How to get a loan in 2018
Each bank has its own provisions, where all credit conditions are written, as well as the necessary documents for this. Depending on the purpose for which the loan is taken, the terms of its issuance and repayment will be different. Each type of lending requires its own documents, and in each bank they differ to different degrees. A sample list of documents includes:
1. Application form of the borrower and guarantors (one or two).
2. The passport (residence permit) of the applicant and the passport of the guarantors.
3. Certificate of income of the applicant and his guarantors for the last 3 (three) months, as well as withholdings made from them.
The loan amount depends on the applicant's monthly income and, in various types of loans, has a fixed upper limit. The list of required documents is subject to change. So, for targeted loans, additional documents are needed, for example, to get a loan for education, you need an appropriate agreement with an educational institution, and for lending to retirees - a pension certificate.Pensioners who continue to work can simultaneously provide information on both salary and pension.
If you want to get a loan for business development, then you need to consider that the package of documents provided will be much more than for consumer needs. Moreover, the interest rate on it is also higher. This is due to the risk of banks due to a much larger amount of money, as well as the possibility of unforeseen situations that limit the ability of the borrower to repay it.
Some large stores and car dealerships also lend their goods on the basis of an agreement with a specific bank. So which bank to choose? To get a loan with optimally favorable conditions, you need to study the loan offers of banks and taking into account the amount of additional funds to pay the loan, make a choice. It is necessary to take into account that some banks, apart from interest rates, charge a fee for the procedure of registration of the contract, as well as a monthly fee for loan support. For some types of loans, (car loan, mortgage, for business development), banks require collateral, which can be a car, real estate or guarantors, and in some cases, insurance.
Lending terms for most banks are similar - these are 3-5 years for consumer needs, 5-7 years for car loans and 10-15 years for real estate.
In order to get a loan, you need to go to the consultant of the selected bank and get a list of documents. As a rule, each bank has its own sample forms. Having filled them, come back to the specialist, where they will calculate the loan amount and prescribe the conditions for its repayment.
Usually, banks review applications within one to two weeks. Recently, many commercial banks provide a service for issuing "fast loans", making the decision to issue them within an hour.
After the bank makes a positive decision, a loan agreement is made. There are several ways to get a loan ─ this is cash, opening a credit line with a credit card, as well as cashless payments.
Repayment of the loan is made every month in the time specified in the loan agreement with the attached schedule of payments. It is advisable to do this without waiting for the last day of payment.
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