Before you make a loan, most people think about which banks benefit from the loan. But in the pursuit of the dream for which they take this money, people sometimes forget to pay attention to their solvency and potential cases of force majeure.
How to calculate which loan is right for you?
Before staying on one credit offer, the best option would be:
- Calculate the possible creditworthiness and the amount of payment per month under the contract. This borrower is considered to be solvent payments for a loan in a month that does not exceed more than 50% of total income. The best option would be if this amount was 10 or 15% of your earnings. According to experts, this amount of payment practically does not affect the standard of living of the borrower.
- Have the possibility of additional income. A great alternative would be if you had the money in addition to the main income. Although your annuity payment is invisible to your budget, this money may be needed in case of unforeseen circumstances.
- Determine the approximate repayment term of the loan. Remember: the longer you borrow, the lower the interest rates on loans. No need to go from extreme to extreme, to find “middle ground”. The statistics show, the population prefers loans for a year or two, but when it comes to mortgages, then for 5-10 years.
Getting a loan: the necessary documents
Today almost every bank provides loans for any purpose. The most common type of loan is consumer credit. This
The loan is not targeted and the borrower decides where to spend money without knowing the bank. Almost all banks have one list of loan application documents:
- Passport of a citizen of the Russian Federation.
- 2-NDFL Revenue Confirmation.
- SNILS, passport or driving license.
- Additional documents at the bank’s request.
Properties of credit organizations
No expert can provide you with an accurate answer. On the question of which bank is profitable to take a loan. When applying for a loan, you should make sure that each bank has its own nuances. Before calculating the interest rate, consider the following factors: loan amount, loan period, insurance under contract, estimated rate, presence of pledge or guarantor, your BCI data and much more. It is only on the basis of these data that the creditor will be able to calculate the amount and interest rates on the loan, but only subject to a personal appeal to the bank.
Conditions for obtaining a loan
Almost all banks have the same requirements for the borrower:
1. Passport of a citizen of the Russian Federation. Some banks make concessions and allow people with temporary residence permits to get a loan, this is not prohibited by law, but in practice this is very rare.
2. Age from 21 to 65 years. An exception to this section is Lenders Bank, which provides loans to pensioners under 75 years of age, provided that at the end of the loan agreement there may be no more than a specified age. At the time of application, you should be a maximum of 70 if you plan a loan for 5 years, and 72 if you borrow for up to three years.
3. Official work. No bank will issue a loan to a non-working person. Your employment certificate may be a 2-NDFL certificate, a state registration certificate for you as an independent entrepreneur, or a repair of your company in the form of LLC, ZAO, OJSC.
4. Good credit history. The reason for refusing a loan will be repeated delays in repayment of loans in the past in 100% of cases. And the lack of your data in a credit bureau can also serve as a rejection of your application. Experts recommend taking a cheap thing on credit: a phone, home appliances or furniture and regularly repaying the loan, establishing themselves as a capable and responsible lender of the loan. If you were refused ten minutes after you applied, you can be sure: the reason is your bad credit history because banks first check the BKI data.
Customer reviews about banks
Answering the question “Which bank is more profitable to take credit” will be important to pay attention to credit management organizations, whose reviews will give an overall picture of the credit services on offer at this bank. Pay special attention to real negative reviews.
Always check your solvency before deciding which bank is convenient to take out a loan. It is undesirable to take out a loan if the monthly payment exceeds 40-50% of your income. One should not complain about the possibility of repayment under a loan agreement in advance without taking into account the circumstances of force majeure. Finally: do not blame the credit institution if you have difficulty paying the mandatory monthly payment, you should always turn to the credit with a cool head.