The urgent need for money often forces borrowers to obtain loans on terms that cannot be called favorable. First of all, they are distinguished by a high interest rate and a short repayment period, which makes you think about refinancing.
From this review, you will learn about the best refinancing offers for individuals. individuals in 2019.
These loans are difficult to repay and may result in default by the borrower, resulting in negative consequences such as fines and penalties. It shouldn't be allowed. It is much better to find a financial solution that will be beneficial for the debtor himself.
With the help of refinancing in another bank, the situation can stabilize, and the debt can be repaid in full and ahead of schedule, which will significantly reduce the amount of expected costs for servicing the loan.
One of the financial instruments that allow to carry out on-lending to the client is the refinancing of the loan. In fact, this process involves obtaining a new loan, the terms of which are more favorable to the client.
A new loan allows you to close the current debt and get rid of the previous, less profitable loan, in full. When using refinancing, it is necessary to thoroughly study the terms of the proposed loan. Particular attention should be paid to the interest rate. It should be lower than the original loan. The time frame should be longer.
Clients often equate the concept restructuring with refinancing, forgetting that their essence is completely different. If refinancing is expressed in obtaining a new loan, then restructuring includes reissuing an existing loan obligation by establishing more favorable conditions.
Funds received from on-lending are of a targeted nature associated with the repayment of debts that have formed to another creditor.
Using the funds received under the new loan, you can do the following:
The loan refinancing program can apply to those clients who do not have a delay in paying loan payments, and therefore, the issue of refinancing should be raised in advance.
As a result of refinancing, the client has the opportunity to:
Clients who have significant delays in payments and never pay the loan cannot count on refinancing. In order to use the possibilities of refinancing, it is necessary to contact banking institutions. You can find out which banks are engaged in refinancing loans from this article.
The widespread development of consumer lending has given rise to the establishment by financial institutions of various conditions for granting loans. And, if some banks continue to be guided by the principles of loyalty, then others do not limit themselves in the amount of interest rates, which gives rise to a certain number of credit defaulters.
The prevalence of consumer loans is justified by the fact that the provision of credit funds can be both targeted and non-targeted, and is aimed at:
Taking into account the fact that obtaining a new loan, which repays a previously received loan, the repayment terms of which are less favorable, can significantly reduce the monthly burden on the debtor's budget, increase the debt repayment period and combine the entire range of loan obligations in one, the indisputable benefits of refinancing can be argued.
It is possible to talk about whether refinancing a consumer loan is profitable based on information about the conditions under which the most popular banks provide funds for refinancing a loan. Fill out online applications and find out who approves and under what conditions.
Only 12% per annum, it is up to such an interest rate that Rosbank offers to its customers. Refinancing of any kind from mortgages and car loans to credit cards and overdrafts.
Requirements
Great offer from Promsvyazbank. A loan with a decreasing interest rate and the possibility of refinancing other loans.
Bonus! With timely repayment of the loan without delinquency, the maximum reduction in the initial rate by 3% (9.9% - 3% = 6.9%) by 1% each year is possible.
Refinancing a loan at VTB Bank of Moscow is a reliable way to avoid delays. The bank is part of the VTB Group, which includes VTB 24 and Post Bank, which testifies to its reliability and state management.
The proposed rates used for refinancing are classified as the most favorable. The lender is ready to refinance loans issued by borrowers belonging to the group of state employees, as well as those clients who are employed in organizations of other forms of ownership.
Among the main conditions are:
In order to realize the possibility of on-lending, an online application must be sent by the interested person.
Foreign currency loans can be repaid with the agreed amount. Borrowers can use the opportunity to provide "Credit holidays", subject to monthly payments for 3 months.
Loan "It's easy!" from UBRIR to repay existing consumer loans, credit cards in third-party banks. The offer from this bank offers, perhaps, the best rates on loans for refinancing.
Conditions:
Requirements and documents:
Important! Application processing time is 1 day. Depending on the creditworthiness of the client, the rates will change: 15-19% with the possibility of reducing to 13-15% within two months.
Just one visit to the bank, just two documents, that's all you need to refinance a loan in URALSIB. The number of refinanced loans is not limited, the provision of additional funds for consumer needs.
For its part, Rosselkhozbank also offers refinancing of loans from other banks. Honest and transparent working conditions have become the main principles of the work of this institution of the banking sector.
Already today, the refinancing of a loan at Rosselkhozbank can be performed, subject to the following conditions:
The calculator, which is available on the bank's website, allows you to calculate the loan yourself, using the possibility of making differentiated and annuity payments. The choice of payment system is only used by a few banks.
The Bank refinances loans without certificates and guarantors, while providing the right to provide collateral and issue a guarantee.
Credits received in the state currency, euros and dollars are allowed for refinancing, provided that payments on such credits were made by the borrower during the year, starting from the date of receipt of the loan.
The application for refinancing will be approved by clients with a positive history of repayment of credit funds.
Another proposal for refinancing loans from other banks is presented by Interprombank, a Moscow bank.
For residents of the capital and the region, the bank has developed a special and most loyal offer that will allow you to combine a number of loans with a high rate, as well as significantly reduce the cost of servicing them. At the same time, it is possible to increase the period of servicing a single loan.
The main principle by which an agreement or refusal to refinance is granted is the presence of a Moscow residence permit. The terms also apply to residents of the area.
