How to get a loan from a bank with a bad credit history and low interest rates

Sometimes the need for borrowed funds can be met only by a bank loan. There are a lot of offers on the market. How not to make a mistake with the choice?

How to get a loan?

On the territory of the Russian Federation there are many state and commercial organizations, each of which offers its own unique conditions. The scheme for obtaining a loan is the same in any credit institution. It is necessary to choose a service, provide a package of documents and wait for a solution.

The Bank may request:

- a passport that confirms Russian citizenship;

- a certificate from the place of work on the level of income for the last 6 months;

- a copy of the labor or contract, certified by the seal of the enterprise;

- the second document to choose from (driver's license, passport, military ticket, etc.).

If the loan amount is large, you may need:

- bail of third parties;

- pledge in the form of property.

Credits in the Russian Federation are issued to citizens aged 21 to 75 years. At the same time, the top bar should be reached at the time of the end of cooperation with the bank. Terms, terms and package of documents may differ depending on the chosen program.

How to get a consumer loan? Loan in cash can be issued in rubles, dollars or euros. Interest rates depend on the selected currency. The payment for the use of borrowed funds may be lower if additional guarantees are provided in the form of a pledge or surety.

Fast registration

If you urgently need cash, and there is no time to wait for a decision from the bank, you can turn to "Credit Cafe", "Mig Credit", etc. Such organizations offer their clients small loans for a few days at a reduced interest. How quickly to get a loan? It is enough to apply to "Quick Money" during business hours, provide a passport, information about the employer and after 20 minutes pick up cash. Advantages of such organizations are several: a minimum package of documents, high speed of decision-making. How quickly to get a loan to Russians? The second option is to apply to a bank in which you have already taken a loan. If the conditions for obtaining income have not changed, it is likely that the decision will not be delayed for a long time.

What do banks check?

During the consideration of the application, credit institutions first check the adequacy of the data in the questionnaire. Further information is analyzed for stop-factors: retirement age, registration of the borrower in an unstable region, etc. Each program receives a rating from each questionnaire. Based on their total number, the bank makes a decision.

What is worth paying attention to a potential borrower:

- total overpayment;

- Penalties for late payment of contributions, for early repayment of the loan;

- all footnotes in the contract, prescribed in small print.

How to get a loan from a bank without insurance?

It is easy if the loan amount is small. According to the Federal Law "On Protection of Consumer Rights", coercion to insurance is illegal. Such requirements are optional, but may increase the interest rate if the customer refuses the service. On the other hand, when an insured event occurs, the borrower will receive money and avoid problems with paying the loan.

Bad reputation

The economic crisis of 2009-2010 left many people without work. Having lost the source of income, they could not settle accounts with banks on their obligations. This affected the credit history. However, the need for money can arise at any time. Where and how are "bad" clients getting credit?

Problems can arise from a banal error. According to statistics, 30% of untimely paid loans are caused by forgetfulness of clients. Therefore, banks often offer SMS-informing services about the timing of making payments. Agree or not, the client decides. Another thing is if the bank denies the loan, referring to a bad credit history, which the borrower does not even suspect. Then there is the opportunity to verify the information by requesting all the customer data in the credit bureau. Incorrect data can be adjusted. Some banks issue loans even to "bad" borrowers, but at high interest rates. Having returned such a loan on time and in full, the client can improve his reputation.

Having spoiled relations with the bank once, people are afraid to apply to the institution again. And in vain. Moreover, banks are interested in working with old customers. How do they get credit in institutions with which relations in the past have been spoiled? As well as in other organizations. Clients who want to improve their reputation, turn to the credit department with a request to build a new payment schedule and agree on the amount of payment. Banks are interested in the return of loans, so they willingly go to meet.

How to be a pensioner

Getting a loan to a job seeker between the ages of 21 and 60, all other things being equal, is fairly easy. However, the need for money can arise in older people. How can a pensioner get a loan? For the most unprotected category of the population, banks develop programs with special conditions. For credit institutions, retirees are an attractive category of borrowers, since:

- they are law-abiding, respectable and obligatory;

- they have at least a small but stable source of income.

But the stumbling block for such borrowers can be:

1. The age. At the time of repayment of the loan, the payer must be under 75 years of age.

2. Income level. If the only source of cash is the borrower's pension, then you should not count on the large amount of the loan. If the potential client is still working or doing business, then he has much more chances. The terms of the loan will differ only in terms of time. Interest rates will remain at the same level.

Another feature in the service of pensioners is compulsory life insurance for the borrower. So, the financial organization removes from itself the risks connected with the possible death of the client, which will entail a non-return of the loan. But even in this case, the pensioner can expect a small loan amount for a period of several months. To increase it, it is necessary to attract a young guarantor with a high level of income. But here there is another problem. In the event of the borrower's death, his property and liabilities are transferred to the next of kin. Here's how you can get a pension for a large sum.

Interest-free loans

Today many banks offer their clients a loan on preferential terms. It is very important to understand what exactly is meant.

It's one thing if banks temporarily lower their rates on loans. Such actions are rare and are most often caused by the need to put in circulation funds received on deposits with small interest. Another thing is if the bank offers a loan for "0%". How to get a soft loan in this case? No way. The fact is that the Law "On Banks and Banking Activities" clearly states that it is not allowed to issue loans free of charge to a credit institution. The minimum interest rate should be 0.01% per annum. But in this case, banks can force the client to issue an additional package of paid services: starting with SMS-informing and ending with life insurance. Therefore, before thinking how to get "free" loans, read carefully the terms of service. Perhaps it is more profitable to take a loan for a larger percentage, but without additional commissions.

