The interest rate on the loan can be reduced!

To date, the most popular lending programs are: auto loan, consumer, mortgage and non-purpose. A little less often people apply for a loan for the education of children, dental treatment, repairs, housing, for traveling abroad and other special purposes.

For each of these types of lending is set its own interest rate, the minimum and maximum value of which depends on the many nuances of the banking program. If for a while to forget about the types of lending, then we can say within what limits today the interest rate on the loan varies: from 7 to 40%.

Consumer credit

Provided for the purchase of furniture and equipment, as well as for payment of personal services. It can be issued both in the bank branch and in the furniture store or equipment, provided they have a trained specialist to register your application. Consumer loans are expensive if you take a large amount of money - a rate of up to 29%. Given that the loan period is also small (mainly up to 5 years), the payments will amount to 13 000 rubles, and overpayment - 280 000 rubles. Up to 500 000 rubles. You can take 15-18% (payment - 12 000 rubles, overpayment 220 000 rubles.). But at the same time, if you want to overpay less (the minimum interest rate on the loan is 14%), it is better to give the bank so-called collateral for the loan, which can be a pledge of property or guarantors.

Car Loans

10,5-24% - such are the extreme rates of the interest rate on a car loan. At the same time, in the programs for buying new foreign cars, the rate is lower (11-13.5%), for a new domestic car (12-15%). The high interest rate on the loan was established, of course, for used cars: foreign - on average 16.5%, domestic - up to 24%. The higher the contribution, the lower the rate. High rates are set in special programs: obtaining a loan on 2 documents, without references; Acquisition of cars for the enterprise.

Mortgage

This type of loan is provided for the purchase of housing: apartments, houses, cottages, possibly together with the land. There are also programs for purchasing a room and a share in an apartment.

The interest rate on the loan ranges from 9 to 21%. Such a high discrepancy is due to the technical characteristics of housing. The cheapest thing to buy an apartment in a new building, in a newly built house is 1-1.5% more expensive, even more expensive will be housing in the secondary market. The lowest interest will be charged if you contribute a large down payment for the apartment.

Under mortgage lending programs, the interest rate on a loan is not an indicator of a monthly payment. It also adds annual insurance (0.4-2% of the loan amount), various commissions that can be avoided, if you approach the search for a bank more responsibly - spend at least a month choosing the right program.

Non-purpose loan

Is issued for any needs. The plus of this program is that the client is relieved of the need to indicate the purpose for which he takes a loan from the bank. This service of the bank "unleashes" the majority of borrowers "hands" and allows spending money for any needs. But ... The program has its own minus - a high interest rate.

Similar programs are called in banks in different ways: cash loans, loans on trust. The minimum rate on it is 13%, on average 15%, but it can reach 40% (if you need money urgently, without sureties and references). This is the most expensive type of loan.

The interest rate on the loan determines how much you overpay the bank for the opportunity to take out a loan. The least expensive for today were mortgage and car loans, in second place - consumer credit, and the most expensive today is a loan in cash without certificates, guarantors and collateral. But in any of these programs, you can find a way out to reduce the rate: by providing all the documents to the bank, by finding co-borrowers (or guarantors), by providing a pledge or a large initial deposit (in the case of a mortgage and a car loan).