The purpose of obtaining a consumer loan must be indicated in the questionnaire of the potential debtor, which he fills out before receiving a response from the banking organization. Any goals can be specified, but they cannot be related to the implementation of entrepreneurial activities ().

A loan of this kind can be provided by both credit and non-credit organizations, if permitted.

classification

There are the following types of consumer provisions:

• loans for urgent needs of any nature;
• commodity loans;
• credit cards;
• express provision.

Loans for urgent needs are issued in cash or transferred to the recipient’s card through the bank’s cash desk.

Trade credit:

• issued at points of sale of household appliances or other goods;
• an application for receiving money is completed simultaneously with the contract;
• a loan is provided to obtain a specific product;
• the application is considered in a simplified mode (the duration of the process is about 30-60 minutes);
• this type of loan is more expensive for the consumer, since the agreement does not provide for collateral;
• the purchased goods cannot be regarded as collateral in case of violation of contractual obligations by the buyer.

Obtaining a loan using a special card is extremely simplified: all you need to do is order a special card from the bank, agree on the card limit and use the money.

But it is important not to forget that card loans are the most dangerous for the debtor, since a constantly updated balance is an incentive to delay repayment of the principal amount of the debt

Express collateral is the newest type of consumer loan. Now it is being emphasized by those banks and financial institutions that want to develop retail lending.

consumer credit law

The law regulating relations in the field of processing consumer loans was adopted by the State Duma on December 21, 2013. The latest changes were made in 2015.

This regulatory act establishes:

• the sphere of relations that is regulated by it;
• basic concepts that are associated with consumer provision;
• conditions that must be included in every loan agreement;
• what makes up the total cost of a consumer loan;
• procedure for concluding a loan agreement;
• procedure for calculating interest;
• rights and obligations of the parties under the contract;
• procedure for resolving disputes;
• features of actions taken in case of late payment by the debtor under the contract and related to the return of the principal amount.

Interest rates on consumer loans are always different, but they all depend on the policies pursued by the National Bank of the Russian Federation.

Regarding which bank had the lowest interest rate on consumer loans in 2015, here we can immediately identify the 3 best institutions:

• Sovcombank;
• Premier Credit Bank;
• Binbank.

Sovcombank offers the “Cash 12%” program, the very name of which speaks of interest for use. Today, 12% is the lowest figure of all existing ones.

For example, Premier Credit Bank sets the minimum rate at 14%, and B&N Bank at 18%.

circumstances of the issuance of funds by banks

Any cash loans are issued by banks on the basis of a special agreement. The agreement is drawn up and signed by its parties: the creditor and the debtor.

Agreements for the issuance of borrowed amounts must include the following mandatory conditions:

• names of the parties;
• requirements for the borrower;
• information about the timing of consideration of an application for receiving money;
• data on the type of consumer provision;
• information about the loan amount and repayment period;
• name of the currency in which the loan was provided;
• methods of transferring money;
• interest rates in per annum;
• types and amounts of other payments that the borrower will make additionally;
• information on the full cost of the security;
• frequency of loan repayment;
• loan repayment methods;
• deadlines set for the borrower to refuse to receive a loan;
• ways to ensure contractual obligations (if any);
• information about changes to the agreement;
• debtor's liability for improper fulfillment of obligations;
• information determining the foreign currency exchange rate for conversion;
• information about the possible prohibition of assignment of the creditor's rights to third parties;
• the procedure for providing information about the intended use of money;
• jurisdiction of disputes (Article 5, Federal Law No. 353 of December 21, 2013).

there are the following:

• amount of money to be issued and credit limit;
• the duration of the contract and the procedure for repayment of debt;
• loan currency;
• interest rate under the agreement;
• procedure for converting foreign currency;

• number, size and frequency of making agreed payments;
• procedure for changing the terms of loan coverage;
• methods of fulfilling obligations under the agreement;
• information about the need for loan collateral;
• purposes of use for money;
• liability of the parties;
• the possibility of a ban regarding the assignment of rights;
• the borrower's agreement with the general conditions;
• a method of exchanging information between the debtor and the creditor.

The individual terms of the loan agreement differ in all cases. Their list cannot be exhaustive.

deadlines

When receiving a loan for consumer needs, the borrower must pay attention to the following terms:

• term of the contract;
• loan payment deadline;
• deadline for consideration of the security application;
• the period allotted for refusal to receive a loan.

The first term is mandatory to be specified in the agreement. Without it, no lending agreement will have legal force. Typical terms for consumer loan agreements range from 6 months to 5 years.

After the expiration of the contract, two options are possible: either it terminates, or it is subject to extension at the initiative of the creditor or debtor.

In the event of termination of the agreement on the issuance of funds for consumer needs, all rights and obligations of the parties cease to exist. The date and frequency of making mandatory payments are the main deadlines that the borrower should know.

Delay even by one day may result in penalties. Therefore, the loan payment must be made exactly on the date specified in the agreement, or 1-2 days earlier.

The deadlines for processing applications are always different, but since we are talking about consumer loans, they are usually not long. When receiving a trade loan, the application is considered within 30-60 minutes, when applying for a credit card - from 1 to 7 days, when receiving a loan for urgent purposes - up to 1 day.

age

The subject of consumer lending can only be an adult and legally capable individual. Only it can fully understand the obligations assigned to it, the existence of specific rights and the responsibility that comes in the event of failure to fulfill agreements.

Often, just being an adult is not enough to get a loan.

The minimum borrower age in many banks is 21 years. The maximum age for issue is from 55 to 70 years.

Maximum age restrictions are established in order to protect the bank from the risk of loan non-repayment. Nowadays, many loans are subject to insurance, and in most cases a party to the insurance contract cannot be a person over 70 years of age.

registration

Registration can be permanent or temporary. In some cases, it is not there at all, but then it will be difficult to obtain a loan from a bank or other financial institution. Traditionally, Russian banks give preference to persons with permanent registration.

