Among various banking services, lending remains in demand. Loans are issued at various banks. Only in each organization can these services be provided based on different requirements. The conditions for obtaining a loan differ depending on the type of loan. More on this will be discussed in the article.
Lending principles
The terms of the loan are based on the following principles:
- recoverability;
- urgency;
- payment.
Chargeback is the obligatory payment of debt to the creditor. Urgency is considered a natural form of collateral. This indicates that the money received must not only be returned, but also done on time. Interest is accrued for using the funds, which confirms the paid service.
Relations between the parties are fixed in the contract. There may be general and individual conditions. The former are approved by the lender independently on the basis of modern legislation. These include the rules of the contract of accession (Article 428 of the Civil Code of the Russian Federation). Consent of the client is confirmed by the conclusion of the contract. Individual conditions are provided to each borrower separately.
General terms
Each bank approves them, but at the same time they are not particularly different. They usually include the following sections:
- definition of concepts;
- terms of issue, return, use;
- a responsibility;
- dispute resolution.
The general parameters that establish the conditions for granting a loan include:
- product focus;
- requirements for borrowers;
- minimum and maximum in amount, currency;
- loan terms;
- form of payment of funds;
- interest for use;
- execution of obligations.
In general, there may be additional applications. They relate to a specific type of loan product. The lender can make the changes himself. Borrowers learn about them through a public offering. General conditions for granting a loan should be in the office of the institution. If the bank has a website, then this information is necessarily published there. They can be provided to customers in paper form.
Individual conditions
If the decision is positive, the lender offers the borrower to study the individual conditions for providing a consumer loan or other type of loan. Consent of the client is expressed by signing the contract. Then the document is concluded.
The individual conditions for the provision of bank loans are as follows:
- form and type of lending;
- amount, currency;
- duration of the agreement;
- interest;
- payment order;
- size of interest;
- paid services;
- ways to exchange information;
- other conditions.
Customer credit
Consumer loan involves receiving funds for various needs. The consumer may be an individual. The standards for the provision of such services are fixed in law. Implementation should be carried out by the fulfillment of the conditions of provision: general and individual. General conditions for granting a loan are created by the lender for repeated use. There are no differences in them in credit organizations.
Consumer loans are issued on the following conditions:
- age 21-70 years;
- work experience in last place - from 6 months;
- citizenship of the Russian Federation;
- positive credit history;
- form of provision of funds - one-time;
- collateral is not required;
- currency - rubles;
- usually issued up to 500 thousand rubles;
- term - up to 5 years;
- rate of 18-30%;
- repayment by annuity payments;
- early repayment option;
- the application is considered during the day.
Bank loan terms may vary. They must be in the contract.Additions may be made at the request of the parties.
Education loan
Education loans are issued. The main feature of the product is its focus: tuition. This sets the rules for its provision. The main requirements include:
- recipient age - over 14 years old, with citizenship and registration;
- submission of a contract of paid services;
- Submission of certificate of successful training.
Some organizations have additional requirements. For example, the Russian Agricultural Bank and Sberbank require collateral in the form of:
- sureties;
- pledge of property.
Sberbank requires collateral insurance. Financial organizations offer their products, which are divided into 2 types:
- educational loans in an institution with a license;
- loans for studying at a university, which is on a limited list.
Therefore, the procedure and terms of the loan may vary. For example, for an educational loan with state support, it is necessary to study at an institution that is a participant in the state program experiment. The list of establishments is established by the Ministry of Education and Science every year. The educational institution must conclude an agreement with the creditor.
The following programs are offered at Sberbank:
- "Educational". It is issued for the education of persons from the age of 14. You must have citizenship and registration. The maximum amount is determined by solvency. The deadline is 11 years. The rate is 12%. A loan is secured.
- "With state support." The maximum amount depends on the price of training. Funds are transferred to the account of the educational institution. The rate is 7.06%. No collateral required. Consumers under 18 years of age are issued with parental consent.
The terms of repayment and provision of a loan in each bank are set individually for each client, taking into account his needs and solvency.
Mortgage
A mortgage loan is secured by real estate. It is usually provided in large sizes and for a long period. This lending option is used by a financial institution to purchase property by the borrower, as well as other types of loan products. Currently, housing under construction and finished objects of the primary, secondary market are in demand.
The main nuances of the conditions for obtaining a mortgage:
- currency, amount, term;
- amount of the first payment;
- rate;
- extra charges;
- insurance;
- document requirements;
- payment type.
The terms of the loan at Sberbank are as follows:
- primary housing;
- citizenship;
- age - 21-75 years;
- experience - from 6 months;
- currency - rubles;
- rate - 15-15.5%;
- amount - 45 thousand - 15 million rubles;
- term - up to 30 years.
Funds for loans are paid at a time. The first payment is 20% of the price of housing. Loaned housing is provided as collateral. It is necessary to take out risk insurance for the entire period. You will need to pay the loan in monthly installments. The penalty is 20% per annum. The application is considered 2-5 days. Mortgages are issued at branches at the place of registration, pledge or consumer accreditation.
What is needed to get a loan?
Previously, to get a loan you had to visit a bank. Now you can apply online. To obtain a loan is usually required to submit the following documents:
- Passport.
- INN
- Income statement.
- Bail papers.
- A copy of the work book.
Depending on the type of loan, the list of documentation may change. Before applying, you should study the conditions for obtaining loans on the site, and then decide on the design of a specific program. To sign the contract you will have to visit the bank.
Delinquent fines
A condition of any agreement is the fulfillment of obligations to pay a debt. Borrowers must deposit funds within the prescribed period specified in the contract. If you do not make payments on time, you will have to pay forfeits, penalties and fines.
The amount of compensation may be in the range of 0.5-2% of the amount for each day of delay. This amount will be added to the main payment. And timely payment will allow you to create a positive credit history.
Bets
Interest rates in each bank are different. They also depend on the type of lending. For consumer loans, they are set within 15-30%, and for mortgages - 10-15%. Credit cards are subject to high interest rates.
For regular customers lower rates apply. This is due to the trust in the client due to the excellent credit history, which affects the approval of applications.
Commissions
Borrowers need to familiarize themselves with the terms of the loan before signing the contract. Some banks may charge fees for servicing a loan, its issuance. If it is, then its size must be indicated.
Insurance
In the credit sector insurance is in demand. This service allows you to protect yourself from various risks. There are many types of insurance, but they are needed to achieve a common goal. When making a service in case of default, the debt will be paid by the insurance company.
It turns out that insurance is needed to protect the interests of the bank? Not quite so, since the client is also interested in the refund. Insurance will allow you to pay arrears due to insurance payments.
It is customary to distinguish the following types of insurance:
- in case of death or disability;
- job loss.
Many borrowers do not want to draw up a contract. This increases the amount of debt and monthly payments. Insurance is compulsory and voluntary. The first type of service is approved at the federal level. A voluntary insurance can only be recommended, but cancellation of it can not entail adverse consequences. In case of cancellation of insurance, applications may not be approved. Or not very favorable conditions are offered. Be sure to take out insurance upon receipt of a mortgage and with a car loan.
Borrowers need to carefully choose a program, having studied the conditions. It should be borne in mind that the bank must consult on the conditions of the loan. If the consumer requires to submit documentation, then employees must do this. All incomprehensible details must be discussed immediately. The lender must submit a contract to the client for review, which is allocated at least 5 days. Only if the conditions are clear, should a contract be concluded.