Consumer loans: types and features
Consumer lending at the momentis the most widespread program in the vast majority of banking organizations in the Russian Federation. It is represented by a variety of variations and can be realized under different conditions. For those who are going to issue a consumer loan, the types of this service are extremely important. After all, different interest rates are provided for different amounts and purposes. The terms of the loan also vary. Today, this type of program can be issued in a wide range of interest rates: from 12 to 70% per annum.
Consumer loans: types
In total, such programs can be divided into two broad categories:
- Target loans are loans that are issued by banks forthe client's achievement of a specific goal, stipulated and prescribed in the contract. This can be overhaul, education, planned rest and so on. At the same time, the financial organization gets the authority to control where the funds are going. In some cases, a person may not even see the cash, as the bank immediately sends it to the account of the service provider: clinic, college, hotel, etc. If it turned out to take a targeted consumer loan, the interest rate on it will be low, and the terms of payments are very soft.
- Non-earmarked loans are loans without a specificdestination. These include express loans, which can be obtained with only 2 documents. Interest on this type of loans is always high and can reach 70%. The maximum term for executing an express loan is usually 6 months, although by law it can be taken for a year and a half. In case of receiving a non-earmarked loan, the bank does not participate in the further life of the client, but requires timely payment of the content of the credit program.
A package of documents for obtaining
It is necessary to collect a certain set of officialpapers for registration of such service, as consumer credit. Types of these loans and their diversity allow you to choose a program that fully meets the borrower's opportunities and expectations. To conclude the contract, he will need to provide the following:
- passport of a citizen of the Russian Federation with a valid residence permit in the immediate vicinity of one of the bank's branches;
- a second document that can help identify the identity of the borrower;
- signature of the guarantor;
- collateral object.
You can get a loan with only the firsttwo points, however, the more documents and guarantees, the greater the amount of money, the longer the term and the softer the conditions. If a collateral object and a guarantee are provided, it is very easy to obtain a consumer loan. Interest in this case will be the lowest: from 12 to 15%. If the mortgage is a real estate object: a house, an apartment or a land plot, then the amount that can be borrowed is limited to 10 million rubles.
If for repair or purchase of a carit took a lot of money, then consumer credit can always help. The types of this service make it possible to use it to solve a wide range of different life situations: from buying a vending thing to resting abroad.