This is due to the fact that in case of failure to pay the established payments on time and in the agreed amount, bank employees will know where to look for the debtor.

income level

In the loan application, the potential debtor must indicate the amount of income so that bank employees can assess his solvency. It is important to write truthful information, otherwise in case of non-payment of the loan, the bank will have grounds to accuse the borrower of fraud.

If there are unofficial incomes, they can be displayed as an additional source of cash receipts.

some options for issuing loans to consumers

The fastest and easiest way to obtain loans for the purchase of goods. But they provide for a large overpayment, since the bank does not require collateral from the borrower.

When receiving a loan for urgent needs:

• money is issued at a bank branch;
• To receive it, you must fill out a form and provide the prescribed package of documents;
• in parallel, it is necessary to take out insurance in case of death or disability of the borrower;
• the interest rate will be lower than for other types of consumer security.

There are two types of “emergency” loans: secured and unsecured. In the first case, the borrower will be required to guarantee repayment; in the second, the bank is content with only high interest rates.

When receiving a credit card, the borrower has the opportunity to:

• update the limit of available funds;
• do not pay interest during the grace period;
• get a card at a stationary point of sale;
• apply for a loan in a short time without intended use.

The grace period is usually 50-55 days, in rare cases – 100 days.

Express loan provides:

• lending for small amounts ( up to 30,000 rubles);
• the highest possible interest rates (overpayment can range from 90 to 150% per annum!);
• Loan terms are 1-6 months.

Express loans are issued within a few hours if you have the appropriate package of documents. In addition to the listed options for issuing money for use, there is also an overdraft. This type of lending involves issuing money in cash to salary card holders.

non-target

A non-targeted loan is a loan of funds from a bank without notifying it of what they were subsequently spent on. Individuals receive non-targeted loans using special cards, as well as during the execution of express collateral.

young family

A young family can get a consumer loan. Banks often offer attractive loan programs with reduced interest rates for newlyweds. But such loyalty is not mandatory.

For example, rates on the riskiest loans (commodity, express and card) are rarely reduced, focusing on general social trends.

in the absence of a certificate 2 personal income tax

Nowadays, many people, even those far from lending, hear the phrase: “Loan without guarantors and income certificates.” Yes, today you can actually get a number of loans without reporting your financial situation.

Without a tax certificate, you can apply for a credit card and receive money via an express loan, but you need to be aware of the pitfalls of such a simplified procedure.

Applying for a loan without proof of income is always risky for the bank, so interest rates for using money in these cases are always extremely high.

loan with co-borrower

Two persons can receive consumer support at the same time. For example, a wife wants to take out a loan. Due to her low income, she is unable to obtain a loan. In this case, she can register it together with her husband. In case of delay under the contract or non-payment, the borrower and co-borrower will bear joint and several liability, that is, equally.

with a guarantor

It can be issued by a third party and then the interest rates will not be as high as in the case without collateral. The guarantee is issued on the basis of a separate agreement.

The guarantor is financially responsible for failure to fulfill or untimely fulfillment of obligations by the borrower. Therefore, a secured consumer loan is a loan that is secured by third party guarantees and the material assets of the debtor himself.

upon the death of the borrower

Consumer loans are rarely issued without an insurance contract. The life and health of the borrower are subject to insurance. Thus, if an insurance contract was in force on the day of the debtor’s death, then loan obligations are not transferred to his relatives by inheritance, and everything is covered by insurance.

How is consumer debt divided in a divorce?

Upon divorce, each spouse receives half of the property, unless otherwise provided in the marriage contract. But financial obligations to the bank remain with the one who issued the cash loan.

termination of the agreement with the bank

The loan agreement may be terminated:

• at the initiative of the bank;
• at the initiative of the borrower;
• in case of expiration of the agreement.

The borrower can initiate termination of the contract only if the full amount and interest are paid. This can be done ahead of schedule. The bank can also initiate termination of the contract in the event of the death of the debtor.

Obviously, applying for a consumer loan has its positive aspects, such as speed, modesty of the documents provided and the absence of guarantors. But there are also significant disadvantages: prohibitively high usage rates, impressive fines in case of late payments and a change of creditors.

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Each of us has, in one way or another, encountered bank lending. After all, today it is much easier to solve all your financial problems and satisfy consumer needs with the help of borrowed funds from financial institutions. But, in fact, the procedure for obtaining such a loan is not as simple as it seems at first glance, and the cooperation itself has many features and nuances. Although probably not all of us know for sure what a consumer loan is. What it is? Let us define this concept.

Definition

Credit is one of the forms of relations between two subjects of economic relations, associated with the movement of value. In our usual understanding, a loan is a loan of money based on a bilateral agreement, according to which one party, that is, a bank or other financial institution, issues funds to the borrower, which can be both legal entities and individuals, on an urgent basis and repayment.

A consumer loan is a loan that does not have a specific purpose, that is, funds are allocated to the borrower without conditions for their use, or for consumer needs; this type of lending is applicable only exclusively to individuals.

If we speak in simple words what consumer credit means, then this concept can be characterized quite simply. These are borrowed funds from the bank that every able-bodied citizen can receive for everyday purchases. For example, using this type of lending you can purchase furniture, household appliances, household goods, cars and other goods. By the way, a credit card, one way or another, refers to a consumer type of lending because these cash loans do not have a target orientation, and the borrower can dispose of it at his own discretion. The only caveat is that this is a revolving line of credit. That is, as the borrowed funds are repaid, the borrower can use the loan again.

Definition of consumer credit

Types of consumer loans

Let's look at several types of consumer lending. First of all, consumer loans can be divided into two types: targeted or non-targeted. A non-targeted loan is issued by the borrower without providing the lender with any evidence of the use of borrowed funds, and he can dispose of them solely at his own discretion. A targeted consumer loan is a cash loan allocated for a specific purchase. Let's give a simple example: in many stores, for example, household appliances or furniture, as well as other goods, are provided in installments, but this is provided only through a bank. This means that the client submits an application to the bank and, if the decision is positive, can purchase the goods, the lender pays the seller, and then the borrower pays the lender. This type of economic relationship can be classified as a targeted consumer loan.

