Loan in "OTP Bank": feedback from customers and employees about work

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

"OTP Group" is one of the largest financial companies operating in Central and Eastern Europe. This is confirmed by data received from specialists from the Budapest Stock Exchange.

Employees of the OTP Group provide services to 13 million clients in the form of individuals and legal entities. About 1.4 thousand branches and 3.9 thousand ATMs have been opened in the Old World. The company has more than 41 thousand employees.

The representative office of OTP Bank in Russia is part of the Hungarian OTP Group. This financial institution operates in several areas at once:

1. Banking business.
2. Investment deposits.
3. Financial transactions.
4. Insurance.
5. Asset management.
6. Leasing.
7. Funding pensions.

The history of the development of a financial institution

The abbreviation OTP (Orszagos Takarekpenztar) is translated into Russian asThe State Bank of Hungary, which gave the name of the company under the name "OTP Group", was formed in early March 1949.

In 1990, the financial institution was reorganized into a public company.

In 1995 OTP Bank was privatized and became a private institution. After this event, the financial institution began to expand in the Central and Eastern markets, increasing its economic growth.

Bank executives

In the second half of the 90s of the last century, an organization called "OTP Bank" underwent a major transformation, turning into a retail bank. At the same time, about 9% of the company's shares are owned by MOL, and the rest is in free float. They can be purchased on the London Stock Exchange.

Since the beginning of 1990, the bank has been managed by the board of directors, its head is Sandor Chani.

Occupation of the financial institution

OTP Bank has subsidiary banks not only in our country, but also in the near abroad. This financial institution is the largest in the EU countries. It has successfully passed special tests for resistance to various fluctuations in the stock market.

In 2014, the board of directors of OTP Group invested about 10 million euros in Touch Bank. The total investment amounted to more than 40 million euros.

Achievements of the OTP Group

During its existence, the financial organization "OTP Group" has earned a number of awards and prizes, which are listed below:

1. Recognized as the National Winner of the Best Bank of Central and Eastern Europe (2015), which operates online.
2. Recognized as the best Hungarian bank for foreign exchange transactions in 2015.
3. Earned as the most reliable bank in Hungary in 2014.
4. Recognized as the best global bank in 2015 among emerging markets in Western Europe according to Global Finance.
5. Ranked 952nd in 2018 among the largest organizations included in the Forbes Global 2000 list.
6. Win 3rd place in the category "Best Management Company in Central and Eastern Europe" in the category of finance and banking.

In addition to the above merits, OTP Bank has received many prizes and awards, in addition, this financial institution represented Hungary in the ranking of the most valuable brands in the banking sector, which was prepared by Brand Finance (UK).

Consumer loans at OTP Bank

“OTP Bank” provides Russian citizens with loans for various purposes with very democratic conditions, compared to competitors in the financial market. Another advantage of this financial institution are the following factors:

1. Minimum requirements for individuals.
2. Quick response from a bank specialist after the submitted application.
3. In order to receive funds, it is not necessary (but desirable) for an individual to provide collateral that servesloan repayment guarantee.
4. To get a large amount of money from OTP Bank, it is not necessary to look for a guarantor. Most likely, loan officers will approve the issuance of finance without a guarantee.

Individuals offers cash loans "OTP Bank" under the conditions (reviews confirm this), which will appeal to many residents of Russia. Also, various bonuses have been introduced in the organization to attract new customers and maintain a stable interest among old ones who have already applied to this credit institution.

“OTP Bank” provides universal packages of financial services in almost all European countries, both to individuals and large organizations.

Why is OTP Bank trusted?

European organization called "OTP Bank" has an impressive capital of tens of billions of rubles. It is included in the list of the largest banks in Russia, and is also a leader in the financial market according to data received from Interfax.

The management policy of JSC "OTP Bank" is mutual trust between this organization and the client, regardless of what service is provided.

Requirements for borrowers

Those clients of OTP Bank who took a loan write in their reviews that if an individual needs to get a loan here, you should know that this credit institution trusts its regular and reliable partners. In order to receive a small amount of money, it is enough for a Russian citizen to collectminimum package of documents:

1. Passport of a citizen of our country.
2. TIN.
3. Certificate that confirms the financial solvency of the borrower.

Judging by the reviews, a person over 21 can take a loan from OTP Bank. In addition, he must not be older than 65 years, and must also have a permanent residence permit in our country.

All of the above requirements help the bank to make sure that its client is able to pay debts in the future. Thanks to this trust between the client and the financial institution, the interest rate is reduced to a minimum.

Each person who applied can count on an individual attractive offer, while the rate is calculated individually for each person who applied to the bank. The result will be known only after a thorough check of the solvency by the specialists of the financial institution. In the process of calculating the interest rate, the monthly income of the potential borrower, the term of the loan, the category of the client, the size, reliability, and the number of employees in the enterprise where the borrower works.