Taking into account the interests of pensioners, the bank increased the age criterion of a potential client to 75 years, which allows the most vulnerable group of citizens to use their financial capabilities on an equal basis with people of working age.
Main criteria:
In addition to the refinancing itself, the bank offers customers to receive additional funds in the form of a loan provided to fulfill any conceived desires.
A favorable offer from Sberbank makes it possible for a wide range of people, namely those clients who are classified as payroll, to refinance those loans received from other financial companies. Additional privileges are granted to civil servants and state employees.
Sberbank is ready to provide on-lending to those clients who have not previously cooperated with the bank. Special conditions have been developed for them.
Basic conditions for refinancing a loan:
Considering that Sberbank belongs to the group of state-owned banks, we can safely speak about the certain status of the bank, its level of reliability, and the presence of permanent partners.
The application can be completed not only as a result of a personal visit to the branch, but also online, which makes it possible to obtain the required loan decision without leaving your own computer.
One of the best offers of 2017 for refinancing loans from other banks was presented by Svyaz Bank. The procedure requires the provision of a loan agreement and a certificate of debt, indicating the bank details to which the newly received loan must be transferred.
Subject to refinancing:
The total loan amount can reach 3 million rubles, with a maximum term of 84 months. The interest rate is set individually. The rate ranges from 13.9%.
A nice bonus is the absence of the need to pay commissions and provide collateral.
To calculate the approximate amount of the fee for using the loan, you can use the calculator, which is located on the bank's page.
The institution is ready exclusively for refinancing targeted loans, namely mortgage lending. Some terms of provision are related to the fulfillment of additional requirements, namely, insurance of the client's life, his health and the mortgage object itself.
If there is insurance, Alfa Bank refinances loans from other banks, setting an interest rate at the level 10,9% . Refusal of insurance serves as a basis for increasing the level of interest.
The mortgage refinancing bank set the minimum loan amount at 600,000 rubles. The maximum rate should not be more than 85% of the price of the property itself, which is the object of the mortgage.
You can get a bank decision on the possibility of refinancing after submitting an electronic application, as well as when visiting the institution on your own. Cooperation with a banking institution is one of the most acceptable ways to resolve the issue of refinancing and get rid of loans that have onerous conditions.
The offer from the Bank "Pervomaisky" is suitable for those who want to quickly "deal" with unsecured consumer loans, credit cards, overdrafts of other banks.
Requirements:
Important! The number of refinanced loans is not limited, the amount of monthly payments is significantly reduced, additional funds are issued for any purpose and a debit card as a gift.
For those who have a consumer loan, service it without delay for at least six months, and will have to repay at least another six months, Gazprombank offers refinancing of loans from other banks with the appropriate purpose.
Clients are guaranteed the possibility of refinancing:
The interest rate depends on the repayment period required by the client. Insurance is essential. Refusal to fulfill it entails an automatic increase in interest by 0.5 points. Offers for current customers may differ slightly from the conditions that apply to cooperation with new customers.
You can make an approximate calculation of the total cost of the loan received using a special calculator posted on the bank's website on the Internet.
Making loans in a hurry often leads to the discovery of pitfalls in loan agreements, high fees for servicing the loan, which can significantly affect the financial situation of the borrower. You can get rid of such loans only by paying them off in full.
You can speed up repayment by refinancing such a loan. Post Bank refinances loans from other banks, which allows not only to reduce the amount of overpayment, but also to combine all existing obligations into one, using the most loyal return conditions.
The Bank is focused on working with various groups of the population, paying particular attention to such categories as pensioners. Special programs have been prepared for them, allowing them to carry out the most profitable refinancing.
The standard interest rate is fixed at 12.9%. The final conditions for pooling loan obligations are determined individually, depending on the information obtained from the client's documents.
The list of banks ready to refinance the obligations of existing and potential customers also includes Binbank. Offered conditions include:
Loans in the national currency are accepted for refinancing, subject to at least three payments being made and the balance of the debt from 30 thousand rubles.
Transparent conditions, simplicity and reliability of the bank provide it with a large number of new customers.
Focusing on mortgage lending, Raiffeisenbank refinances mortgage obligations, along with loans without a specific purpose.
When refinancing a mortgage, a rate of 10.5% is applied (9.99% from the second year). Clients with other types of loans (except for those issued for the purpose of doing business) can receive a new target loan with a rate of 17.25%.
Consultations regarding refinancing issues are provided in any way convenient for the client:
Do you have high interest loans and installment purchases? Tired of keeping track of your monthly payment schedule? Combine loans from other banks and reduce the payment on them! Refinancing consumer loans at SKB-Bank is a great way to combine up to 10 loans and cards into one and pay less.
Refinancing terms:
Requirements for borrowers:
Important! The loan amount cannot be less than the amount of debt under loan agreements subject to refinancing, plus 3%. The maximum loan amount depends on the solvency of the Borrower, Co-borrower (if any). When refinancing a loan opened with PJSC "SKB-bank", when determining the amount of a new loan, 3% is not added, only the amount of the principal debt is subject to refinancing. The amount remaining after refinancing is used by the Borrower for consumer needs.
Hello, dear readers of the online magazine "site"! Today we’ll talk about what loan refinancing (on-lending) is, how to do it correctly and which banks are involved in refinancing loans from other banks (the best offers of 2019 are given in the corresponding section).