Also, consumer lending can be secured or unsecured. A secured loan is an additional guarantee for the lender, especially often used for large consumer loans. The collateral can be any liquid property of the borrower, including vehicles, real estate, securities, etc. The second type of security is guarantors who do not have the right to use borrowed funds and are not obliged to answer under the loan agreement as long as the borrower fulfills its obligations in good faith. But the nuance is that if the borrower violates the terms of the agreement, then the lender has every right to demand the return of the borrowed funds from the guarantor.

Please note that if we are talking about security as collateral, then the borrower’s property does not become the property of the lender, but an encumbrance is placed on it, or more precisely, on transactions with it. In simple words, if property is pledged to the bank, then its actual owner does not have the right to destroy, sell or give it away.

In addition, consumer loans can be divided into several more types, for example, according to maturity they can be short-term up to 1 year, medium-term up to 5 years, and long-term from 5 years or more. Or renewable and non-renewable, here we are talking about a credit card with which you can renew a loan. In addition, all loans are classified by cost, namely inexpensive, where the rate ranges from 10 to 15%, average cost from 15 to 30% and expensive from 30% and above.

By the way, microcredits or microloans also belong to the type of consumer lending, because they have all their features and features; the organizations that issue them belong to financial activities.
It is worth noting that all consumer loans differ in the way they repay borrowed funds. That is, the bank calculates debt repayment using a differentiated or annuity system. In the second option, payment is made monthly in equal installments; in the first half of the loan repayment period, mainly interest is repaid, and in the second, the principal debt, with a differentiated system, the payment is reduced monthly.

Applying for a consumer loan using the example of Sberbank

It is Sberbank in our country that is the leader among other financial institutions. If you pay attention to the rating, then this bank owns 1/3 of the country’s total loan portfolio, which already indicates that it is undoubtedly a leader in the credit market. Accordingly, there are several offers for consumer lending.

Let's look at all the current offers:

• unsecured loan: rate - from 12.9%, term - up to five years, amount - up to 3 million rubles;
• loan guaranteed by individuals: rate - from 12.9%, term - up to five years, amount - up to 5 million rubles;
• for owners of private household plots: rate - 17%, term - up to five years;
• loan for NIS participants: rate - 1.5%, term - up to 5 years;
• loan secured by real estate: rate - 14%, term - up to 20 years;
• refinancing loans from other banks: rate - from 13.9%, amount - up to 3 million rubles, term - 5 years.

Let's return to the question, what is a consumer loan at Sberbank? As you can see, there are several loan offers that fully meet the needs of each client, that is, here you can get a cash loan on various conditions. When you look at the interest rates, they are quite competitive and can be considered low cost. But the nuance is that this is the base rate, but for each client it will be calculated separately depending on several circumstances, primarily on financial well-being and the required loan amount.

Please note that in each bank the lender independently determines the maximum loan amount, because sometimes the real solvency of the borrower does not allow him to obtain the amount he requires to satisfy consumer needs.

List of documents for obtaining a consumer loan secured by real estate

If you want to take out a personal loan, what you need to know. First of all, you should think carefully about whether you really need to attract borrowed funds from the bank. The fact is that since taking out a loan today has ceased to be a problem, many literally abuse credits and loans, which ultimately leads to a debt hole. Despite the fact that applications are considered according to a certain system, the risks and solvency of their clients are assessed, sooner or later each of them may either decide to have a stable income or find themselves in a different life situation, and therefore payment on debt obligations becomes impossible. If you really need money, then determine the exact loan amount for yourself. It is advisable that the amount of the consumer loan does not exceed consumer needs.

Next, you should take care to get the most favorable offer from the bank; for this you need to prepare the maximum package of documents. Among them, a salary certificate in form 2-NDFL is required, as well as in the bank form, if the terms of the loan agreement do not prohibit this and you receive part of the income “in an envelope”. Most banks provide the opportunity to confirm your financial solvency with other documents, for example, a vehicle passport, international passport, certificate of ownership and others.

Consumer loans at Sberbank

First of all, pay attention to offers with collateral. For them, the interest rate, which in most cases determines the cost of the loan, is several points lower. Another way to lower your interest rate: Don't cancel your personal insurance. The fact is that if you lose your ability to work or lose your health, the insurance company will cover your debt to the bank, and you will be able to avoid problems with debt collectors.

The last piece of advice for the borrower is to choose a bank; carefully study the market for financial offers. You should not apply for express loans, where money can be received on the day of application without certificates or guarantors; the cost of this loan will cost you more than 30%. And the last thing to consider is that the longer the loan term, the greater the overpayment. Therefore, you should choose the term depending on your solvency. Determine the maximum amount you can pay per month as a loan payment, and based on this, determine the optimal term for yourself.

Let’s summarize what a consumer loan is taken out for. In fact, there is no definite answer here, because the lender does not limit the use of borrowed funds and does not control their further use. That is why a consumer loan is the most common type of lending due to the fact that its registration does not require the collection of additional documents that would confirm the intended use.

Of the existing types of credit, which are widely heard today thanks to television, radio and various print media (commercial, international, banking, government, pawnshop, etc.), perhaps the most famous is a consumer loan.

It is with its help that we satisfy our current needs. Everything that we, for one reason or another, cannot afford to buy with our personal funds becomes available to us with the help of consumer lending: from a microloan for urgent needs, borrowing money for repairs or a trip to the sea, to buying a smartphone, furniture, or a car. , apartments, etc.

Does the applicant (or an existing borrower) have sufficient knowledge about the service he is receiving? Refresh your memory about the last time you received a consumer loan, and whether you read the agreement (from cover to cover). Maybe some conditions seemed unacceptable to you, or you were so happy about the bank’s positive decision that you were ready to sign any papers, including insurance, if only they would give you the coveted loan.

Or maybe it’s time to slow down a little and finally figure out what you’re dealing with. Understand that consumer lending is fully regulated by law, according to which not only the lender, but also the borrower has rights. And knowing your rights, you can feel much more confident and not succumb to the desire (albeit veiled) of the creditor to deceive his client-applicant. That's what we'll talk about in this article.

