Credit to pensioners in "VTB 24": conditions, interest

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

Despite the fact that the elderly are extremely careful and accurate borrowers, banks are in no hurry to issue loans to pensioners. VTB 24, for example, does not have special programs for pensioners, but it is possible to take out a loan under one of the standard programs. A pensioner should not count on a large amount; the maximum loan amount is likely to be 100 thousand rubles. Such restrictions are associated primarily with low monthly income.

Loan conditions

A loan for pensioners at VTB 24 can only be obtained in the national currency, that is, Russian rubles. The maximum installment plan will be 5 years, and the annual interest rate will vary from 15 to 27%. If a future client receives a minimum pension, then this cannot be the reason for refusing to receive a loan from VTB 24. Installment terms, however, will differ depending on the citizen's income.

Requirements for the borrower

A loan to pensioners at VTB Bank is available with a proven monthly income of 20 thousand rubles, if it concerns a resident of a region of the Russian Federation. Citizensthose living in the Moscow region will need to show a monthly income of at least 30 thousand rubles.

A positive credit history is an essential requirement. By the way, the lack of credit history is not a negative factor for banks. This is rather neutral information about the creditworthiness of the client. Definitely, only a negative credit history significantly reduces the creditworthiness of the borrower.

To get a loan from VTB 24, under the terms of the contract, compulsory life and he alth insurance of the borrower is required.

How to lower your interest rate

Citizens who belong to the category of non-working pensioners can get a loan at a lower interest rate if they attract guarantors or make a security. Guarantors can be any individuals with a permanent place of registration who work and can prove their income level with a certificate in the form 2-personal income tax in the amount of at least 20 thousand rubles per month after tax.

Real estate, such as an apartment, owned by the borrower, can act as collateral. So, getting a loan for pensioners at VTB 24 will be much easier, the amount can be increased, and the interest rate reduced.

Package of documents for obtaining a loan

To apply for a loan, you will have to collect a minimum set of documents:

• loan application form;
• pension certificate;
• Russian passport with a permanentplace of registration.

For non-working pensioners who have additional income, you can submit a certificate in the form of 3-personal income tax, and for employees - 2-personal income tax or in the form of the employer. Pensioners who continue to work can also make a copy of the work book certified by the employer.

It would not hurt to take a certificate of the amount of the assigned pension or make a statement on the movement of funds on a bank card that is linked to a pension account. Typically, such a certificate is required if the amount of the desired loan is more than 500 thousand rubles. It is worth noting that the certificate must reflect the amount of income for the last six months.

Apply online

To apply for a loan for pensioners, VTB Bank offers to visit the nearest branch of the bank or fill out an application online. On the site, you can fill out a simple form that contains the following data:

• full full name;
• contact details;
• desired loan amount;
• loan term.

In addition, the future borrower will be asked to enter passport data, indicate the address of registration and, if available, information about the workplace. So, a working pensioner must indicate the form of employment: permanent work, fixed-term contract, private practice or individual entrepreneurship. It is advisable to indicate the name of the company, its TIN and the amount of the client's income, so the bank can quickly check the information from the questionnaire and make a decision. The specified data will be enough for the employee to checkcreditworthiness of the client and decided to pre-approve the application.

Usually, the bank decides on the approval of the application within a few business days. The client will be notified of the decision of the bank by SMS or a phone call with an invitation to visit a branch of a banking institution. During the visit, you will need to submit a full package of documents and sign a loan agreement.

Applying online is much more convenient, because you do not need to waste time on the queues that often form in banks. After submitting an online application, the client is assigned the exact time of the meeting with the bank employee.

Refinancing

If you have one or more loans, the bank may offer a refinancing service. With the help of such a program, you can pay off debts in other banks. In simple terms, if there is a loan in bank A, then you can draw up a refinancing program in bank B and fully repay the loan in the first bank. Each client has different reasons for refinancing. Some borrowers, for example, combine several loans from different banks into one.

By the way, re-issuing a loan under the refinancing program will help improve your credit history, since the client, in fact, fully repays the original loan. Also, for this purpose, you can take several small loans and, observing all the requirements, repay them on time.

In the bank "VTB 24" refinancing service can be issued at 13.5-17% per annum. The minimum interest rate is available upon execution of a refinancing agreement in the amount of 600 thousand rubles. The maximum repayment period is 5 years.

It doesn't matter what is issued: refinancing at VTB 24 or a loan - pensioners are provided with conditions equal to those of other borrowers.

Mortgage lending

There are many reasons why mortgage lending for pensioners in the Russian Federation is practically unavailable. The relatively low income of an older person cannot cover high mortgage payments, even if the pensioner has additional sources of income.

Obviously, the he alth of the elderly is not ideal and when issuing a long-term loan such as a mortgage loan, banks are not insured against illness or death of the borrower.

You should not consider an employed pensioner as a potential mortgage borrower, as the bank understands the high risk of job loss for such a client.

Lending programs

VTB Bank can issue a loan to pensioners under one of the programs: "Large" or "Convenient". The first program provides for installments for a period of 6-60 months, and the loan amount will vary from 400 thousand rubles to 5 million rubles. In this case, the interest on the loan will be 15-15.5%.

In VTB Bank, a cash loan for pensioners is also available under the "Convenient" program. You can get from 100 to 400 thousand rubles at an annual percentage of 16 to 22%. The minimum period for which you will need to repaysuch a loan is six months, and the maximum available installment plan is 5 years.

Let's calculate an approximate loan option with a minimum amount and the highest possible interest rate. If you take 100 thousand rubles in installments under the “Convenient” program for 5 years with an annual rate of 22%, then the monthly payment will be 2,786.3 rubles. At the same time, the overpayment amount will reach 67,156 rubles, which is equal to 67% of the loan amount.

If the client attracts guarantors, makes sufficient security, the interest rate may drop to 16%. Ceteris paribus, on such a loan, you will have to make a monthly payment in the amount of 2,448.11 rubles, and the amount of the overpayment will decrease to about 46 thousand rubles.

Such conditions are repulsive at first glance, however, in various life situations, money is required at a particular moment, so there is no other way out for pensioners to get a loan from a bank.

Conclusion

Age is not a reason for denial of credit. Banks very often issue loans to pensioners. A non-working pensioner can receive a loan in the same way as a person who continues to work. "VTB 24" offers several cash loans, while not separating customers by age. Although there are no preferential conditions for pensioners, the situation can be improved by attracting guarantors or making loan collateral. VTB issues a loan to pensioners for a period of six months to five years, and the amount varies from 50 thousand rubles to several million.