After reading the article from beginning to end, you will also learn:
At the end of the article, we traditionally answer frequently asked questions on the topic under consideration.
The presented publication is worth studying not only for those who plan to refinance a loan in the near future. The information contained in the article will be useful to anyone who seeks to improve the level financial literacy. So do not waste time, start reading right now!
What is refinancing (on-lending) of a loan and how to apply for it, as well as where you can refinance a loan from another bank - in our new issue
Term « refinancing" formed from 2 -x words: re – repeated, financing – provision of funds on a paid or free basis.
What does loan refinancing mean?
Loan refinancing - this is the execution of a new loan, in order to repay the current one on more favorable terms for the borrower.
This procedure is also called on-lending. Simply put, refinancing is taking out a new loan to pay off an old one.
From a legal point of view, a loan issued in the course of on-lending is targeted. This is due to the fact that the contract must indicate that the funds provided are used to pay off the debt owned by another creditor.
In most cases purpose of refinancing is a decrease ↓ of the interest rate. Most often, such measures are resorted to by those who have issued a loan for a long time.
Let's give an example : Borrower in 2013 took out a loan for a large amount at a rate 25 % per annum. IN 2019 year another bank offered him a loan under 12 % . At the same time, until the end of payments on the current loan, there are still about 6 years.
The borrower decides to refinance. This allows him to significantly reduce ⇓ amount of monthly payments and correspondingly, overpayment on loan.
Competition in the lending market today is at a very high level. As a result, banks are forced to fight with each other for each client. This inevitably leads to better conditions for refinancing.
Today, the banking sector is characterized by the following changes:
Modern banks allow the borrower to refinance the following types of loans:
The possibility of refinancing a particular type of loan is determined by each bank individually. Therefore, before applying, you should familiarize yourself with the proposed conditions.
The period during which it is possible to repay a loan taken for refinancing is determined primarily by the type of debt paid with its help.
📝 For example, if carried out, you can count on a period within 30 years. If there is a refinancing consumer loan or car loan - the repayment period usually does not exceed 5 -10 years.
Refinancing in most cases allows the borrower to receive a range of benefits:
❗ But you should keep in mind that refinancing is impossible if the current contract contains a reference to prohibition of early repayment.
If it is planned to refinancing , it is important to consider how much time has passed since the last refinancing. Some banks refuse to draw up a new agreement if the loan has already been refinanced before.
Also, lenders can set limits on the time elapsed since the on-lending. In most cases, you have to wait at least 12 months.
It has become more and more popular lately. The reasons for this lie in the ability to fulfill various goals without the need to make savings, For example, buy a car or real estate, meet household needs.
In a highly competitive environment, banks develop lending parameters that are very different from each other. Alone lenders attract customers with more profitable offers, other- ease of design. And often borrowers after receiving a loan realize that it turned out to be unprofitable. In such a situation, the question arises of refinancing .
✍ Take note!
Before agreeing to a loan, it is important to make sure that this procedure will indeed be beneficial. To do this, it is enough to calculate overpayment amount on a new loan and on an existing one and compare them. It is important to take into account not only interest rate , but also different commissions And insurance payments (if they are).
If in the course of the calculations it becomes clear that refinancing will lead to savings, you should estimate its size. If the amount turns out to be significant, there is no time to waste, it is best to proceed with the procedure in the near future.
Main stages of loan refinancing
So, if a decision is made to refinance an existing loan, it is important to do it quickly, clearly and with greater profit. To do this, experts recommend using instruction with a detailed description of each step of the procedure.
On the one side, The legislation does not oblige the borrower to notify the lender of the intention to refinance. However, professionals recommend doing this anyway.
Banks are usually unwilling to let bona fide borrowers go. To keep them from intending to refinance at another bank, they may offer to change the terms of service. At the same time, the borrower Not only will pay the loan on more favorable terms, but will also carry out the procedure much easier and faster.
If, nevertheless, the bank in which the current loan is issued does not go to the meeting, you will have to refinance at another credit institution. Experts recommend approaching the choice as responsibly as possible.
First of all, you will have to compare the offers of several banks you like. You should study the information on their websites, reviews on the Internet on specialized sites and forums. If there is no time and desire for an independent selection of a lender, they will come to the rescue specialized comparison services , and ratings regularly compiled by experts.
When the bank for refinancing is selected, it is important to carefully study all the documentation regarding onlending posted on its website, including:
If you have any questions, be sure to get answers to them by contacting the bank employees. by phone call center or via online chat. Only when all the features of the procedure are clear, you can proceed to the design of refinancing.
To apply for refinancing, in addition to statements you need to submit a package of documents to the bank. Each lender independently develops this list, but there are a number of documents that are almost always required.
The main documents for refinancing a loan include:
In some cases, additional documents may be required, For example, receipts for payment of an existing loan.
After the application and the package of documents are submitted, the bank reviews them. Since refinancing, in fact, is the execution of a new loan, the period for consideration in most cases does not differ from that established for other types of loans.
On average, it takes 5 -10 days . But taking into account the decline ↓ recently average interest rate for loans, the number of applications for refinancing increased sharply⇑. This can lead to an increase in the processing time in popular banks.
If at the end of the review procedure the bank makes a positive decision, the final and most important stage begins - conclusion of an agreement .