Consumer credit (loan). What it is?

A consumer loan (loan) is a loan issued to the population and intended to satisfy their consumer needs (payment of any personal expenses). To be more precise, this is one of the loan options in which a thing (in our case, money) is issued for temporary use on the basis of an agreement, and with the condition of paying interest and repayment. A loan, unlike a loan, cannot be interest-free (more about).

An item or service that is purchased with borrowed money is called an object of consumer lending.

Well, probably, the truth is somewhere in the middle, and we will not go to extremes, but will simply study the topic more carefully, because consumer lending is really very convenient, and it is unlikely that we will be able to abandon it in the near and distant future.

We will talk about the pros and cons of consumer lending later, but for now, a very important remark.

The most important law that we will constantly refer to in the article is Federal Law No. 353-FZ “On Consumer Credit (Loan),” which fully regulates the relationship between the lender and the borrower, and it would not hurt to have at least a superficial understanding of it every borrower.

Principles of consumer lending

Any loans, including consumer loans, are issued subject to mandatory compliance with a number of principles:

1. Urgency. Means that the loan is issued for a certain period established by the loan agreement.

2. Payment. Loans are issued for a reason, but for a fee (reimbursable). This is the same interest (bank fee) that is charged to the borrower for the entire term of the loan agreement. This also includes all kinds of commissions and fees that the borrower pays in the course of fulfilling loan obligations to the lender. Money is the same commodity for the use of which the borrower pays the bank.

3. Returnability. The loan must be repaid on the terms stipulated in the loan agreement, even if the deadline established by the agreement is violated.

4. Purpose. The client is given a loan for certain purposes, some of which are combined with the phrase “urgent needs.” But even if the purpose for which the funds were requested is not specified in the loan agreement (non-targeted nature of lending), it still exists. Let it be a well-deserved vacation or new boots - in any case, this is the goal.

5. Security. The essence of the principle is that when receiving a loan, the client provides the bank with a guarantee of its repayment on time. The collateral can be collateral, third party guarantees or risk insurance. Even if collateral is not provided for in the contract, the financial institution is insured by checking the applicant’s solvency (requesting a credit history, scoring, etc.)

6. Differentiation. The essence of the principle is an individual approach to each client. The main terms of the transaction will depend on the identity of the borrower, his earnings, credit history, loan term and membership in one of the preferential categories (salary client, pensioner, etc.)

If these principles are ignored, the relationship between the parties can no longer be called credit. The pillars on which consumer lending rests are the first three principles.

Types of consumer loans

There are many criteria for classifying consumer loans:

1. Differences in loans by subject of the credit transaction:

By type of creditor. They are divided into bank loans, provided exclusively by banks, and non-bank loans, which are issued by other financial organizations: credit cooperatives, microfinance organizations, pawnshops, financial groups, trade organizations, rental points, etc.

By type of borrower. Such loans are issued to the following population groups:

• to all segments of the population without division into separate categories;
• various social (for example, military);
• certain age groups (for example, pensioners);
• groups of borrowers differing in creditworthiness (income level, credit load, and other solvency factors);
• VIP clients (with high income and social status);
• young families;
• students.

2. According to the terms of provision:

One-time. It is assumed that the entire loan amount will be issued at once, without breaking it into parts and without the possibility of additional borrowing within the framework of the concluded agreement.

Renewable. What we mean here is renewable. Such a loan is also called a revolving loan, which is provided to the borrower within the limits of the repayment period established by the agreement at any time, automatically, without additional negotiations between the lender and the borrower. This is how credit cards work. That is, as soon as part of the loan taken is repaid, the available credit limit immediately increases by the same amount.

3. By loan terms:

• Short-term (loans up to 1 year - for urgent needs);
• Medium-term (up to 5 years, for example, car loans);
• Long-term (over 5 years, for example, mortgage).

4. According to the form of issue:

Commodity. It is used in relation to targeted loans, most often when selling goods on credit. A striking example of this is in chain stores selling household appliances, when the entire loan amount is transferred to the seller by a partner bank non-cash, so that the client does not even hold the money in his hands, and the buyer’s obligations arise before the bank.

Cash loan. The borrower receives money at the bank’s cash desk or by bank transfer to his bank card (example –)

7. By method of repayment:

Differentiated repayment scheme. It is also called classic. Each payment contains the same part of the “loan body”, which is calculated by dividing the total amount of the loan body by the number of months to be repaid. To this part is added the interest accrued on the loan balance, which decreases evenly every month. As a result, the first payment will be the largest, and the last payment will be the smallest. The overpayment under this scheme is usually lower (compared to the most popular today - the annuity repayment scheme). It is more profitable to repay a loan early with this repayment scheme due to the principle of calculating interest payments.

Annuity scheme. Under this scheme, every month the borrower pays the same amount, which initially consists of the “lion’s share” of the interest payment and a very small share of the debt. It turns out that the borrower actually pays interest to the bank for the first half of the loan, and then repays the loan body. The overpayment on such a loan is higher (for more details on the comparison and the essence of repayment schemes, see), but nevertheless you can apply.

Paying off credit card debt. Since borrowing funds while using a credit card is also a type of consumer lending, it is impossible to ignore the ways of repaying debt on this unique modern financial instrument. The bank's only requirement for the card holder is to pay every month, which is usually equal to 5% to 8% of the principal amount (plus accrued interest for the billing period). That is, the holder himself decides how much he will pay on the next payment date. This is both good and bad. The good thing is that the borrower does not need to agree with the bank on the exact repayment amount, plus he can repay the loan ahead of schedule at any time. The downside is that the process of repayment with minimal payments alone can last for an indefinite period of time, which will affect the total cost of the loan, because each time you will have to pay interest.

8. By repayment method:

With one-time repayment. These are usually short-term loans. Example - in microfinance organizations;

With installment (deferred) payment. This is a typical repayment scheme for most consumer loans with debt repayment in installments at time intervals established by the agreement. You can learn more about the concept of installment plans in. There is often confusion between the terms installment plan and deferment. They are used in the same sense, although their meaning is somewhat different (details).

