Where to get a loan to repay other loans. Refinancing: a loan to repay another loan

Quite often, people who have issued a loan and can not pay it, or have noticed the emergence of new, more profitable programs, are interested in the question: where to get a loan to repay other loans? In the category of those who are interested in this, there are holders of several credit loans simultaneously issued at different times and for different needs. Optimization of the credit burden and budget unloading became possible due to a unique banking service known as refinancing loans. The proposal is based on the repayment of old debts by means of a new loan, which provides for more favorable terms of partnership.

What are the benefits of refinancing banks receive?

Due to the fact that the number of people interested in the issue of where to get a loan to repay other loans is growing, refinancing is becoming available in an increasing number of banks.

It is offered not only by financial sector giants, such as Sberbank, VTB 24 or Gazprombank, but also by their smaller counterparts. In the fight for customers, even microfinance organizations participate. The activity of financial institutions is connected with different factors. It:

• Slowing down the pace of lending in the retail market.
• Decrease in the creditworthiness of borrowers.
• Growth in the number of non-payments and late payments.

Attracting customers

On-lending allows attracting clients who are paying on time and on time, but have previously issued a low-yield loan. Refuse to be able to turn someone else's good client into their own does not want any financial institution. For borrowers, a positive factor can be considered that when a financial institution learns about the search for a way to refinance its own loan, it itself, trying to keep the client, proposes to restructure the debt. The client becomes available for a loan to repay debts within the same bank.

New perspectives

Bank refinancing, a loan for the repayment of another loan, became available to the bank's services in 2011, immediately after the amendments to the Civil Code were amended. The ability to refinance his debt was supplemented by the abolition of sanctions for his premature payment. It is enough to warn the financial institution in a few days. This time is necessary for debt recalculation in accordance with the law, in which the type of payments will be considered: annuities or differentiated ones.

What does refinance give?

By refinancing, the bank's client is able to solve several important problems simultaneously. If there is no possibility to reduce the interest rate, which would allow to reduce the total amount of debt, there is a chance to change the size of the monthly payment downward. As an option, instead of a few loans it is much more profitable to pay one. Getting a loan to pay off another is available with a parallel increase in the loan size. Additional funds are often very useful. Demand for the service is formed due to the volatility of currencies, when a change in the rate leads to the formation of overpayments. Replacement of one loan currency for another can be profitable.

Banks willingly go to a partnership, because they do not want to replenish their arsenal of irrecoverable debts. The urgency of the service and the issue of where to obtain a loan for the repayment of other loans are determined by a change in interest rates of the Central Bank. A few years ago, the credit rate exceeded the present by 5-7 points. If we talk about the mortgage, the overpayment after the loan agreement expires will be significant.

When should I apply for on-lending?

Refinancing provides certain advantages not always, but only in strictly defined situations. The use of the service will be relevant in the following conditions:

• If there is a long-term loan program (from 5 years).
• The difference between the primary and the new rate should be at least 2-3%. Without commissions, duties, insurance and other additional costs can not do.
• The amount of debt is at least 1 million rubles. As an option, the sum of arrears must be at least 30% of the total debt.
• If at least six months have elapsed since the conclusion of the primary contract.
• Before the end of the loan agreement there are more than 6 months left.

Before considering the question of where to take a loan to repay other loans, you need to remember the basic rule: the more time has elapsed since the signing of the primary loan agreement, the greater the difference between the rates.

Which banks offer the most favorable terms of refinancing, or Where to get a loan to repay other loans?

The loan refinancing service is very common in the banking sector. Among a huge number of proposals, it is worth paying attention to the programs of the following financial institutions:

• RosEvroBank. Carries out refinancing of loans, which expired after more than 3 months. The date of the loan must not be older than 9 months. For secured loans, the bank offers a rate of 17% for up to 5 years. The maximum allowable amount of the loan is one and a half million. The application is reviewed within two days. For customers who have a positive credit history of at least 2 years, the loan repayment rate for another loan will be less by one point, but subject to the provision of collateral.

• SibRegionCreate. It offers refinancing of loans issued at least 8 months ago at the time of application. The loan agreement must be completed no earlier than 90 days. The interest rate can vary from 16 to 18%, depending on the terms of the partnership. The volume of the loan can be from 90 thousand rubles to 1.5 million rubles. The duration of partnership can be from 1 year to 5. Documents confirming income are mandatory. Examination of the application is no longer than 5 days, and a positive decision is valid for 1 month.

A profitable offer from Sberbank

Studying the question of how and where to take a loan to pay off another loan, you need to carefully study the proposal of the largest financial institution - Sberbank. Within the framework of the bank, two partnership formats are proposed. This is the provision of funds for the repayment of a loan issued by another bank for the purchase or construction of housing on the territory of Russia. The loan period can be 30 years. The loan rate, depending on the terms of the partnership, is between 15.25% and higher. Sberbank offers separate programs to pay off not only mortgages, but also consumer loans from other banks. Refinancing can cover at least 5 other loans. The term for which funds can be provided is no more than 5 years. The rate is from 18.5% and above.

How to choose a bank for refinancing?

Studying the question of how to take out a loan to repay a loan in another bank, you need to pay attention to your own benefits. Before entering into a cooperation agreement, you need to check whether the financial institution can provide one or more conditions:

• Increase or decrease the period of credit.
• Decrease of monthly payment.
• Presence of the program according to which at first it is possible to pay only interest on the loan, and then already pass to the repayment of the principal amount of the debt.
• Substitution of one loan currency for another.
• The availability of the opportunity to provide collateral for the loan to obtain more favorable terms of the partnership or in such a way to increase the amount of the deposit.

What should I look for?

Having learned which bank gives a loan for the repayment of other loans, you need to soberly assess your solvency in order to find the most profitable loan scheme. An obligatory condition for partnership with the bank under this scheme is the availability of a permanent source of income, in particular, work in one place for at least 3-6 months. The term will depend on the amount of the loan. If the client of the bank has a low income, he must provide a surety with a good level of income, but not less than the client.

Having understood where it is possible to take out a loan for the repayment of other loans, it is necessary in advance to prepare a package of documentation that practically does not differ from the one that was necessary for processing the initial loan. The work of banks in this direction is also carried out with problematic clients, but already under more stringent conditions.