☝ Surely everyone knows, but it will not be superfluous to repeat once again - Don't sign an agreement without reading it carefully.
When reading the contract, first of all, pay attention to the following parameters:
When studying a contract, it is important to remain vigilant from beginning to end, carefully studying absolutely all sections. If problems arise and any of the parties goes to court, the decision will be made exclusively within the framework of the signed agreement.
Thus, refinancing a loan is not as complicated as many people think. If you strictly follow the presented instructions, you will be able to avoid many difficulties and successfully refinanced in another bank at a lower interest rate .
Refinancing services are offered by many Russian banks. However, the conditions of different lenders are very different. You can choose the best option by analyzing and comparing the conditions of several banks. Below we consider The best banks that refinance personal loans persons .
To simplify the task of choosing a lender, we provide a description 3's banks with the most favorable refinancing conditions.
VTB Bank of Moscow
is part of the VTB financial group and is engaged in the provision of retail services. The basis of the work of the division is the service of individuals.
In connection with the growing demand for on-lending, the bank has developed an appropriate loan refinancing program . The use of this loan product at VTB Bank of Moscow makes it possible to reduce↓ the loan burden by reducing↓ the rate.
Under the refinancing program, the percentage here is set individually and can be in the range from 11% to 17% per annum . At the same time, special conditions are provided for workers in the field of medicine or education, civil servants, as well as payroll clients.
Interprombank - Moscow financial institution, which was founded in 1995 year. The presented bank is a universal company and offers its customers a full range of banking services.
Individual lending is of great importance in the bank. That is why serious attention was paid to the development of a refinancing program in a credit institution.
On-lending at the bank allows customers to combine an unlimited number of loans. An important condition for this is that the total amount under refinanced contracts must be no more than 1,000,000 rubles . The rate is set from 12% per annum , and there are no additional commissions and insurance.
You can apply for preliminary consideration under the refinancing program on the bank's website. It also provides the ability to calculate the main parameters of the loan.
To date, in Sovcombank
there are a large number of credit programs. They allow you to borrow from 5 000
before 30 000 000
rubles. The bet starts from 12
% per annum.
There is no special program for refinancing existing loans at Sovcombank at the time of writing. However, there is another interesting offer for citizens who find themselves in a difficult situation, called "Credit Doctor" . This loan is designed to improve your credit history.
To make it easier to compare the described offers, we have combined the main conditions for them in the table below.
Table: "TOP-3 banks with the best conditions for on-lending to individuals"
| Credit organisation | How many loans can be combined | Loan amount | Loan terms | Bid |
| VTB Bank of Moscow | Up to 6 loans and credit cards | From 100 thousand to 5 million rubles | For salary and corporate clients - up to 7 years, for the rest - up to 5 years | If the loan amount is up to 500 thousand rubles, from 12 to 16% per annum If the amount is from 500 thousand to 5 million - 12% per annum |
| Interprombank | Any number of loans with the ability to receive part of the funds in cash | Up to 1 million rubles | From six months to 7 years | From 12% per annum |
| Sovcombank | Currently, refinancing is not provided, the program is Credit Doctor | 4,999 or 9,999 rubles | 3 to 9 months | 33.3% per annum |
* For current information on refinancing loans received from other banks, see the official websites of credit institutions.
Many people think that the choice of a bank and a thorough study of the conditions for refinancing, refinancing ends. But experts recommend not to rush. In order for refinancing to be as profitable as possible, you should once again pay attention to several important points.
Information about interest rates for many is not visual. Therefore, experts recommend first of all to produce calculation of the amount of overpayment in rubles. This does not require financial knowledge. Enough to take advantage special calculator .
There are a lot of programs for making calculations on the Internet today. The essence of their action is approximately the same. It is enough to indicate amount, term And bet on the loan being processed to find out what will be overpayment And monthly payment .
If the results of the calculations of the bank and the calculator differ significantly, it is worth asking the experts what this is connected with. Such actions help to understand whether any hidden fees.
When applying for a loan, borrowers are usually confident in their abilities and think that they will never have delays. Unfortunately, no one is immune from financial difficulties or unforeseen situations.
‼ In order not to be shocked in case of unexpected delays, it is important to carefully study the section of the contract regarding fines, even before signing .
On the one side, Only fines for violation of credit obligations are provided by law. On the other side, there is a universal clause - unless otherwise provided by the contract.
Using this fact, banks often additionally establish a fixed amount of the fine . Moreover, some creditors are for persistent defaulters increase ⇑ the amount of the penalty for each missed payment.
In order not to have to overpay additionally, it is first of all necessary to fulfill the obligations assumed in a timely manner and in full.
If the violation was nevertheless committed, you can try to return a fixed fine. To do this, you should apply with the appropriate application directly to the bank. If the creditor refuses to recalculate, for the protection of legal rights, you must go to Rospotrebnadzor .
Most borrowers, when choosing a refinancing program, first of all pay attention to the proposed rate. Earlier we have already told why this characteristic is not quite indicative. However, for an initial comparison, the interest rate is quite suitable.
Today, in the market, rates for refinancing programs differ significantly in different banks - they vary from 9 to 23% per annum . But it should be understood that not always a loan at a lower interest rate is the most profitable.