Terms of the consumer loan agreement: registration and receipt

According to Law No. 353-FZ, a consumer loan agreement consists of general conditions and individual conditions. The general conditions must be publicly available (for example, on a website), and they serve as pre-contractual information to the borrower. This way we can find out the conditions for receipt and return, frequency of payments, range of rates, responsibility of the borrower (amount of penalty), i.e. that information on which the applicant can make a decision about submitting an application to a particular financial institution.

This information is provided to the applicant free of charge (Article 5, paragraph 5 of the law), but please note: copies of documents containing this information must be provided to the borrower upon his request free of charge or for a fee not exceeding the cost of their production. That is, if you go to the bank and demand to provide 10 sheets of general conditions, then the bank has the right to charge you a small fee, including the cost of paper, toner, etc.

Individual terms contain more specific information - the exact rate, loan term, amount, size and frequency of payments, etc. The individual terms of a consumer credit (loan) agreement are printed in a clearly readable font, starting from the first page of the agreement in the form of a table, the form of which is established by a regulatory act of the Bank of Russia.

Please note that according to paragraph 7 of Article 5, the lender cannot require the borrower to pay payments under the concluded agreement that are not specified in the individual terms of such agreement.

By the way, are you aware that the law (Article 5, paragraph 8) obliges the lender to provide the borrower with the following information for a loan amount of 100 thousand rubles or more. If the total amount of payments for 1 year for all credit obligations the applicant has exceeds 50% of his annual income, then he faces the risk of failure to fulfill his obligations under the consumer credit (loan) agreement and the application of penalties to him. This is about the issue of imposing loans. The state, as you can see, warns the borrower in every possible way about possible danger, and also issues various reminders. Below is an example of such a memo compiled by the Central Bank of the Russian Federation, the main financial regulator.

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The legal requirement to notify (Article 5, paragraph 15) the creditor of changes in contact information is by no means an empty phrase. Many are in no hurry to share their changed contacts, but in this case the lender will not be able to notify the borrower in a timely manner about changes in conditions or provide other useful information.

Let's move on. Article 17, paragraph 5 tells us that if the individual terms of the agreement provide for the lender to open a bank account for the borrower, then all operations on such an account related to the fulfillment of obligations under the agreement, including opening an account, issuing to the borrower and crediting to the borrower’s account a consumer loan (loan ), must be carried out by the lender free of charge. This clause makes it illegal for banks to force a borrower to pay, for example, for opening an account.

And here is an equally interesting paragraph 19, which talks about preventing the creditor from collecting remuneration for the performance of duties assigned to him by regulatory legal acts of the Russian Federation, as well as for services, providing which the creditor acts exclusively in his own interests and as a result of the provision of which a separate property is not created benefit for the borrower. It’s a little hard to understand, but in a nutshell, the lender should not take money for what he is obliged to do by law, look, for example, at the article about learning something new and interesting for yourself.

At the stage of applying for a loan and signing an agreement, the borrower is faced with such a concept as (PSC), which, in fact, should tell a lot about the total costs awaiting the borrower. Banks are required to disclose this most important characteristic of loan requirements. It is designed to estimate the cost of borrowed funds () not only by the interest rate, but also taking into account other payments by the borrower provided for by the terms of the agreement. This is a rather vague concept and is unlikely to tell the borrower anything, so perhaps the best way to estimate your approximate expenses is to look at the total overpayment on the loan in the payment schedule. Although if you enter all the necessary loan parameters and PSC into a loan calculator on some trustworthy website, you will undoubtedly get a more accurate estimate of the total overpayment.

Requirements for borrowers

Let's say a few words about the requirements of credit institutions for borrowers - when the chances of loan approval are high and when they are reduced to zero. They may vary from bank to bank, but in general they can be divided into several standard blocks:

1. Citizenship. As a rule, there are only a few banks that issue loans to non-residents. To receive a loan you need a Russian passport.

2. Age restrictions. Each bank sets the possible minimum and maximum independently. The bulk of loans are issued after the age of majority, but before retirement age.

3. Employment and work experience. Only some dubious MFO or pawnshop can issue a loan to an unemployed citizen LINK. Other financial structures will definitely check the availability of work experience (in total, at least six months) and actual employment at the time of filing the application.

4. Credit history (CI). A positive “credit history” always raises the client’s profile in the eyes of the bank, while past loan arrears may even serve as a reason for refusal. Getting a loan with a bad CI is very difficult and expensive (to reduce the level of risk, the lender in some cases may raise the interest rate), but, fortunately, . Unpaid delinquent debt can put a damper on your immediate credit future.

5. Amount of income. Bank managers are required to calculate the client’s solvency and compare the obtained values ​​with the amount of the requested loan. Without income documents, only non-banking structures lend. This also includes such an important indicator as the credit load - the borrower’s ability to fulfill current obligations to creditors.

6. Geography of registration. You can easily obtain a loan only in the region in which the applicant is officially registered. In other areas this is either difficult or completely impossible to do.

All requirements for borrowers are mandatory. They can be partially bypassed only by regular clients of credit institutions or borrowers of non-banking organizations, where the bulk of the information is recorded from the client’s words (and is not actually verified).

Conditions for issuing loans

To apply for a consumer loan, you will need to bring a package of documents, the composition of which is determined by each credit institution.

When lending to non-bank institutions (MFOs, pawnshops, consumer credit cooperatives), only a passport and, in some cases, any other document are required. This could be a foreign passport, driver's license, student ID, pension card, etc. With such a minimum set of documents, the rate will naturally be high.

You can reduce the interest rate only by taking out a loan from a bank. The interest rates there are much lower, but the list of documents is longer. Here you will have to confirm the amount of your income with the appropriate certificate (2-NDFL) and permanent employment with a copy of your work book or employment contract. In addition, you may need a military ID (for persons liable for military service) or a pension certificate (when lending under a pension program). And if you take out a car loan or a loan secured by real estate, prepare a PTS, CASCO policy, compulsory motor liability insurance or a title document for the property pledged as collateral, depending on the type of loan.

