The modern market of microfinance services is overcrowded, among organizations there are one-day companies that have a dubious reputation and do not obey the law. Such MFIs should be avoided, for this it is necessary to pay attention to client reviews. Instant Money has a proven reputation and offers not only short-term loans, but also long-term loans, which significantly differs from its competitors.
Money Instantly was founded in 2010. Its peculiarity is that the company does not attract foreign creditors and investors. A microfinance organization invests its own profits in development. Since March 2017, the company has acquired the status of an IFC, in accordance with the requirements of the legislation of the Russian Federation.
Over 8 years of work, the organization has managed to establish itself as a reliable institution operating within the framework of the law. An indicator of the level of trust are customer reviews about"Money in a moment" and the number of regular borrowers. There are almost 400 thousand of them.
Unlike most competitors, "Money Instantly", in addition to quick loans, also issues long-term loans.
The company has more than 200 offices throughout Russia, employing over 800 people.
The first office was opened in 2010 in the city of Naberezhnye Chelny. During the year, branches were opened in other cities of the Republic of Tatarstan, such as Yelabuga, Almetievsk and Nizhnekamsk. In 2011, the company mastered the microfinance market of the Sverdlovsk region, including Yekaterinburg. Reviews of "Money in a moment" of that period indicate that lending of a new type has gained popularity and its regular customers.
In 2012, a microfinance company opened a representative office in the republics: Bashkortostan, Chuvashia, Mari El.
Today IFC "Money in a moment" works in more than 100 settlements located also in the subjects of the Russian Federation: the Udmurt Republic, Samara, Chelyabinsk, Orenburg, Kirov regions, Perm Territory.
Microfinance Organization Fees
Money Instantly provides flexible conditions, it can offer borrowers different rates based on the desired amount.
- The basic tariff is intended for customers who apply for money for the first time. For this product, you can get from 1 to 10 thousand rubles. The loan term is from 1 to 16 days, on any day you can repay the loan prematurely, while the borrower pays interest only for the timeactual use of funds. The base rate is 2% per day, for pensioners the same rate is reduced by half.
- The "Reliable" tariff is available to customers who have closed at least 3 loans in this company for a total amount of at least 10 thousand rubles. The upper limit of this product is 15 thousand rubles, the percentage will be 1.5%, for pensioners - 1%.
- Reviews about "Money Instantly" indicate that after the total amount of loans exceeds 30 thousand rubles, the borrower will be able to move to a new level of interaction. The "Friendly" tariff assumes an amount of up to 20 thousand rubles at a time at a rate of 1.5% per day. The loan term is the same - up to 16 days.
- If a person needs a larger amount, in this organization he can get a long-term loan secured by a title, car or liquid real estate.
With this tariff, he can count on up to 1 million rubles for a period of 1 month to 1 year. The interest rate is set individually, most often it is 5-6% per month of the loan amount. Naturally, it is more profitable to borrow money for such large amounts in classical banks, but not all citizens can apply there because of a previously damaged credit history.
From time to time, a financial institution has a promotion "First loan without interest." Then the amount up to 10 thousand rubles can be taken for up to 7 days, while the client will not pay anything for using the money.
Requirements for borrowers
The company understandsthat people with an impeccable financial reputation apply for loans in classical banks, therefore they deliberately do not overestimate the requirements for their customers:
- The borrower must be a capable citizen of the Russian Federation.
- Permanent registration in the region where the microfinance company operates.
- Age over 18.
- The absence of the client's participation in court cases that he did not inform the creditor about and which pose a danger to the client's property.
- No open delinquencies in other financial institutions.
- The Borrower cannot have more than one valid contract with Money Instant.
- A citizen must have full ownership of the property, which indicates as collateral for the corresponding loan.
Applying for a loan
You can apply for a loan in two ways in the organization "Money Instantly". Customer reviews cite online application submission as more convenient.
To start the procedure, you should create a personal account on the site, where you will need to specify the following information:
- passport data;
- place of work;
- marital status;
- presence/absence of dependents;
- the presence of obligations to other credit institutions;
- card/account details if necessary.
After specifying all the information, the user selects the desired amount and period of use, sendsapplication using the Submit button. To confirm the identity, a code will be sent to the specified phone number in SMS, it must be entered in the designated window.
If a person is applying for money to this IFC for the first time, they will only be able to get pre-approval via the Internet. For the final verdict, he needs to pay a visit to the company's office, submit documents and sign an agreement. If the client wishes, he will receive money to a bank account or a plastic card.
For all subsequent loans, after the first paid, the borrower can apply online and receive money in the same way without leaving home.
If the application is submitted at a stationary office, the client will need to fill out the same form with a loan officer, presenting the requested package of documents.
Microcrediting is different in that the lender does not ask for many documents, including a certificate of income. But in most cases, getting it is a problem for many people who want to get a loan, but are not officially employed.
According to reviews of "Money Instantly" it is known that the company from the required documents asks for copies and originals of the passport, TIN, as well as a certificate with details from the bank where the client has an account or deposit.
The lender, at its discretion, may request additional documents:
- Certificate of retired status.
- Driver's license.
- SNILS pension certificate.
People who want to get a secured loan will also need documents forproperty.
Dealing with overdue debts
Citizens are afraid of microloans because of high interest rates, but this feature is a necessity for MFIs. Thus, the company balances its risks. By lending finance without a thorough bank check, the lender is often left with bad debts outstanding.
According to the reviews of debtors in "Money Instantly", many of them turned to the organization with the firm intention not to repay the borrowed funds. It turns out that conscientious borrowers are forced to pay for negligent customers.
Since January 2017, the Central Bank has ruled that interest on an unpaid loan cannot increase by more than 3 times. Thus, the maximum total amount of debt can consist of the loan body and interest in three times.
Usually, any lender tries to get their money back on a voluntary basis. Then the representatives of the lender get in touch with the debtor through telephone conversations, postal, text messages and personal meetings.
When this does not bring any results, the lender, considering the situation as a deterioration in the financial condition of the borrower, has the right to go to court or assign the right to claim to third parties.
If it is impossible to pay off the loan and extend it, it is not recommended to hide from the lender, it is in the interests of both parties to resolve this situation peacefully. Contact the company and explain the situation. If the reason is valid, "Money in a moment" will offer to issuerestructuring.
Reviews about working at Money Instantly
Among the features of work in microfinance organizations is the optional availability of economic education. And in most federal banks, this is a standard requirement for an applicant. The management is ready to conduct training for the employees of "Money in a moment" on its own. Staff feedback on ongoing corporate events and trainings is proof of this.
There are also such advantages of official work as timely wages, paid holidays and sick leave, comfortable jobs and career opportunities.
If we talk about the shortcomings of the work, then this is the implementation of the plan. When the department has not coped with it, the payment of the bonus is not made in full. Among the feedback from employees about Instant Money, you can also often hear about the system of fines, which was developed directly by the company.
At the beginning of 2018, there were 2,271 microfinance organizations in Russia. Despite the diversity, the company "Money in a moment" stands out from the competition. Regular customers note the transparent terms of contracts, as well as the absence of hidden fees and fines. The organization is always ready to offer a borrower who finds himself in a difficult situation a loan restructuring.
Among the advantages of a lender, clients also highlight the ability to get a large loan for a long time even with a bad credit history. After allmost MFIs are in the business of issuing small loans, and the bank will not give a loan to a person who has past due.