When comparing, it is important to use not only annual, but also effective interest rate . It is this indicator that allows you to calculate the full cost of a loan for refinancing and correctly assess the profitability of the program.
Effective interest rate represents the real cost of the loan, which takes into account all fees and charges applicable under the contract.
Many banks lure the client with supposedly profitable offers. Only with a detailed study of the effective interest rate does it become clear whether this or that program is really beneficial.
When choosing a refinancing program, you should also pay attention to the presence in the contract of information about various additional commissions . Most often, such payments mean loan application fee, opening And maintaining a credit account, consideration of the application and others.
It is important to understand that such commissions by law prohibited . Moreover, there is already a lot of jurisprudence on this issue. However, some banks still mislead borrowers.
Basically, clients have every right disagree with certain clauses of the contract relating, for example, to illegal commissions. However, in this case, there is a high risk that the refinancing will be refused, or the loan will be issued at a higher rate.
☝ Experts recommend those who met with the requirement to pay various commissions, sign an agreement on the terms of the creditor. When the transaction is concluded, and the money is received, you must write to the bank claim . In such a document, it is necessary to state the facts of violation of the law and put forward a demand for the return of funds that went to pay for the services imposed by the creditor.
It is important to remember that loan servicing is not a service that clients need. On the contrary, it is the duty of the creditor. Practice shows that having received a claim, banks usually return funds without any problems. Lenders do not want to bring the case to court, as they know well that the law is on the side of the borrower in this matter.
Not only refinancing the loan helps to reduce the overpayment. Of great importance in any loan agreement is the ability at any time without limitation to make complete or partial early repayment .
🔔 When studying the contract, it is important to pay attention to the algorithm for early repayment.
All conditions for the implementation of the procedure in question must be clearly stated in the agreement. This concerns, first of all, how many days in advance and with what document the borrower must notify the bank of his intention to repay.
At the same time, it should be remembered that the lender does not have the right to establish fines and commissions for early repayment. However, in some cases, temporary restrictions may be provided - a moratorium for several months.
If you take into account all the points described above, the refinancing procedure will be the most profitable.
Refused to refinance: the main reasons
Experts warn those who have decided to refinance loans: in this area, the probability of failure is quite high . Banks usually do not notify borrowers why they make a particular decision. However, there are a few key points that most often lead to failure.
No lender wants to deal with unreliable clients. That is why, if you apply for refinancing in the presence of existing delays, the application will be refused.
If a borrower with delays in making payments still wants to refinance, he will first have to pay off all the delays. After that, for several months usually at least 3 -X) payment must be made on time. This approach helps raise chance of approval of the submitted application .
By the way, the likelihood of approval increases if the borrower provides the bank additional security . It could be liquid property as collateral or solvent co-borrowers or guarantors.
Another way to resolve a problem in a difficult situation is to seek help from credit brokers . At the same time, it is important to carefully choose a partner company so as not to fall for the bait of scammers.
Most banks without fail, when considering the possibility of drawing up a refinancing agreement, pay attention to the reputation of the borrower.
At its core credit history represents information on how an individual fulfills its credit obligations.
It accumulates in BKI (credit history bureau). The retention period for this information is 15 years.
In order to quickly find out which of the numerous BKIs the borrower's financial history is located in, you need to know yours. How to find out, we described in detail in a previous article.
With the consent of the potential borrower who applied for a loan, the bank has the right to request information from the CBI. Having studied them, the creditor makes a decision on the issuance of funds or refusal ( both for traditional credit and for refinancing).
It is quite natural that if there is negative information in the BCI, the bank will most likely make a negative decision on the submitted application. To avoid this, experts recommend that borrowers find out what information is contained in their credit history, in advance.
You can get information about your credit history using several methods:
It takes a certain time for the bank to be convinced of the responsibility, as well as the solvency of the client. That is why, when considering an application for refinancing, lenders enter restrictions on the term of the loan to be renegotiated.
In most cases, you will have to pay it on time at least 3 months . Some banks require an even longer minimum term - from six months .
Knowing the main reasons for refusal to refinance, borrowers can decide for themselves how appropriate it is for them to apply at the current time.
The growing popularity of refinancing loans has led to the fact that many borrowers have questions about the features of this procedure. So that you do not waste time looking for additional information, we answer the most popular ones.
The list of documents for refinancing a loan issued by another credit institution in most banks contains income statement . At the discretion of the creditor, it can be drawn up in the traditional form - 2 - personal income tax, and in the form of a bank.
However, some banks offer individuals to refinance without confirming their income.
It's important to keep in mind what in this case terms may be less favorable. First of all, it concerns a higher interest rate.
Moreover, it will not work to refinance a loan without informing the bank of the amount of your income at all. The application for on-lending must contain information about the amount of income, as well as about the employer and the position held. Although there is no need to document this information, it is used in the consideration of the application.
Refinancing secured by real estate is, in essence, a regular refinancing, subject to participation in a collateral transaction.
Such a scheme can be used to withdraw from the encumbrance of an object purchased with a mortgage with its replacement for another. This may be necessary when the mortgaged property needs to be sold.
On-lending secured by real estate
Refinancing secured by real estate has the following advantages:
At the same time, it often does not matter for the bank where the funds received will be directed - to repay current loans or for other purposes. In this case, the pledge acts as a kind of guarantor. If the borrower refuses to pay, the bank will sell the property received as security and return its money.
