2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
For many of us, a consumer loan is a real chance to quickly solve our problems or make our life more comfortable and comfortable. But the lack of the required amount is not a reason to take money at a high, and sometimes unaffordable percentage. Despite the variety of offers from various banks, finding one where you can get a consumer loan with a low interest rate is not always easy. There is an exit! More precisely, there are several secrets on how to choose the right bank and which one is the most reasonable to apply to.
What makes up the interest rate
When a client applies to a bank for a specific purpose - to get a consumer cash loan with a low interest rate, he compares his financial capabilities and considers offers. To some extent, the client himself, his reputation and much more can affect the percentage, but basically it consists of manyother factors:
- inflation growth;
- expenses for servicing deposits from the public;
- economic situation in the country;
- expenses for maintaining the bank's office and its employees.
All of the above factors are in no way connected with the borrower, so the client will not be able to influence them in any way. But there are a number of circumstances that will allow you to get a consumer loan on more favorable terms.
How to reduce the interest rate on a loan
A client with an ideal credit history can get consumer loans with a low interest rate from a bank. That is, at the time of issuing a cash loan, the client must have loans closed without delay. Lack of credit history cannot affect the rate cut.
One of the most effective ways to reduce the interest rate on a loan is to participate in a salary project. It does not require income statements and guarantors. That is, Sberbank consumer loans with a low interest rate are available to customers who receive their earnings on a plastic card of this organization and may not submit additional documents when applying for a loan.
The last option is to issue a loan with collateral, that is, leave a deposit or attract a guarantor. In this case, the bank reduces the risk of non-repayment of money to a minimum and reduces the loan rate. In case of insolvency of the client, he collects a debt from the guarantor or sells the property left inbail.
What to look out for
It is quite natural that today a client is looking for the lowest interest rates on a consumer loan in different banks via the Internet and compares offers. But, as a rule, banks only attract the attention of a potential client with advertisements, promising big money “almost for nothing.”
Under each announcement, in small print, it is described under what conditions and which group of people will be able to receive a soft loan. This suggests that not every client can receive a low interest rate on a loan, however, he can apply and it can be approved, but the amount of remuneration will differ significantly from that stated in the advertisement.
And the last trick of the banks is an online application without a visit to the office. That is, the client fills out a questionnaire on the website of the organization, and it is pre-approved for him. But after that, he definitely needs to go to the office with the documents, where the loan conditions may be somewhat different.
How to choose a bank
So now you need to determine how to choose a consumer loan with a low interest rate. In every city there are many branches of various banks, and bright and attractive advertising hangs on each of them. But you don’t need to take a passport and run to the first office that comes across. The smartest thing is to use the Internet and compare all offers online.
The search will take some time, because you will not only have to look through a lot of offers, but also read carefullyterms. In some banks, insurance is mandatory for the client, and this is at least one percent of the loan amount. In other banks, favorable conditions are only for borrowers who apply again.
In general, it is more expedient to deal with each bank separately, calculate your capabilities and use a loan calculator. It often happens that a loan with a higher interest rate is ultimately more beneficial for the borrower.
Now it's worth considering the rating of the most popular banks and lending conditions in them, compare the conditions and determine which one is the most profitable to cooperate with and why.
Sberbank of Russia
Undoubtedly, today it is the leader in the Russian market, among consumers it is positioned as a reliable and honest partner for the borrower. So, what low-interest consumer loans from Sberbank can you get today?
- Credit "Unsecured": the rate starts from 17.5% per year. The maximum loan amount is 1.5 million rubles for up to 5 years.
- "Loan with a guarantor" reduces the interest rate by one percent compared to the previous proposal and increases the loan amount to 3 million rubles.
- A loan secured by real estate owned gives the right to apply for a loan in an amount not exceeding 60% of the assessed value of the object with an interest rate of 15.5% for up to 20 years.
- Participants of the mortgage savings system can apply for a loan of up to 500,000 rubles withoutguarantors at 18.5% or 19.5% per year. With a guarantor, the amount will double.
In addition, Sberbank regularly holds promotions, develops new loan products, and lowers interest rates on loans for certain groups of people. Details of all offers can be found on the bank's website.
Gazprombank
This financial institution also provides favorable consumer credit for individuals. A low interest rate, which banks do not provide to every client, starts from 16.5% and ends at 21.79% per year. It is calculated individually, according to the requirements, the guarantee is not a prerequisite for the borrower.
Loan amount from 30,000 rubles. It is also possible to issue 2 million rubles, but only with collateral, that is, with a guarantor. The maximum loan repayment period will be 5 years. The term for consideration of the application is up to 5 days.
VTB 24
This bank offers a consumer loan with a low interest rate - from 20.5 to 23.5%. Loan amount up to 1 million rubles for a period of 5 years. The rate depends not only on the reputation of the client, but also on his desire to arrange two types of insurance. By the way, there are quite high requirements for potential borrowers here, and in order to get a loan, you need a certificate of salary with a high income level.
Bank of Moscow
It offers a consumer loan with a low interest rate - from 19.9%, the maximum amount - 299 thousand rubles. But such privileged conditionsavailable only to payroll customers, the rest of the rate rises to 26.5% per year. To apply for a loan, a certificate of income is required.
Conclusion
Hundreds of banks now offer consumer loans with low interest rates, and all of them have definitely favorable conditions. But one should not count on the fact that financial institutions will work at a loss. It is necessary to adequately assess the situation and, if possible, apply to those banks with which we have already had a successful experience of cooperation.
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