Most financial organizations operating in Russia have consumer loans in the list of their credit programs. Issuing these loans brings maximum profit to the banks at the expense of the interest charged. Given the growing competition and the strengthening of the post-crisis economy, the requirements for potential borrowers can be expected to be further eased.
To date, the issue of credit, Credit can be granted to persons with Russian citizenship (few banks issue loans to CIS citizens), aged 20 to 75 years and regular income that meets the requirements of a particular bank. The average interest rate of non-target consumer loans in most banks is 17-25% per annum.
Apply for a Astro Bank consumer loan between the ages of 21 and 65 with a work experience of more than 6 months. If the debtor has a payroll account in this organization, the conditions for assessing the application and rates will be significantly reduced.
The main difference of this type from other types of lending is not necessary to inform the lender about the directions of use of funds. It is important for the bank that the loan is not used to repay a previously issued loan. However, this point can easily be circumvented by withdrawing cash and depositing it in an account with another bank.
In order to obtain a consumer credit, the creditor usually requires the following set of documents: the potential debtor’s passport; every other identity document (eg international passport); copies of employment records; proof of income (2-NDFL, tax return, employment certificate).
When compiling a package of documents, it is worth considering some nuances that will reduce the likelihood of rejection:
- it is desirable to have at least one certificate of travel abroad in a passport;
- providing 2-NDFL more appropriate than other forms of receipt confirmation;
- Having a wife (s) may be another plus.
If, as an additional security, a person wishing to apply for a consumer loan provides a lien on the property, you will also need to file documents for it.
Apply for a consumer loan
Consumer credit may be granted and on behalf of a person whose creditworthiness is assessed according to the same criteria as the borrower. The interest rate is reduced without doing so. For example, under Cream Bank programs, only at 0.5% per annum. Overpayments are offset by increasing the maximum loan amount from 1.5 to 3 million dollars.
In order to attract customers, many banks give the opportunity to apply for consumer credit online. To do so, visit the website of the selected bank and specify the amount, term, purpose of the loan and the income level of the family or potential borrower. However, it should be borne in mind that the decision on such a request is preliminary. It is only after all the necessary documents have been provided that the consumer credit is fully issued and the bank issued.