P.S. In one of the articles in our magazine, you can read an article on how to do without proof of income.
📣 Experts warn: get a positive decision on the application for refinancing in the presence of overdue debts almost impossible . This is due to the high risk of lending to such borrowers.
However, in some cases the bank that issued the overdue loan, goes to the borrower to meet. If there is a refinancing offer in the lender's product line, they may agree to provide it to their client. But you should be prepared for the fact that the bank may require additional collateral - surety or pledge .
In fact, refinancing is primarily intended not to solve problems with overdue debt, but to improve the terms of payments. If there is nothing to pay the loan, you should pay attention to other possibilities - restructuring or bankruptcy .
You can complete and submit an application for refinancing, contacting the bank office where the procedure is to be performed, or, by visiting his website.
For preliminary consideration, it is enough to indicate the basic information:
In case of filing online applications for loan refinancing the resulting solution will be preliminary . That is, approval does not guarantee the execution of a loan agreement.
For further consideration, it is necessary to provide the bank with the necessary documents. Only after their analysis will be issued final decision .
To make sure that refinancing will be really profitable, it is important before signing the contract calculate the main parameters of the procedure. It's almost impossible to do it manually.
Nevertheless, to carry out calculations in just a few minutes is within the power of everyone. To do this, it is enough to use any specialized calculator .
Today, their choice on the Internet is quite extensive. But the principle of operation is almost the same.: just enter the main parameters of the loan in the fields - bet, size And term in order to find out in just a minute what the amounts of payments and overpayment will be.
Recently, the popularity of refinancing in Russia has been continuously growing. Many citizens took out loans during the crisis at very high rates. Today, against the backdrop of a reduction central bank the key rate, there is a decrease ↓ interest on loans.
In such a situation, the desire of citizens to make the conditions for servicing their obligations more profitable is quite natural. For this purpose, you can use refinancing loans .
Refinancing helps not only cut ↓ bet , but also reduce ↓ payment amount And overpayment . The result is an improvement in financial well-being.
In conclusion, watch a video about why a bank needs refinancing loans and what are its benefits:
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Currently, consumer lending is one of the most popular banking services for the Russian population. In order to reduce their own expenses, a number of borrowers are looking for bank programs that can offer the lowest interest rates on loans.
Any appeal of the client is considered in the bank on an individual basis. At the same time, the lender evaluates everything: a person’s age, work activity, marital status, income, whether he owns transport or real estate, existing debts, etc. All this is called scoring.
Let's figure out which bank has the lowest interest.
The loan interest is determined by the influence of many conditions, for the most part it depends on the amount requested by the client and the time of return, on the presence of a guarantor or collateral. If the latter are available, then the rate will decrease, and the first two points directly increase it.
How to choose a bank that will have the most favorable interest rates? First you need to understand exactly what amount is required and for what time period. If a client needs a small loan, from one hundred to one hundred and fifty thousand rubles, then almost every bank can issue it without any problems. You will only need to confirm your income using a certificate in the form 2-NDFL.
Which bank gives the smallest percentage is interesting to many.
If an amount in the region of five hundred thousand rubles is required, then the client will need a copy of his work book and a number of additional documentation: these can be SNILS, a passport, TIN, PTS, etc.
When a person is counting on a large loan of five hundred thousand rubles or more, he must provide the bank with security in the form of a pledge of a car or real estate, or by attracting a guarantor. If such conditions are not met, then the organization will immediately refuse the client.
It is important to find out in advance which bank has the lowest interest.
As soon as a person is determined with the amount of money he needs, he must study all the banking companies available in the city. This is done quite simply, you just need to drive in the search bar of any browser a request for loans in banks of a particular city. Already from the first links it will become clear which companies are nearby, as well as what conditions they offer.
In addition, you can try to apply to the following banks:
- "Renaissance Credit" - from 18.9% per annum;
- "East" - from 15;
- "Tinkoff" - for fifty five days - 0%;
- Alfa-Bank - also 0%, but for sixty days;
- "OTP Bank" - from 14.9;
- "UBRD" - from 15;
- "SKB-Bank" - from 19.9;
- "Sevcombank" - from 12.
It is best to take a consumer loan in the following organizations.
It is worth contacting here for those clients who want to receive a large amount by providing a property they own as collateral. The maximum loan amount can be up to fifteen million, the beginning of the interest rate - from ten per year. You can sign a contract for up to twenty years. In this case, you need to confirm your income without taking into account commissions.
It has a rate of twelve percent per annum, the most advantageous offer is "Money", intended for pensioners. No more than one hundred thousand rubles can be approved here. Refunds must be made within one year. Determining which bank has the lowest interest can be difficult.
For offers with a guarantee at Sberbank of Russia, the rate starts at 12.9 percent per annum. The client can borrow funds in the amount of up to three million rubles, while the maximum loan period is not more than five years.
For certain categories of clients, including state employees, interest rates are offered from the Bank of Moscow, starting from 15.9 per year. Large sums within one and a half million are approved up to sixty months.
In "VTB 24" there is the possibility of obtaining a loan called "Quick", fifteen percent per year, the maximum amount is up to one million rubles. Lending is carried out for a period of six months to three years, the smallest amount is one hundred thousand. Which bank has the smallest loan percentage is not an idle question.