Money for business development

The need for borrowed funds can arise not only for individuals, but also for entrepreneurs. How to get a loan for a business? It is necessary to apply to the bank, leave an application, provide copies of the statutory documents, financial statements. Depending on the amount and purpose of the loan, the decision is made within 7-30 days. Most often, banks open credit lines to their customers. These funds can be used to meet current needs, such as payment for materials. At the same time, no additional guarantees are required. But there are practically no options how to get a loan without guarantors for financing a major investment project. The bank will not issue a large amount without a third party guarantee or collateral.

Problems

Most of the population is in credit bondage. The devaluation of the ruble, a decline in wages, a reduction in jobs - all these factors affect the solvency of the borrower. Responding to banks is getting harder. But there is a way out. There are several options for solving problems with debt on a loan. The bank may grant a deferral of payment for the repayment of the principal debt, allowing for a period of time only the interest, the prolongation of the contract or the provision of "credit holidays". The latter option is extremely rare.

Debt restructuring is as follows: the repayment period is extended, and the monthly installment is reduced. In this case, you will have to pay more money in the form of interest. But when the situation is right, it will be possible to repay the loan ahead of schedule.

You can change the loan repayment schedule. For example, some time to pay for a loan quarterly. Or for a short time the amount of payments decreases to the amount you need, and then increases proportionally.

If the borrower is experiencing financial difficulties, he can apply to the bank for help. But the credit institution will insist on frankness about the nature of the problems. They will help only if they consider the problem temporary and accidental. If the situation is critical, they will advise selling the pledge.

How to get a credit extension

The possibility of obtaining a "credit vacation" can be prescribed initially in the contract itself. But this measure is good only for the bank. The physical person gets the opportunity not to pay the debt within 1-36 months. After such a delay, the amount of payments increases and the fee is added in the form of interest. Therefore, such a vacation will bring additional costs to the payer.

If the borrower still decided to take a respite, then you first need to find out in the bank:

1) Is this permitted by the terms of the contract.

2) Will there be any payments during the delay (most often the bank allows you not to pay the principal debt, but requires timely repayment of interest).

The desire to take a postponement will need to be documented: a certificate from the place of work on the delay in obtaining a salary, a certificate of the birth of a child, a medical certificate with a diagnosis, etc.

Alternative output

Instead of thinking how to get a loan delay, it's better to try to agree on the prolongation of the contract. Mortgage can be extended for 5 years. The duration of consumer and auto loans will not increase. You can count on a positive decision only if before that moment the borrower made timely and full payments.

To begin the procedure for extending the loan, you need to write a letter to the bank explaining the reasons, provide all supporting documents. Such a procedure should be conducted daily for at least one week, as credit institutions tend to "not understand" what is at stake, the first time. The bank may refuse to roll over without explaining the reasons. In any case, the probability of extending the term of the contract is higher than that of a postponement.

Six rules of financial stability

Before taking borrowed capital, you need to carefully assess your solvency. The bank, analyzing the data of the client, cares only about the return. And the borrower should consider the balance of the budget and the standard of living for the period of the contract.

1. Calculate the optimal monthly payment. Experts argue that it should not exceed 40% of income. Banks lower this limit to 20-30%. In the calculations it is important to focus only on current income. That is, if in half a year for the implementation of the work plan you plan to get a bonus of 50% of salary, then it's better to postpone the purchase for 6 months. Or indicate in the application your real income level at the moment. By the way, in the UK after the crisis in 2010, banks were banned from issuing mortgages, which are three times the annual income of the borrower.

2. Determine the optimal term for the loan, based on the amount of the monthly payment.

The relationship between these indicators is inverse. The longer the loan term, the smaller the payout. But in this case, the bank will have to return more money, since the effective interest rate annually increases. In the long term, the probability of unforeseen expenses is very high.

3. Have a reserve fund.

Its size should be from three to six monthly payments. This amount can be stored in cash, placed on a deposit and used if for some reason you can not make a timely payment. In some cases, the reserve fund will avoid the loan itself.

4. Make a loan to buy really important things.

5. Remember about the little things.

During calculations do not round off the received sums in the smaller party. First of all it concerns monthly payment. If you do not return the bank even a penny in the current month, you will have to pay a fine, which is calculated as a percentage of the loan amount. In addition, such customers automatically fall into the category of malicious defaulters. Get a loan in the future they will be very difficult.

6. Early repayment and increase in monthly payments are not the same thing. In the first case, the loan balance, including interest, is returned to the bank immediately with one payment. But if the client just paid more than the amount fixed for several months in a row, this does not give him the right to independently arrange a "credit vacation".

Conclusion

In life there are different situations. The need for additional funds can arise suddenly. Well, if a person has savings for a "rainy day", then you do not have to get into debt. How to get a loan without references? It is easy, if there is a constant source of income. You just need to apply to the bank with a passport and leave a request. The need for a guarantor can arise when buying an apartment, a car, or if a loan is taken to develop a business. In other cases, banks require a minimum package of documents, quickly review applications and make a decision. Here's how to get a loan from the Russians.