For more information about what documents are required to conclude an agreement, see.

Interest rates also depend on the policy of the specific institution and the chosen loan product. At the time of writing, their minimum threshold is fixed at 14-15%, but what the maximum will be is a big question. In some microfinance organizations, rates are indicated as interest per day; for such predatory loans they can reach 700% per annum. In addition, do not forget about the various additional services, fees and commissions that financial institutions try (and often successfully) impose.

At the same time, large banks practice all kinds of promotions and loyalty programs for existing and new clients. They especially apply to those who receive wages into bank accounts, or who are (were) bona fide borrowers of the bank.

Debt repayment

Here it is necessary to start with the fact that the law (Article 5, paragraph 20) sets a certain order of repayment of the borrower’s debt to the creditor. The amount of the next payment repays the debt under the agreement in the following order:

1. interest debt;
2. principal debt;
3. penalty in the amount determined by this law (see below);
4. interest accrued for the current payment period;
5. the amount of the principal debt (loan body) for the current payment period;
6. other payments provided for by the legislation of the Russian Federation or the agreement.

As you can see, priority is given to debt not paid on time and accrued penalties as a result of late payments on the loan. A person experiencing financial problems often cannot afford to pay the monthly payment in accordance with the contract, and only pays part of the payment (it's good that at least something else is paid!). Accordingly, a debt of interest and principal is formed and the next payment is spent to pay off this debt. It turns out to be a vicious circle, since it turns out that the principal debt does not decrease, and the borrower spends his money to pay off overdue debt and penalties, i.e. he begins to slide deeper and deeper into a hole of debt.

Definitely, the fault is not with the state, which allows banks to issue loans, and not with the banks themselves, which “imposes” them, but, strangely enough, with the people themselves - they simply are not aware of their actions. They hope for chance and end up with serious problems due to their complete financial illiteracy. Only recently have they begun to talk about increasing the level of financial literacy at the highest level, introducing relevant subjects into the school curriculum and educating the population in every possible way. But this is not enough, a person must want it himself, and not under pressure, and if this does not happen, then the majority of the population will never get out of “credit bondage.”

We got a little distracted, but now let's continue. For failure to fulfill obligations to repay the loan, the borrower is punished with a penalty (Article 5, paragraph 21), which cannot exceed 20% per annum if interest under the agreement for the corresponding period of violation of obligations continues to accrue, and 0.1% of the amount of overdue debt for each day of violation, if interest under the contract for the period of delay is not accrued.

The bank may provide many repayment methods, but one of them (Article 5, paragraph 22) must be free in the locality where the borrower received (an offer to conclude an agreement) or at the location specified in the agreement.

With the development of the Internet and cellular communications, many ways to repay a loan have appeared:

• payment from an electronic wallet;
• depositing cash through the bank's payment terminal and at the cash desk;
• transferring money from a plastic card directly at an ATM (provided that it supports such a function) or in online banking;
• making a payment through, which supports the loan payment function, etc.

If possible, you should use repayment methods without commission, and do not delay payment until the last minute - depending on the chosen method, the money can take from 1 to 5 business days.

Important! Any closure of a consumer loan must end with receipt of it, and you can read about the remaining nuances of this important procedure in.

Early repayment

The law gives the borrower an unconditional right (Article 11) to early repayment of a consumer loan. The borrower may, without prior notice to the lender, repay the entire loan amount ahead of schedule within 14 calendar days from the date of receipt, with payment of interest for the actual loan period. And for a targeted loan (clause 3, article 11), the same can be done within thirty days from the date of receipt of the loan, and you can return either the entire amount or part of it.

And paragraph 4 of the same article gives the borrower the right to return to the creditor early the entire loan amount or part thereof with advance notice at least 30 calendar days before the expected day of return of funds. Methods of notification must be provided for in the loan agreement.

You can find out about the rest of the intricacies of early repayment in, in which we described all the nuances of Article 11 of the Law on Consumer Lending and gave detailed comments. Definitely worth considering!

Insurance

This is a very exciting topic, since banks often persistently impose, perhaps, the most popular additional service -. The borrower may encounter two main cases of this “popularly loved” service.

The first case is that the client is obliged to insure the collateral (for example, with a mortgage) or his life (this obligation is imposed on him by law), but the question arises about insurance in a company actively offered by the bank itself (which is part of a common group of companies with it), or from a third party insurer. What does the law tell us in this case?

The lender is obliged to provide the borrower with a consumer loan on the same terms (amount, repayment period of the consumer loan (loan) and interest rate) if the borrower has independently insured his life, health or other insurable interest in favor of the lender with an insurer that meets the criteria established by the lender in accordance with the requirements of the legislation of the Russian Federation (Article 7, paragraph 10).

Thus, the borrower has the right to choose any insurance company that meets the lender's criteria. And in this case, the lending conditions do not change.

The second case is that if the law does not provide for the obligatory conclusion of an insurance contract by the borrower, then the lender is obliged to offer the borrower an alternative option for a consumer loan on comparable terms (amount and repayment period of the consumer loan) without the mandatory conclusion of an insurance contract (same paragraph 10). Here we see that we have every right to refuse insurance, and the lender cannot refuse to provide us with a loan (details in the article:). But, please note, he can change the interest rate on it, since nothing is stated in the law about the fact that it should remain the same.

In paragraph 11 of the same article we see that if the borrower refuses to insure, despite the presence of this requirement in the contract, then the bank has the right to increase the interest rate on an already issued loan. And if the borrower fails to fulfill the insurance obligation (clause 12, article 7), the lender has the right to demand full early repayment of the loan. The same requirement will be legal in the event of a violation by the borrower (clause 13, Article 7) of the obligation to use the loan for the intended purpose, provided with the condition that the funds received are used for certain purposes. Keep this in mind!