Without guarantors and collateral, a loan can be issued:
In "Renaissance Credit";
In "Russian Standard";
In "Alfa-bank";
In "UBRD";
In "OTP-Bank";
at Orient Express Bank.
Credit cards are most advantageous to take in the following banks:
- "Sberbank" - from 25.9 percent per year;
- VTB 24 - from 28 percent;
- "Russian Standard" - from thirty-six percent.
If the client has a damaged credit history or he does not have official employment, which can be confirmed with the help of certificates, then you should choose options for obtaining loans in such companies that are engaged in remote work via the Internet. Such organizations include "Touch Bank", "Tinkoff Bank", "Interactive Bank", etc., sending credit cards by mail.
In addition, there is also the possibility of applying for help to microfinance organizations.
The most profitable mortgages are offered in such banks as:
- "Sberbank of Russia";
- "VTB 24";
- "Absolut Bank";
- Loko-Bank.
Other organizations offer higher interest rates. However, this does not mean at all that it is unprofitable to take a mortgage in them. The fact is that there are a large number of important factors. So, interest can act as a bait, and after signing the agreement, it will be necessary to pay additional payments and commissions.
Which bank has the smallest loan interest, we have determined. What's next?
There are a number of conditions due to which customers can get better offers:
Presence of property under pledge;
Salary or other card of the bank where the loan is issued;
Having a good credit history;
Certificate of income with the receipt of large amounts over a long period of time.
Information is constantly updated on banking websites, including also interest on loans. If today they are low, then tomorrow they can grow, so you need to constantly monitor the relevance of information on the websites of the banks of interest to the client.
Not everyone knows which bank has the lowest mortgage interest.
Recently, many borrowers have become interested in the issue of refinancing loans. This is due to the fact that either the loan was taken on not the most favorable terms, or the borrower's financial situation has now changed. In this case, it is possible to refinance the loan.
Here are five in which you can carry out refinancing:
We found out which bank has the lowest interest.
Banki.ru collected the top 10 refinancing loans that can be issued in Moscow banks. Now refinancing is one of the most popular banking services.
It allows the borrower to combine several loans into one and reduce the monthly financial burden, and for the bank it is a good way to expand its loan portfolio and attract new customers.
In addition, all banks (except Russian Capital) that are in the top 10 allow you to receive additional funds for personal needs.
Most often, banks allow you to refinance up to five loans (consumer loans, POS loans, car loans, credit cards). For mortgage refinancing, credit organizations usually offer separate programs, so they did not participate in the rating.
Of the banks that made the list of leaders, only Sberbank and Rosbank are not ready to refinance POS loans, and Transcapitalbank is not ready to refinance credit cards. At the same time, the programs do not exclude the receipt of money for any purpose that the client can spend, including the repayment of "non-refinanced" products. In "Russian Capital" you can receive funds only for the repayment of non-targeted consumer loans.
- Minus 1 p.p. when drawing up an insurance contract.
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- Minus 2 p.p. when drawing up an insurance contract.
- Minus 5 p.p. when drawing up an insurance contract.
- PIf you refuse insurance, the rate does not change, but the bank may refuse to issue a loan.
- Minus 2 p.p. when drawing up an insurance contract.
Why should I refinance?
Once Vasya took out three loans:
* March 1, 2016: cash loan in the amount of 200 thousand rubles for three years at 27.63% per annum.
On October 1, 2017, Vasily decided to combine all loans into one and applied to the bank for refinancing. At that time, he had about a year to pay for each contract, and the total debt amounted to 500 thousand rubles. The bank offered two options:
* reduce the payment by increasing the term of the loan;
* reduce the amount of the final overpayment, while maintaining the term of the loan.
How beneficial is it? See for yourself.
According to the terms of the rating, the offers are ranked by the size of the interest rate that is valid for a given period and the amount of the loan (if the rate is the same - in alphabetical order). For reference, the table shows the maximum loan amount, while the interest rate applicable to the maximum amount may differ. If the bank sets a percentage range within which rates are determined individually or vary depending on parameters not taken into account by the rating conditions, then the maximum rate of the range was taken for comparison. Programs, the terms of which provide for any fees/commissions (for example, for lowering the rate), as well as products for which the maximum rate is not disclosed by the bank, did not participate in the selection.
When calculating the interest rate, discounts for having a positive credit history in "one's own" bank, as well as benefits for state employees, payroll, corporate clients and bank depositors were not taken into account. If within the program it is possible to obtain a loan, both with and without insurance, then the base rate was taken to be the rate that is valid when the service is refused. For reference, the table shows the amounts of "discounts" that are relevant subject to the conclusion of an insurance contract.
The review was compiled according to official websites and call centers of banks as of September 28, 2017.
Anastasia BELIK, department of analysis of banking services of the information portal Banki.ru
Infographics: Banki.ru
On-lending of non-purpose loans is a rather demanded service of commercial banks, because it provides borrowers with the opportunity to reduce the financial burden on the borrower's budget. In addition, banks are actively promoting a financial product because it can be used to close several loans at once, plus get cash for consumer needs, and at the same time, monthly payments will be lower. But in fact, is refinancing a consumer loan profitable, and if so, which commercial bank offers the best conditions.
