Credit (from Lat. Creditum – loan), providing money and goods on credit. Cash loan, consumer loan, cash loan – for the moment these are different names for essentially the same banking product. Banks are vying with each other offer new loan products and offers credit crisis, but how to find a cash loan with favorable conditions, many do not know. We examine this question in detail. Before the analysis of credit rates need to pay attention to two important details: banks' claims on the borrower. Since the onset of the crisis have tightened requirements for borrowers in almost all banks with a few exceptions.
First, the increased age at which credit is extended in cash. In general, the average age at which you can draw cash loan is 23 years, but there are few cases of lending in 1921. Secondly, increased the necessary experience to last job: currently the most liberal requirements 3 months makes only a few banks, while most loans to individuals with experience of 6 months and above. Thirdly, many banks have introduced restriction on the receipt of cash loan for people with certain income. In such a situation a person is difficult to pick up the bank, where you can get a loan, given his income, seniority and age, as well as many other parameters, which are discussed below. Requirements for the documents for the loan in cash. As a rule, for credit in cash without sureties, in addition to the standard passport and the second document, the banks have require a certificate confirming the borrower's income, and a copy of the work book. If previously it was sufficient to provide a certificate in the form of the bank, now need to formally 2-PIT.
These stricter requirements to the documents made it opportunity to turn all sorts of fraudsters who specializes in the production of documents for the loan. However, despite the complexity of the situation with the necessary proof of income, there is still a possibility get cash loans without reference to income. What to look for when choosing a credit program to start to analyze the rates on the loan. The interest rate you should pay attention, but only part. Returns the time when banks are laying the bulk of the interest burden in the various monthly fees (commission for the csc, the Commission for maintaining accounts, etc.), so this point should be noted separately. By some banks monthly commission on the loan in cash of more than half of all paid by the customer interest on the loan. Also pay attention to the method of charging commission on the loan, ie determine how it is calculated. Second to that is worth paying attention to when choosing the loan in cash – a one-time fee for receiving it. Wide range of commissions – it varies from 2 to 10 percent. Penalties for early repay the loan in cash at the moment are rare, but it is worth to clarify how early redemption is carried out. Often when you make the sum greater than the monthly payment, the difference is simply hanging out on the bill and neither is a principal repayment of the loan and the interest continues to accrue on a large balance. Thus, to choose for themselves a cash loan you need to assess banks' claims on borrower, document requirements, fees for the loan. I wish you good luck with the credit.