How to apply for a consumer loan

Most financial institutions operating in Russia have consumer loans in the list of their credit programs. The issuance of such loans brings maximum profit to banks at the expense of interest. Given the growing competition and economic consolidation in the post-crisis period, it can be assumed that the requirements for potential borrowers will be further mitigated.

To date, people who have Russian citizenship can apply for a consumer loan (few banks issue loans to CIS citizens), an age range from 20 to 75 years, and a constant income that meets the requirements of a specific bank. The average level of interest rates on consumer non-earmarked loans in most banks is at the level of 17-25% per annum.

To issue consumer credit in the Savings Bank can be persons from 21 to 65 years, the work experience of which is more than 6 months. If the borrower has a salary account in this organization, the time for consideration of the application and the rates is significantly reduced.

The main difference of this type from other types of lending is the lack of the need to report to the lender about the directions of using the funds. It is important for the bank that the loan is not used to repay the previously issued loan. However, this point can easily be avoided by withdrawing cash and depositing it into an account with another bank.

In order to issue a consumer loan, the creditor usually requires the following set of documents: the passport of the potential borrower; Any other document proving the identity (for example, a passport); A copy of the work record book; Document confirming the amount of income (2-NDFL, tax return, certificate from the place of work).

When forming a package of documents, it is worth considering some nuances that will reduce the likelihood of refusal to issue:

- In a foreign passport it is desirable to have at least one confirmation of traveling abroad;

- the provision of 2-NDFL is preferable to other forms of income confirmation;

- the presence of the spouse (s) can be an additional plus.

If, as an additional security, a person who wants to issue a consumer loan, provides a pledge of property, you will need to produce documents for him.

Consumer loans can be provided and under the guarantee of an individual whose creditworthiness is estimated by the same criteria as the borrower. The rate of interest decreases, but not so much. For example, under the programs of Sberbank, only 0.5% per annum. Compensated overpayment by increasing the maximum amount of lending from 1.5 to 3 million rubles.

In order to attract customers, many banks provide an opportunity to apply for a consumer loan online. To do this, you need to go to the site of the selected bank and specify the amount, term, purpose of the loan and the amount of income of the family or potential borrower. However, it must be taken into account that the decision on such an application is preliminary. Completely draw up a consumer loan and issue a bank is entitled only after the provision of all necessary documents.