Monetary credit: registration, documents, conditions

The need for cash can arise at the most inopportune moment. It is necessary to take the monetary credit as quickly as possible and on favorable terms. And then the question arises: "Where to turn?". Bank or microfinance organization (MFI)? In terms of benefits - the bank, and as quickly as possible - the MFI.

Bank

When applying for a loan to a bank, a future borrower must provide a package of documents. The more documents the borrower can provide to the bank to confirm its prosperous status, the lower will be the interest rate per annum, and the loan amount, on the contrary, will increase.

What do you need?

The package consists of:

- Document of identity.

- The policy of compulsory medical insurance.

- Rights or certificates of registration of the vehicle.

- An overseas passport, it is desirable that there are stamps of passport control, indicating a trip abroad for the last 6 months.

- Inquiries from a real job on income for the past 12 months, certified by the seal of the head of the organization and signature.

- Copies of all pages of the work record card or other documents that can confirm employment. This can be an extract from the workbook or a certificate signed by the head of the organization, which contains information about the employee: his position and work experience. Or a copy of the employment contract. All pages of documents must contain the seal and signature of the head. The experience from the current place of work must be 6 months, and the total length of service - at least 12 months.

- Certificate of registration with the tax authority (TIN).

To receive a cash loan in a bank, you may also need additional documents:

- a military ticket (for persons who did not pass the age limit of 27 years), and in his absence - documents that can confirm the existence of a deferment from military service;

- the original and a copy of the certificate of the conclusion or dissolution of the marriage;

- a copy of the certificate confirming the ownership of the immovable property.

In this year's 2016 to take a cash loan, a loan, the beneficiary will have to choose a bank with the most attractive interest. On consumer loans, the rate will be from 22-38%, the mortgage will come from 11.9-18.8%, and the car loan will cost from 18-24%.

The package of documents submitted by the borrower will be checked by the bank's security service within 2-12 business days. After that, the bank employee will inform the future beneficiary by phone. The borrower can pay monetary loans from 1 to 3 years, based on the amount of the loan and the interest that charges him.

Almost any borrower who has a credit history in full order can expect to receive the maximum possible loan. The amount of the receipt will depend on the monthly income and expenses of the borrower and the type of collateral that he can provide.

MFIs

If the bank requires a complex package of documents that forces the borrower to collect many inquiries and make voluminous photocopies of various documents, then to borrow money in the MFI, you do not need a bale of documents. And in time everything will be solved much faster. The only negative - even if the borrower will collect a large number of documents confirming its soundness, the interest rate will still be higher than in the bank. In addition, the loan amount will be limited, especially if the borrower addresses for the first time. And the loan amount will be given only in rubles.

The list of documents that will be needed to apply is very short and consists of only one item - an identity document.

It is possible that the borrower will be asked to provide a second document, but here he can choose himself from the list that the lender will offer.

For the given money loan, interest will be different, depending on which microfinance organization the borrower will cooperate with. The minimum interest rate for first-time applicants is from 0.8 to 2% per day. Accordingly, and the annual percentage will fluctuate: from 292 to 730%.

To return the received sum the borrower will be obliged for a fairly short period of time: from several weeks to six months.

If the borrower addresses the MFI not for the first time, he can expect to receive a loan on other, more favorable terms. The repeated loan is characterized by a lower rate, which is almost 2 times less. Also, the borrower can expect to increase the loan amount. Thus, the company tries not to lose a single client. Psychology works here - in this MFI it is considered a serious and positive client, when they give money on credit and provide bonuses, so why look for it better?

Credit card

Another way to get a loan is to issue a credit card. According to statistical data, more than one-third of the Russian population uses a credit card.

What will be required for its registration?

To issue a credit card, you will need to collect an identical package of documents, both for consumer credit. At initial registration of a credit card it is not necessary to count on the big credit limit. If the borrower will responsibly approach the monthly payment of the debt, and also actively use the card, then its credit threshold will increase. It is not necessary to withdraw cash from a credit card. Firstly, this is not welcomed by the banking system, and secondly, the commission for issuing cash from a credit card can reach a threshold of 5% of the issued amount. And sometimes the commission can exceed the amount of money given out.

Interest, maturity and other expenses

Making a credit card to get a cash loan will not take much time: 1 to 7 business days. Sometimes a borrower does not need to go to the bank to get it - the courier service will deliver the credit card to his home.

The average life of a credit card is 3 years. Each year it will be necessary to pay for the service. The amount will be calculated based on the type of card: Maestro or Visa, from the credit card limit, plus the costs incurred by the bank servicing the client in the bank branch. Monthly loan repayment will be 5% of the credit limit amount.

The choice of a suitable place for lending is the prerogative of every citizen. You should correctly assess your financial capabilities, plan your incomes and expenses, do not make rash expenses, to repay debts in a timely manner and not to worsen your credit history.