Also, any borrower should keep in mind such a term as (the legal possibility of refusing insurance within a certain time from the date of its issue) and be aware of the possibility. And we invite our numerous clients of Sberbank to familiarize themselves with.

If you have difficulties repaying the loan

Anything can happen in life, and the borrower may violate his obligations to the bank to repay the consumer loan taken out. If the delay is not significant, then there is no need to grieve, the main thing is to try to get out of the situation. Read and draw conclusions.

In case of serious violation, banks may take more serious measures than periodic SMS mentions or warning calls. The credit institution may come to the rescue, or, alternatively, the bank may assign the right to claim the loan under.

The collector today is no longer such a terrible beast as before, and the activities of collection organizations began to be regulated in 2016. It specifies the requirements for collection agencies and the restrictions imposed on communication with the debtor as part of activities to recover overdue debts.

And if collectors exceed the powers given to them by law, then the debtor must know.

How else can a debtor help himself in a difficult situation? You can try to contact the bank with a request for or repay an existing loan at the expense of another with more favorable lending conditions (). The basic rule of the borrower is not to hide from the lender and be sure to inform him about possible problems and expected delays!

And finally, we should not forget about the possibility of becoming a bankrupt, but it is better not to bring it to this point, but to try to settle relations with the bank without government intervention.

Customer credit. Advantages and disadvantages

The negative aspects of consumer lending are obvious:

• the interest on the loan will invariably increase the cost of the product or service;
• the loan period is much longer than the time period during which a person experiences pleasure from the purchase, and the reality that replaces it can drive depression (in other words, the debt will hang like an anchor around the neck);
• the risk of overpaying on a loan, which always arises due to ignorance and inattention - a poorly read loan agreement and misunderstanding of the loan terms increases the chances of overpaying more than it seemed at first;
• impulsiveness of purchases caused by the availability of borrowed money;
• The suddenly deteriorating financial condition of the borrower can lead him into a debt hole from which it is not easy to climb out.

And psychologically, being a debtor is not easy, especially if the loan is taken out for a long enough period. Debt bondage, which has no end in sight yet, is not a pleasant state.

Consumer lending also has undoubted advantages:

1. The product may become significantly more expensive in the future. There is no need to tell you how our prices are rising. In such a situation, a loan with its interest may be more profitable than saving money for the necessary purchase. In Soviet times, this could be saved for years and bought for the same money, but our reality today is, alas, not the case.

2. Things we need may disappear from retail sale. After all, we are constantly updating and improving something, so there is a high risk that in a year or two you will no longer find the very thing you wanted to buy. And a newfangled model with a bunch of additional functions is not always what you want.

3. We get the thing we need for use here and now. Spending the entire amount at once on the same refrigerator is not always easy and very significant. But paying off the loan in small pieces over the course of a year is quite an option. Money leaves the family budget little by little and somehow not very noticeably, but we are already using the thing.

4. Possibility to take out a trade loan. To purchase the same household appliances, it is not necessary to visit financial institutions, collect documents, and then wait for a decision. All you need to do is select the product in the store and apply for credit on the spot.

And in conclusion, I would like to remind you that a loan is beneficial only if it will generate profit in the future. This is borrowing to develop your own business or invest in yourself (study, treatment, mortgage, etc.). Otherwise, it is unjustified and unprofitable from the point of view of personal finance management. Funds need to be spent wisely and wisely, without giving in to momentary desires.

January 2019

Today, lending in our country is a fairly popular banking service. Credit organizations offer their clients loans for various purposes - buying a home, car, and so on. Consumer loans are in greatest demand. To choose the optimal loan program, you need to study the conditions for issuing such loans, otherwise you can end up in a debt trap. Next we will explain in detail what a consumer loan means and what is necessary to obtain it.

Definition

A consumer loan is a loan issued by a credit institution to a person to purchase something. Such a loan is provided to the client as a deferred payment for any product or service, for example, the purchase of a telephone, household appliances, the provision of paid medical care, and so on. The bank also issues a consumer loan in the form of a certain amount of money (loan), which must be repaid within the time specified by the agreement.

Types of consumer loans

Today, consumer lending is quite developed. Banks offer clients various programs where they can choose a loan based on their individual needs. Consumer loans are divided into the following types:

1. By type of creditor. This item includes organizations that issue funds for various purposes: banks, pawnshops, trade, and microfinance organizations.
2. By type of borrower. The item is divided into the following criteria: the loan is provided to any group of persons who are citizens of the Russian Federation, a certain group of persons (entrepreneurs), special ones (persons who regularly repay the debt and receive various bonuses from the bank for the second and subsequent loans), young families, socially vulnerable groups persons (working and non-working pensioners).
3. By provision. In this case, the bank requires the borrower to provide a guarantee of return, registering movable or immovable property as collateral. Most often, consumer loans over 500 thousand rubles are secured. Loans that do not require collateral are usually small - from 10 to 500 thousand. Here, only a certificate of income is required from the borrower, but in the modern trend, banks neglect this rule and provide programs that require only an identification document from the borrower.
4. According to the method of repayment. There are three main types - annuity, differentiated and one-time. Annuity implies that the amount to be repaid does not change throughout the validity of the loan agreement. In simple words, the client pays a fixed amount monthly, which includes interest, late fees (if any) and parts of the amount that are used to repay the “loan body” (the amount excluding interest and fines). Differentiated means that the total loan amount is divided into equal parts, taking into account the frequency of repayment. If you look at the schedule of such a payment, you can conclude that the borrower pays the principal and accrued interest. Interest, in turn, is calculated on the balance of the principal debt. As the client pays off the debt, the monthly payment amount decreases accordingly. A one-time payment most often occurs when a person takes out a consumer loan for personal needs from a microfinance organization. This type of payment is assigned mainly if the loan amount does not exceed 10 thousand rubles. The return date is usually 30-60 days. There are no schedules for this type of payment.
5. Directionality. Based on their focus, consumer loans can be divided into targeted and non-targeted. A non-targeted loan for urgent needs is characterized by the fact that the borrower can spend the money anywhere. The bank will not check where the funds were spent. A targeted loan implies that the borrower takes money to purchase a specific product and service, for example, a car, a residential building, household appliances, payment for educational and medical services, and so on. As a rule, banks do not give money to the borrower, but transfer it to the seller’s account. If there was a cash withdrawal, you will need to provide the bank with receipts indicating that the funds were used for a specific purpose.

