How to take a consumer loan - 10 steps to achieve a dream
Sometimes for a large purchase or other purposes, a certain amount of money is missing. If you know that this amount can be found, but it will take time, now it is possible to take a consumer loan. We will take a look at what steps to take in order to do this, if you have a chance to get it and which of the documents you need, we'll talk further.
Before you take a consumer loan from a bank
First of all, determine for yourself why you need a loan: is it really an urgent and necessary purchase or is it a momentary whim. For example, you wanted to replace the old, but still quite working TV with a new one. For three or four months, your income allows you to collect the necessary amount without borrowing money.
Perhaps it is worth waiting for this time and buy a TV without interest? Remember that no matter how attractive the loan rates may be, you still overpay for the purchase.If, for example, the washing machine has broken and cannot be repaired, and without it in any way, then it is worth thinking about a loan.
If you understand that you cannot do without a loan, then you should think about the amount that you can pay on it every month without much damage to your budget. Keep in mind that the loan must be repaid on time and in full. His failure to face the troubles, as will be written below.
Examine offers on consumer loans in different banks, compare loan rates, repayment terms. It is necessary to calculate in which of the banks the overpayment on it will be minimal and under what conditions. Naturally, everyone wants to take a consumer loan at a minimum percentage.
When the picture becomes more or less clear to you, it is worthwhile to proceed to the procedure for obtaining a consumer loan. What is needed for this?
How to take a consumer loan - successful steps
Determine the type of loan depending on its purpose. This may be a commodity credit for the purchase of a particular product or a certain service, a loan for a trip, a loan for unspecified purposes (cash).
If this is a loan for the purchase of goods, then it can be issued directly in the store.It is quite convenient, but not always profitable. It is better to prepare for the purchase, examine the offers of banks and find stores with which they work.
In the same place, you will find out the hotline numbers where you can get more information. A loan for uncertain purposes is usually less profitable - the rates on it are somewhat higher.
Check to see if you belong to the category of citizens who are entitled to certain benefits - a single mother, a young family, a working pensioner, a student, etc. Usually, for such a social-age group, credit conditions are somewhat better.
Determine the required loan amount. If it is a commodity consumer credit, specify whether a down payment is needed to purchase it and how this contribution will affect the terms of lending.
If this is a loan for an unspecified purpose, decide what amount you really need. For example, for the trip you needed 30,000 rubles. In this case, taking 100,000 rubles does not make sense; you will regret a hundred times that you have taken such a sum.
Find out all the rates for a particular type of loan, use the loan calculator on the bank’s website to calculate the monthly payments.Keep in mind that depending on the source data the amount of payments will always be different. If the amount of the payment is unacceptable to you, change either the loan repayment term or the amount.
Determine how you can guarantee timely payments and loan repayment. If you have a property, a car or valuables, this can serve as a pledge. If there is nothing like that - think who can act as your guarantor.
Keep in mind that the guarantor is liable to the bank with its property. And it will be he who will be attracted to repay the debt, if for one reason or another you cannot pay it.
Carefully read the terms of the loan and the terms of its repayment. Do not hesitate to ask for clarification if this or that item raises doubts - you must be clear about what is waiting for you, what sanctions may be in case of late repayment and so on.
Collection of documents. As a rule, a package of documents is standard:
- Employment history
- Income statement
- Pension certificate
Applying for a consumer loan in a bank.This can be done both at a bank branch and on the institution’s website. After studying your application and the documents provided by you, a bank employee will contact you and explain the conditions under which you can get a loan.
Since you are submitting copies of documents, you can apply at once to several banks and wait for their decision in order to choose the best offer.
Signing a loan agreement. Even after all verbal explanations, the contract must be carefully studied, especially what is written in small print. Usually the most important information is contained there. You can sign a contract only if all the points are clear to you and you agree with them.
It remains to obtain a loan and monitor its timely repayment. If you have already taken a consumer loan before, and there were no problems with its repayment, you have a positive credit history. Due to this, the conditions for granting a loan may be more interesting.
Late payment of the loan spoils your credit history. Remember that when a loan is not repaid, collectors will call you after another reminder of the bank.Believe me, there is nothing pleasant in communicating with them. The result of collectors may be the loss of collateral. Therefore, it is not worth joking with a loan.
And remember that you take someone else's money, and you have to give your own. Think more than once: perhaps you will find a way to do without a loan.