In the event that the future borrower receives a pension, whether it is a labor or military reserve, it must be reported to the bank. To do this, contact the FIU to order an extract there.

To receive a larger amount of funds exceeding 200 thousand rubles, but not more than 400 thousand rubles, in addition to the above documents, you must submit to the loan officer a certificate in the form 2-NDFL, which contains an extract on payments for the lastsix months. You must also make and bring to the bank a copy of your work book.

If an application is submitted to OTP Bank for a loan of more than 400 thousand rubles, it is necessary to issue a certificate confirming income in the form of a bank.

Lending rates

For trusted clients who have already cooperated with OTP Bank, the management provides credit funds under the Promo program. The interest rate in this case will be from 11.9 percent per year, which is confirmed in customer reviews of cash loans at OTP Bank. This is the lowest interest rate that this bank can issue to an individual in Russia. However, there is also a negative point in this action, namely, the borrower needs to find a guarantor who can repay the loan in case of insolvency of the person taking the loan.

Using another program from a European bank called "Online", the client can count on a loan for a period of six years. The base rate is 31.9 percent. The maximum annual percentage can reach 40 percent. The client can expect to reduce the cost of overpayment for a loan only if he submits to the bank all the documents that the loan officer will require.

Also, OTP Bank is ready to provide loan funds in 15 minutes. This program is called Express Loan. In such a short time, it is extremely difficult for bankers to verify all the information about their client, so the credit institution is forced to reduce its risks by making the interest rate high. Using the Express Loan program, a person can count on an interest rate of 38 to 67 percent per year. Approximately the same conditions exist in the OTP bank for cards and loans (client reviews on the Internet confirm this) in other, less popular products.

For people with an impeccable credit history who have already taken loans from this or other banks, as well as for depositors, the base rate will be 28 percent per annum. Clients with a slightly damaged credit history will have an interest rate higher than 35 percent. This is confirmed by reviews of loans in OTP Bank.

For entrepreneurs and notaries, the interest rate starts from 30 percent per annum. At the same time, you should be aware that the creditor may extend the period for consideration of the application without giving reasons.

Standard loans are approved 1-2 days after the application is submitted, according to reviews of cash loans from OTP Bank customers. The rates on them are much lower than on the “quick” loan.

Where can I get a loan?

The OTP bank (loan reviews confirm this) is ready to issue credit funds in several places at once:

• in the office of a credit institution;
• via the Internet;
• in stores that cooperate with this bank.

It is desirable for the bank that customers personally visit the bank's office to apply and receive cash. Obtaining borrowed funds by online transfer is also very convenient for both the lender and hiscustomer.

People turn to the store to get a loan in order to immediately buy goods, so the borrower does not deal with cash. After the loan is approved by the bank, the client immediately makes a purchase.

Customer reviews about OTP Bank

On the Internet, there are much more negative reviews about the European OTP bank than positive ones, so let's start with them. So many Russians who turned there for money tell stories about how they tried to pay off their debts ahead of schedule. It turned out that this is not so easy to do. Firstly, bank employees need to personally visit the office in order to carry out such an operation. They explain this by saying that false information about the debt can be conveyed to the client over the phone.

Another disadvantage of OTP Bank, which is discussed more than once in reviews, is the fact that it is very difficult to get through to the hotline of this financial institution. In the best case, customers are answered by an answering machine, which is not able to answer all customer questions or solve pressing problems. This situation does not suit people, especially residents of those cities where there is no representative office of OTP Bank yet.

According to reviews received on the Internet, quite often customers of a European bank are faced with a problem when early repayment is made, but interest is still charged on the loan. This is due to the fact that the loan is still not closed, the debt has remained with the individual, which is confirmed by the information received in the BKI database (credit history bureau). Sometimes it is only automatically debitedmonthly payment, although the amount on the account is sufficient to repay the loan in full. This problem can be solved by installing the OTP Mobile Bank application on your phone, or go to the official website of the bank and register in your personal account there.

Some people in their reviews scold the bank for frequent failures of the official website, which greatly hinders the conduct of important financial transactions.

The mobile application was also criticized in the reviews about the loan from OTP Bank. So he is criticized for outdated design and frequent failures in the process. Because of this, even the old clients of this financial institution are no longer willing to seek services from it.

There are many reviews on the Internet about a loan from OTP Bank from customers. According to them, this credit organization poses itself as a bank that issues loans without collateral and without guarantee. In fact, it turns out that the rejection of security entails too much increase in the interest rate. As a result, it is unprofitable to take a loan from OTP Bank, it is better to apply for this service to competitors.

