Currently, banks offer a wide range of loan products depending on the purpose, to ensure the availability, time for consideration of the application, loan terms, etc.How to choose a product, and does not pay on interest rates?Consider a bank loan and its types.
main principle of lending: the higher the risk-downs of debt, the higher the percentage of the loan.Borrower risk is the loss of income, source of income, loss, theft, damage of the collateral, no guarantor, long-term lending, old or too young age of the borrower and so on.So before you give out a bank loan, the bank seeks to minimize their risks by requiring an income statement, a copy of the work book, registration of pledge, attracting one or more sureties, life insurance and health of the borrower (especially when granting long-term loans), insurance of the collateral.
most common bank loan - credit for consumer needs.Issued for the purchase of household appliances, building materials, electronics, cars and so on. It is subdivided into the target and non-target.Target consumer credit is made exclusively for the purchase of certain goods or property, such as a car, an apartment house, to repair housing, to education.On target loan interest rate is lower than in the non-target, because the bank's risk can be reduced by design of the purchased or repaired the property as collateral.
If you need money for training, pay attention to a direction of lending, as loans for education from state subsidies (overall rate - 11.25%, of which the borrower pays only 5.06% for the term of study up to 10 years) and without subsidies(12% per annum for up to 11 years).List of universities participating in the program of subsidizing loans for education, approved by the Ministry of Education.Interest rates on education is much lower than other consumer loans.In addition, there is a grace period of repayment of principal and interest.
bank loan to buy a car (car loan) differs from the target consumer for the purchase of a car that during his registration as a pledge of car is a must.To minimize the risks of loss of collateral, banks require to insure the car not only in insurance but also in Hull.PTSD and a copy of the certificate of registration of purchased car remains at the Bank until full repayment of the debt.Minimizing risk in this way allows the bank lower interest rates on car loans (from 14.5%).In my opinion, if a new car is purchased from an authorized dealer, you should choose a car loan, followed by the pledge.The main reasons: a lower interest rate and lower tariffs CASCO for new cars.In the first year of use of the machine hull need to buy not only due to the fact that it is a prerequisite of the bank, but also for the sake of peaceful sleep and drive.If the vehicle is acquired used, the seller is a neighbor or friend, you should arrange a consumer loan to buy a car without registration of collateral.The interest rate will be slightly higher than the car loan with collateral.Under the bank loan requirements are set for the year of manufacture of the car: it should be "no more than" 5-8 years (each bank their credit terms, I cite the most common).After buying the bank will need to prove that you have purchased a car, and do not spend money on something else.Bring to the bank TCP and the registration certificate of the vehicle, the bank's employees removed a copy of the documents, the originals will be returned.If you buy a car, not falling under the above requirements, there is nothing left except how to make out the usual consumer credit or a loan for urgent needs.The interest rate on this loan product starts from 17-18% per annum, subject to availability of the guarantor.
most popular and inaccessible for most people in Russia is a bank loan secured by real estate (mortgage).This is due to the fact that interest rates on them are not so different from the target of consumer loans (from 12%).Mortgages given for the long term, strict requirements to the solvency and the age of the borrower.According to the Agency for Mortgage Lending (AHML), average Russians make out a mortgage for 17 years, repayable in 10 years.But even with the early closure of the loan overpayment get astronomical.Prerequisites for the mortgage: the presence of a permanent job, a pledge of the acquired property, assess and property insurance, an initial payment of 10-15%.
If you want to save on bank interest, should take care of your credit history, paying your monthly payments in a timely manner, to try to apply for a loan in one or two of the bank, which will form your credit reputation.Permanent and reliable borrowers banks offer preferential loan rates and more lenient lending conditions.Post your credit history can open a credit card reliable bank open credit terms, with no hidden fees.On this map you can occasionally pay for current purchases and repay the debt within the grace preiod, without paying interest for up to 50 days.Many banks "give" the first year of free service cards.
Another tip for those who want to save on bank loans - try to take them to the bank, the card which you transferred the salary.Certificate of work record and salary bank you would not exactly require and also offer preferential interest rates on many loans.