Conditions for obtaining a consumer loan

When applying for a loan, a banking institution must evaluate the borrower by conducting the so-called scoring (evaluating a potential client for compliance with certain parameters):

1. Age restrictions. Most large banks issue loans to persons from 21 to 65 years of age. This is primarily due to the fact that a potential candidate under 21 years of age may not have the necessary income to repay the debt. In some lending institutions, the minimum age is 23 years.
2. A prerequisite is that the client must be a resident of the Russian Federation.
3. Having a permanent place of work. At the same time, there is a nuance - the work experience at the last job must be at least 3-6 months.
4. Providing identification as well as a second document. Some banks may require a military ID for men.
5. If the bank cannot make sure that the client is able to repay the debt, guarantors or co-borrowers are brought in.

It is important to understand that this list presents general conditions that allow you to apply for a loan - banks may also impose additional requirements.

Bank offers

Bank	Credit	Bid (%)	Term	Sum
Sberbank	Loan for any purpose	12,9	Up to 5 years	Up to 3 million rubles.
Post-Bank	Supermail Online	9,9	Up to 5 years	Up to 1.5 million rubles.
VTB	Cash	11	Up to 7 years	Up to 5 million rubles.
Sovcombank	Standard Plus	11,9	Up to 3 years	Up to 300 thousand rubles.
Eastern Bank	Express loan	11,50	Up to 3 years	Up to 500 thousand rubles.
Home Credit Bank	Cash	10,9	Up to 5 years	Up to 1 million rubles.
Raiffeisenbank	Cash loan	10,99	Up to 5 years	Up to 2 million rubles.
Gazprombank	Easy loan	9,8%	Up to 7 years	Up to 3 million rubles.
Rosselkhozbank	Without collateral	10	Up to 7 years	Up to 1.5 million rubles.
Russian standard	Cash	15	Up to 5 years	Up to 2 million rubles.

Information on loan programs presented in the table is current as of July 1, 2019. Interest rates indicated are minimum.

How to get a consumer loan?

To get a loan from a bank, you first need to decide on the purpose - what the funds are needed for. As a rule, a consumer loan does not require the provision of a large package of documents. Next, we will consider the algorithm for obtaining a loan:

1. The first step is to decide on the choice of lender. You need to study market offers and choose the best option.
2. Secondly, you need to choose a loan product with the most favorable conditions.
3. Then you need to contact the bank’s credit department employee to submit an application and conduct scoring (initial assessment of the client’s reliability).
4. If the bank has previously approved the application based on scoring, then the client fills out a form where you will need to indicate certain data.
5. Next, a package of necessary documents is provided.
6. This is followed by signing a loan agreement and receiving funds or issuing a credit card.

You can also submit an application directly on the bank’s website - many institutions provide a similar service. The application is reviewed within several days. If the decision is positive, the borrower is called to the bank to formalize and sign the agreement.

Documents and requirements

To obtain a consumer loan, you do not need a lot of documents. Next, we will consider the necessary documents for the loan, as well as general requirements for the borrower:

• First of all, you need to provide an identity document (some banks require a second document);
• income certificate in form 2-NDFL for the last 6 months;
• a copy of the work record book with confirmation of length of service at the last place of work for the last 3-6 months;
• citizenship of the Russian Federation;
• The borrower's age is 21 years or older, the age limit is usually 65 years, however, some banks have special programs, for example, for pensioners, where the age limit is expanded, and the limit can reach 85 years;
• if the amount is more than 300 thousand, some banks may require collateral or a guarantor.

What to pay attention to when concluding a contract?

When concluding a loan agreement, you should pay close attention to the following points:

1. Amount and interest rate. The problem here may be a discrepancy with the lender’s advertising offer, so you should carefully study the loan agreement.
2. Additional services. Most often, as a guarantee of the return of funds on a consumer loan, the bank specifies insurance in the contract. All additional conditions increase the total amount of debt, sometimes very significantly.
3. Indication of the total loan amount. The loan agreement must specify the total amount of the loan. It should also indicate what parts it consists of (interest, commissions, etc.).
4. Payment schedule. The repayment scheme and type of payment must be specified in the agreement. The borrower has the right to choose how it is more convenient for him to pay - the bank cannot impose its own conditions.
5. Possibility of early repayment. This right is assigned to the borrower at the legislative level. The agreement should not contain any fines or other sanctions for early repayment of the loan.
6. Non-repayment of borrowed funds and their collection. It is worth finding out whether this paragraph contains information about the assignment of rights in case of non-repayment, and how the bank will act in case of delay.

Video on the topic

One of the most popular types of credit in Russia is consumer credit. About 60% of Russians use consumer lending, which is gaining popularity among all segments of the population every year.

The volumes of consumer lending are so high that they cover the entire territory of Russia and the CIS countries. Today, banks are actively developing this segment, as it is the most advantageous and profitable direction for financial and credit institutions.

Despite the fact that banks actively attract borrowers, there are certain procedures for obtaining a loan. Many banks set an age limit on issuing consumer loans, which allows them to take out loans only to those people who are highly likely to repay the bank by fulfilling all the terms of the loan agreement. In addition, banks require the borrower to have a work experience of at least three months. Some financial institutions may require a foreign passport in order to check whether you have been abroad for the last six months.

Problems of consumer lending

The main problem of consumer lending for the borrower is the high interest rate. As you know, the pleasure of a purchase quickly wears off and you are left with a loan that must be repaid over several months or years. Many people make a hasty decision and apply for a loan, after which they have a problem repaying their debt to the bank. This development of events is one of the main and most serious problems of consumer lending. Therefore, a potential borrower should think carefully about everything before applying for a loan.