries of the average Russian. A loan is often the only way to buy portable electronics. But even here unpleasant situations may arise. What to do if you do not give the phone on credit? What to do if the bank refused to buy a fashionable gadget? Let's pay attention to useful tips that will help prevent a negative decision of the bank.
Credit approved
Apply for a financial or commodity loan should be a person who does not have past due or outstanding loans. It is advisable that 1 month has passed since the last payment was made (there are situations when the BKI is late with updating information).
Contact a financial institution by collecting all the necessary documents (passport of a citizen of the Russian Federation, income certificate, copy of the work book).
You should contact the bank only when all loans have been repaid, the credit history is clear, and the client himself is confident in his impeccability and solvency. Then success will be guaranteed.
And the last advice for those who receive a salary or pension on a bank card. Applying for a loan is worth it to him. The bank has data on credits to the card, so getting a loan will be much easier than in another organization.