2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Before applying for a loan, most of the population thinks about which banks are profitable to take a loan. But in pursuit of the dream for which they take this money, people sometimes forget to pay attention to their ability to pay and possible force majeure.
How to calculate the right loan for you?
Before settling on any one loan offer, the best option would be:
Calculate the possible creditworthiness and the amount of payment per month under the contract. A borrower is considered solvent if the monthly loan payment does not exceed 50% of the total income. The best option would be if this amount is 10 or 15% of your earnings. According to experts, such a payment amount has practically no effect on the standard of living of the borrower
- Be able to earn extra money. A great alternative would be if you have extra money on top of your main income. Even if your annuity payment amountinvisible to your budget, this money may be needed in case of unforeseen circumstances.
- Determine the approximate maturity of the loan. Do not forget: the longer the period you take a loan, the lower the rate on loans. No need to go from one extreme to another, find the "golden mean". As statistics show, the population prefers to take out a loan for a year or two, and when it comes to mortgages, then for 5-10 years.
Getting a loan: required documents
Today, almost every bank provides loans for any purpose. The most common type of loan is consumer credit. Thisloan is not targeted, and the borrower decides where he can spend the money, without the knowledge of the bank. Almost all banks have one list of documents for applying for a loan:
- Passport of a citizen of the Russian Federation.
- Certificate of income in the form of 2-personal income tax.
- SNILS, passport or driver's license.
- Additional documents upon request of the bank.
Which banks are profitable to take a loan?
According to statistics, at the beginning of 2015, interest rates on loans increased significantly compared to the period of 2014. It would be correct to associate this with the unstable economic situation in the country and the depreciation of the ruble.
The first place is occupied by Sberbank. According to analytical data, this bank has the lowest interest rates. This organization has been holding its positions among the leaders in lending for a long time,using government support.
The average rate on a consumer loan in this bank is from 19% per annum.
"VTB 24" is in second place. One of the largest commercial credit organizations, which is present on a par with Sberbank in every city.
Getting a loan is possible with a rate of 21% per year.
The third most popular credit institution is the Bank of Moscow. It is also a non-state structure and closely cooperates with the population. Possible overpayment for the year from 23% per annum.
Sovcombank is the leader in issuing loans to the population of older and retirement age. But loan rates also leave much to be desired and can reach 30% per year of lending.
Features of credit institutions
No expert will be able to give you an exact answer to the question of which banks are profitable to take a loan. When applying for a loan, you should pay attention that each bank has its own nuances. Before calculating the interest rate, it is necessary to take into account such factors: the loan amount, the loan period, insurance under the contract, the estimated rate, the presence of a collateral or guarantor, your data from the BKI, and much more. Based only on these data, the lender will be able to calculate the amount and rates on the loan, but only on condition of a personal appeal to the bank.
Loan conditions
Almost all banks have the same requirements for the borrower:
1. Passport of a citizen of the Russian Federation. Somebanks make concessions and allow people with a temporary residence permit to take out a loan, the law does not prohibit this, but in practice this happens very rarely.
2. Age from 21 to 65 years. An exception in this section may be Sovcombank, which provides loans to pensioners under the age of 75, provided that at the end of the loan agreement you must be no more than the specified age. At the time of application, you must be at least 70 years old if you expect to take out a loan for 5 years, and 72 years old if you take out a loan for up to three years.
3. Official work. No bank will give a loan to a non-working person. Your employment can be confirmed by a 2-NDFL certificate, a certificate of state registration of you as an individual entrepreneur or fixing your company in the form of an LLC, CJSC, OJSC.
4. Good credit history. The presence of repeated delays in repaying loans in the past in 100% of cases will serve as a reason for refusing a loan. And the absence of your data in the credit bureaus can also serve as a rejection of your application. Experts advise borrowing an inexpensive thing: a telephone, household appliances or furniture, and repaying the loan regularly, thereby establishing yourself as a capable, responsible credit borrower. If you were refused immediately after ten minutes after the application, you can be sure that your bad credit history may be the reason for this, as banks check data from the CBI in the first place.
Customer reviews of banks
When answering the question "which bank is more profitable to take a loan", it will be important to pay attention to the organizations servicing the loan, whose reviews will allow you to present the whole picture of the offered lending services in this bank. Pay special attention to real negative reviews.
Before deciding which banks are profitable to take a loan, always check on your own the possibility of your solvency. It is undesirable to take a loan if the monthly payment exceeds 40-50% of your income. You should not complain about the possibility of paying out under a loan agreement ahead of time, without taking into account force majeure circumstances. And finally: do not shift the blame to the credit institution in case of your difficulties in paying the mandatory monthly payment, you must always approach the loan with a "cold head".
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