Credit: definition, classification, the order of.

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Now everyone is aware that such a loan.The definition of this term to snap.The loan - is a certain amount of money that the borrower received from the lender for a specified period, and you want to return with interest.Of course, not everything is so simple, because there are commissions, fines and other pitfalls that accompany each loan.Determination, respectively, you can pick up and more complicated, but will focus on a simple embodiment.

classification of loans is also quite diverse.Consider some of the most frequently encountered.As the main subject of lending, loans are divided into consumer, auto and housing.Consumer divided, in turn, pension, trust and urgent needs.Separately, there is a farm and an educational loan.The definition of these types of credit products corresponds to their names: the first is given to the development of agriculture and subsistence farming, the second tuition.With their design there are certain nuances that do not allow them to include the "urgent needs".

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

Depending on the terms of repayment of the loan, they are: short, medium and long term.Depending on the subjects of credit, loans are available to individuals, individual entrepreneurs, small and medium businesses, large enterprises, other banks, employed and unemployed, pensioners, students, etc.

By type of monthly payments, the loan can be differentiated from the (declining) and the annuity (equal) payments.The interest rate can be fixed and floating (often using the latest).Extinguish a loan can be monthly or quarterly.

Each bank their credit program, which one bank different from the rest.Someone specializing in housing loans, someone on car loans, some lead in lending for the purchase of goods in shops.

However, the procedure for granting credit at all banks about the same.

1. Consultation.You can get all the necessary information on the Internet, but to come to the bank and to consult a loan officer is much better, because all questionable issues are resolved.

2. Completing the loan application and submission of documents.Loan application, it is the borrower's profile, require careful and detailed response to the issues raised.The better the full profile, the better.

3. Verification of documents and data.Loan officer is required to look through the submitted documents for compliance with all the requirements of the instructions of the bank.Title documents for real estate transactions certainly looks Legal Service.Security carries out its checks on these numbers in the questionnaire may well act specifying calls from the bank.

4. The signing of loan documents.If your loan application is approved, you will need to sign a loan agreement, the Guarantor - the contract of guarantee, pledge agreement (if necessary), the urgent obligation and other necessary documents.

5. Issuance of loans.The money you are likely to get on your hands or enroll in the contribution.If it is a car loan, the money transferred to the account of the showroom in a cashless form.

with a maximum amount and all related payments need to decide before you will need to obtain credit.Defining your solvency and reliability will be made at the stage consultation, so try to take a sober look at things and ask for unrealistic amounts.Not to mention the fact that the Application Form must reflect the actual state of affairs, and not to be a school essay on the free theme.