Also, people in the reviews of loans in OTP Bank complain that the bank in the advertisement states the following: "new clients do not need to bring additional documents to the office, except for a passport and TIN." However, when a person visits the office, managers announce other conditions, without which there is no question of approving a loan.

Found in the reviews of the loan in the bank "OTP" criticism regarding the provision of services such as installments. So many customers said that during the purchase of a large and expensivetechnology, they often do not have enough money, which is why they decided to seek help from a financial institution. I liked the conditions in OTP Bank. The manager quickly prints the contract, but then problems arise. It turns out that the system is not working, and the credit funds have not been credited to the store's account. According to numerous buyers, two days later, the situation has not changed.

More negative feedback comes from dissatisfied customers who wanted to transfer money without commission in Euroset stores. When contacting an employee of a store selling phones and other electronics, it turns out that they cannot transfer cash through the cash desk, only through branded terminals. By the way, they are often faulty, so payments have to be transferred in advance, otherwise the client will face pen alties from the creditor bank.

In negative reviews, people write that despite the comments received from customers, bank managers are in no hurry to correct or admit their mistakes. On the contrary, they continue to do them, and even try to impose additional loans and services on disgruntled citizens.

Many residents of Russia are dissatisfied with annoying calls from this bank, which they certainly state in their reviews on various thematic forums. So many clients are called with questions by managers from this credit institution after a loan delay of several days. A lot of time is wasted during a meaningless conversation. After a promise to pay the resulting debt, the calls do not stop, in addition, the bank sends an SMS with a reminder ofoverdue.

After the full repayment of the monthly payment, SMS with a reminder of the need to pay the loan is still received on the phone of former debtors. When a client calls the OTP Bank hotline or visits the office in person, they are assured that the payment has not yet arrived, but they will do their best not to distract the person from business with their annoying informational messages.

People often ask the question: "What happens if I don't pay a loan at OTP Bank?" In the reviews, bank customers say that even with the slightest delay on a loan (from 100 rubles) for several weeks, bank managers persistently call the debtor and his relatives. Often collectors find the debtor's work phones and call them. They want to know about the reasons for the delay in consumer loans at OTP Bank (reviews on the Internet confirm this). Often, in order to knock out debts, employees communicate rudely and impolitely with their customers, are rude and threaten them. Bank managers can obsessively call those people who are not customers of the bank, but only know the debtor.

Many residents of our country, after the approval of a loan from OTP Bank (reviews confirm this information), are often dissatisfied with the incompetence of the employees of this institution. Visiting the office, they are forced to stand in line for quite a long time. Clients cannot get their issue resolved, especially for those who are interested in early repayment of a loan at OTP Bank (reviews on the Internet confirm this information). As a result, he has to visit this institution moreonce the next day or call the hotline to get advice from more competent workers.

It is worth noting that, judging by the reviews, the bank's management appreciates its old and proven responsible clients. The managers of the organization offer them very attractive conditions.

Most people quickly approve a cash loan at OTP Bank, reviews confirm this. If you believe the reviews, even those people who never took credit funds and did not use installment plans for goods applied to OTP Bank for the first time and were satisfied with its service. The staff was polite, the office was located in a convenient and accessible location, there were no problems with parking. While waiting in line, you can drink water from the cooler. In addition, the bank approves the issuance of finance even to those people who were denied by other institutions.

In Novosibirsk, OTP Bank (reviews of loans from this financial institution are proof of this) is most often chosen precisely because of colorful and promising advertising on the streets and in the media. Among other things, this European bank cooperates with many Russian stores that sell household appliances and furniture.

Some Russians liked the loan services at OTP Bank (Ufa). In the reviews, they state that they were provided more than once with a very profitable cash loan for a short period of time (3-4 days), while at the same time with a low interest rate and convenient repayment methods. They also noted thatbankers have opened a rather convenient personal account on the Internet, where you can quickly see the history of operations on cards and deposits. In addition, you can download a mobile version of the application on the Internet, in which you can manage your finances, get a cash loan, reviews of OTP Bank confirm this.

Employee reviews

Some employees in their reviews of "OTP Bank" say that they are completely satisfied with their employer. The salary is transferred to the plastic card monthly without delay. Working conditions in the office are decent. Before you get a job, you must provide the personnel service with documents confirming the presence of higher education, preferably economic.

Many employees of this financial institution say in their posts that the employer sometimes forces employees to work in excess of the norm. This fact negatively affects the quality of services provided to people, as well as the he alth of workers. The salaries of the staff are low, so there is always a turnover in the company. People come to work, and then, after working for several weeks, they leave, because it takes a lot to work at OTP Bank. In addition, visitors, having stood in line for a long time, can be rude to office staff, expressing their dissatisfaction.