The essence of this program is that the borrower takes a new loan to pay off his obligations in another bank. That is, the bank that conducts on-lending allocates funds for a specific purpose - the repayment of loans. And the main advantage of the product is that the size of the monthly refinancing loan payment is less due to an increase in the loan term and a decrease in the interest rate.
Banks carry out on-lending under certain conditions. For example, if you have several loans in different banks, then you can combine them into one and pay only one bank. At the same time, the bank has a number of requirements both for the loan and for the borrower himself. In particular, the requirements may relate to the term of the refinanced loan, for example, at the time of refinancing, the payer must already repay part of the debt.
Please note that most banks have a single requirement for all borrowers - this is the absence of overdue debt on current obligations.
As for the lending process itself, it is quite lengthy and troublesome. The process begins with the preparation of documents. Insofar as the borrower draws up a bank loan, he needs to prepare the maximum package of documents, including a certificate of income and a document confirming employment.
There is another significant nuance, if the borrower refinances a consumer loan with collateral, then the bank may require collateral for the loan for refinancing. That is, the pledge and guarantee of individuals will again act as a guarantee for a new bank loan, and, accordingly, the relevant documents must again be prepared for the object of pledge and guarantors.
In general, the on-lending process will look like this: you first choose a bank that provides the service, then collect documents and submit an application. In case of a positive decision, you will have to contact the lender in order to apply for early repayment of your loan, you definitely need to find out the exact amount to pay off the debt and interest, you will need this information to apply for a refinancing loan.
In the future, you will need to sign a loan agreement with another bank and pay off your existing debts. Here, events can develop in different ways, either the new lender will transfer the borrowed funds to pay off the debt, or the existing obligations will be closed by the borrower himself after receiving the cash, and then provide a document confirming the intended use of the funds.
Important! If the allocated funds under the refinancing program were not used for their intended purpose, the new lender will raise the rate.
If we talk about whether it is profitable to refinance a consumer loan, then the question is ambiguous. To be more precise, the benefit will depend on several factors:
That is, when choosing a proposal that is beneficial for you, you should first of all pay attention to the percentage that the bank offers as part of the consumer loan refinancing program. Among other things, it should be borne in mind that the interest rate does not determine the full cost of the loan, because the lender charges an additional fee for their services, including opening and maintaining a credit account. Therefore, first of all, ask the loan officer what is included in the full cost of the loan, and what annual percentage will be valid in the end.
Next, you should pay attention to the loan terms, because the longer the loan term, the more you will overpay the bank. Before applying for a new loan, ask a loan officer to create a preliminary payment schedule for you and compare the amount of overpayment on current obligations and on a loan for refinancing. The fact is that refinancing is unlikely to be profitable if you overpay on it more than on existing loans.
No less important for the borrower will be the amount of the monthly payment. As a rule, if you use a loan for refinancing, it means that you have to pay a smaller amount every month, otherwise it will be inappropriate to refinance. By the way, do not forget that all banks insistently offer to take out personal risk insurance in an accredited company or subsidiary. You can cancel the insurance policy, but the bank may increase the annual percentage. And if you agree, you will have to pay for the policy at a time for the entire loan period.
Advice to borrowers! If you repaid a bank loan ahead of schedule through on-lending, you have the opportunity to return part of the insurance premium for the period during which you did not actually use the borrowed funds.
Many commercial banks provide this service on different terms. To understand in which bank refinancing a loan is more profitable, it is worth comparing several offers. Namely, to review offers, rates and requirements for borrowers.
Here you can refinance a consumer loan. Loans from other banks are subject to refinancing for a total amount of up to 750 thousand rubles without collateral and up to 1 million rubles with collateral or surety. The maximum term is up to 60 months. As for other conditions, the client has the opportunity to choose a debt repayment scheme: annuity or differentiated payments. At the time of application, the loan repayment period in another bank must be at least 1 year from the date of the first payment without delay.
As for the interest on the loan, the minimum value is 12.9%, which increases depending on the term of the agreement and the category of the borrower. Favorable conditions can be obtained by employees of state institutions. The base rate increases by 6 points in case of cancellation of insurance.
The bank can refinance up to six loans opened in other financial institutions. The interest rate is from 13.5% per year, with the amount of debt above 600,000 rubles and from 14 to 17 percent with an amount of less than 600 thousand rubles. The maximum loan amount is up to 3 million rubles, for a period of up to 60 months.
The nuance of the service is that with the help of this program you can choose two options: reducing monthly payments by increasing the loan term, or reducing the total overpayment by reducing the term of the contract. In addition, you can borrow an additional amount of funds for personal needs.
The Bank does not refinance loans from banks belonging to the VTB financial group.
Here, loan refinancing is carried out on the following conditions: the rate is from 12%, the term is up to 5 years, the amount is up to 1,000,000 rubles, the number of loans is not limited. That is, here you can take one loan to pay off any obligations to banks, plus receive additional funds for personal needs.
As you can see, different commercial banks offer similar conditions for on-lending. That is, interest rates are not much different from ordinary consumer loans. The most profitable refinancing of a consumer loan will be subject to certain conditions that were listed above. But in addition, the borrower can make on-lending even more profitable for himself:
Thus, to summarize, the refinancing service is far from always profitable and appropriate for the borrower. If you are already paying a loan on favorable terms with an acceptable interest rate, then changing the loan is pointless. Refinancing will be really profitable only on condition that the rate on the current loan exceeds 25% or more.
