What information does the credit terms have for us?

What are the terms of the loan? This is a list of requirements of a financial institution, without which it is not necessary to expect a loan. Today in the arsenal of each Russian bank there are at least three groups of proposals, within which you can borrow money for the purchase of housing, a car or making a smaller purchase. Each of them, in turn, is divided into two subtypes: basic and special.

What loan conditions can be considered classical or basic? These include the loan currency, its minimum and maximum amount, interest rate, the period during which it is planned to use the bank's funds, the type of collateral and the commission for delivery.

It is worth noting that the terms of the loan in the bank (in any of the Russian) very clearly regulate who can get it. If we are talking about an individual, then the client's age, place of work and experience, the quality of the credit history, solvency and sometimes even education are of particular importance.

Let's consider in more detail the conditions of consumer credit. Why these? Because such a service enjoyed the majority of our compatriots. In addition, the mortgage or car lending is not available to everyone. It is due to banking requirements.

So, in order to get the loan, you need to confirm your financial condition and employment. In some cases, confirmation of something is possible. But most often the creditor requires verification of both. In principle, the borrower should be interested in this, too, because the more documents you submit, the higher the probability that you will get what you want. In a specific situation, loan conditions of the type in question imply the provision of a wider list of documents. For example, it may be necessary to verify the ownership of a customer for a vehicle or apartment.

Sometimes there are certain bonuses for the borrower. For example, issuing a credit card with a certain limit. However, you need to understand that just so nothing happens. It is clear that the use of the card will have to pay interest. Therefore, if you feel that you can not resist and spend a certain amount of money, then such a "gift" should be discarded. If, of course, the conditions of the program allow this.

A very important point is the way of obtaining and servicing the loan. For example, cash on hand may not be available. Instead, funds can be credited to a card (not a credit card) or directly to the seller's settlement account . It should also be borne in mind that repayment can be carried out on a differentiated or annuity scheme. The advantages and disadvantages of each of them can be said for a very long time. If in brief, then ask the bank manager to make a settlement of the repayment, both one by one and the other. Where overpayment will be less, that and choose.

Finally, we should make sure that the loan conditions provide for the possibility of early repayment of their obligations. This is a very subtle point. Some banks do not explicitly prohibit this. However, it is necessary to notify the creditor in advance, and even in writing, about his intentions to repay the loan ahead of schedule.

Thus, applying for a loan is not only an opportunity to get money to make a purchase, but also scrupulous work on studying all the nuances and subtleties that this opportunity is characterized.