The most popular service that is providedcommercial banks, is a consumer credit to individuals. And no wonder, since this type of lending can bring a good income for financial institutions of our country. This is due to significant interest rates. Thus, for a year, taking into account commissions and percentages, the consumer overpays about 40% of the loan's body.
The sales market is individuals, hired workers.The loan is given only to hired workers. The loan amount depends on the size of the salary of the latter. Even if the advertisement of the bank says that theoretically you can get a significant amount of cash, almost the loan will be calculated only based on the level of your income. In general, the maximum loan amount is about three salaries. In the future, if the payer fulfills its obligations on time, the bank can increase the limit to six monthly average wages of the borrower.
Interest rate on consumer creditindividuals are significantly higher than other credit products. This is due to high credit risks: in fact, this type of loan is not secured with collateral. In addition, there is always the risk of dismissing a person from work, and subsequently the occurrence of delinquent payments. Such a concept as low consumer credit is the marketing process of financial companies. With low rates, he will be unprofitable for the bank.
Preferably before choosing a bank-creditor is goodto get acquainted with the conditions of crediting. There are cases, that in advertising you can hear only one interest rate, but in fact there are still monthly commissions, insurances and so on.
Each bank is reinsured and tries to reduce its risks. Therefore, when the borrowers apply for a consumer loan to individuals, the bank performs a comprehensive audit.
First of all, the borrower is checked through the bureaucredit histories (CRI). If you have already taken out a loan, the BKI will issue information on its repayment to the bank, as well as form your rating. From this information depends the further decision of the bank on lending to a potential borrower.
In each bank, the approach to credit history is different: some take information over the past two years, others take five years.
Separately, I would like to note the consumercredit without income statements. The amount in such loans is much lower than with the references, and the rates are much higher. Therefore, the use of such a loan is recommended only in extreme cases.
