Credit: definition, classification, procedure for granting.

Now only the lazy do not know what a loan is. The definition of this term is not difficult to give. A loan is a certain amount of money that a borrower received from a lender for a certain period, and which must be returned with interest. Naturally, not everything is so simple, because there are commissions, fines and other pitfalls that accompany each loan. The definition, accordingly, can be chosen and more complex, but we will stop on a simple variant.

Classification of loans is also very diverse. Let us consider some of them, the most common ones. On the main subject of lending, loans are divided into consumer loans, car loans and housing loans. Consumers are divided, in turn, into pension, trust and urgent needs. Separately, there is an agricultural and educational loan. The definition of these types of credit products corresponds to their names: the first is issued for the development of rural and homestead economy, the second for the payment of tuition. At their registration there are certain nuances which do not allow to carry them to "urgent needs".

Car loans can be taken for the purchase of a new or used car, with or without down payment, under the state car loan program or under the program of related lending. In the housing group of loan products, a mortgage, a loan for construction, repair and reconstruction of housing are allocated.

Depending on the terms of repayment of the loan, they can be: short-term, medium-term and long-term. Depending on the subjects of lending, loans are provided to individuals, individual entrepreneurs, small and medium-sized businesses, large enterprises, other banks, working and non-working, pensioners, students, etc.

By types of monthly payments, loans can be with differentiated (decreasing) and annuity (equal) payments. The interest rate can be floating and fixed (most often used last). You can repay the loan monthly or quarterly.

Each bank has its own credit programs, with which one bank differs from the rest. Someone specializes in housing loans, someone on car loans, someone is in the lead in lending for the purchase of goods in stores.

Nevertheless, the procedure for granting credit to all banks is approximately the same.

1. Consultation. You can get all the necessary information on the Internet, but to come to the bank and consult the credit inspector is much better, because all doubtful issues will be resolved.

2. Filling out the loan application and delivery of documents. A loan application, it is a borrower's questionnaire, requires a thorough and detailed answer to the questions posed. The more complete the questionnaire, the better.

3. Verification of submitted documents and data. Credit inspectors necessarily review the submitted documents for compliance with all requirements of the bank's instructions. Legal documents are looking for legal documents on real estate transactions. Security conducts its verification, telephone numbers specified in the questionnaire may well be received by the clarifying calls from the bank.

4. Signing of credit documentation. If your loan application is approved, you will need to sign a loan agreement, sureties - a suretyship agreement, a pledge agreement (if necessary), an urgent obligation and other necessary documents.

5. Issue of a loan. You are most likely to receive money in your hands or enroll in a deposit. If this is a car loan, the money will be transferred to the account of the car dealership in a non-cash order.

With the maximum amount and all related payments you need to decide before you need to get a loan. Determination of your solvency and trustworthiness will be made at the consultation stage, so try to look at things soberly and not to ask for unreal sums. Not to mention the fact that the application form should reflect the actual state of affairs, and not be a school essay on a free subject.