Hello! In this article we will talk about the credit line.
Banks are developing various tools to provide borrowers with easier access to money. A credit line is one such tool. I will talk about what a credit line is, what types of credit lines are and what are the requirements for borrowers.
Bank credit line- is the obligation of the bank in a certain amount for a certain time.
In simple terms, this is long credit, the amount of which you can spend gradually.
There are two types of credit line limit: credit limit and debt limit. In the first case, the upper bar is called; you cannot take a loan for a large amount. In the second case, on the contrary, the upper bar is called, more than which one cannot be indebted to the bank.
The credit line is most often issued for 1 year. Much less than 3 or more.
If we compare a classic loan, for example, a consumer loan, then it looks like a line of credit. There is also a loan amount, interest and repayment terms. But their main difference is as follows: a credit line can be used when the borrower needs it. Let's look at an example:
You are given a credit line for 300 thousand rubles, for a period of 3 years. In the first six months, you can spend 100 thousand rubles from this credit line. In the second half - 50. And then every year to spend another 50 thousand credit funds.
For the borrower, this policy is more convenient. He can independently decide when he needs money, in what amount, and simply provide everything to the bank Required documents. This reduces the amount of time it takes to process an application.
There are five types of credit line:
The main ones, which are used by almost all borrowers, are: renewable and non-renewable. Others are used when working with . Let's discuss each type in detail.
Non-revolving line of credit- a convenient tool for banks and borrowers. A person once draws up a loan for a certain amount and can withdraw money as needed. Without additional provision of documents, execution of contracts and other joys of the banking bureaucracy. The mechanism of operation is as follows:
the borrower draws up a line -> withdraws funds -> gradually repays the loan -> withdraws more -> repays the debt.
And so it goes until the limit is exhausted. credit issuance, the term of the contract will not expire or the terms of the agreement will not be violated. Refunded money cannot be reused. Over time, the non-revolving line of credit decreases.
Revolving credit line differs from non-renewable in that the borrower gets the opportunity to use the money that he returned to the bank. And interest is charged only on the amount that was spent. Additionally, with a revolving line of credit, the borrower is provided Grace period during which he can use borrowed money without interest. The main thing is to return them before the expiration date.
Revolving line of credit - the mechanism of credit cards.
A revolving line of credit is also called a revolving line, comparing the mechanism for issuing, returning and using money with revolver charges. As soon as you spend a certain amount, a shot occurs and the cartridge flies out of the drum. As soon as you return the money, you load a new cartridge, which can also be fired. This is very convenient, and this practice is more common in global lending.
But convenience comes at a price high interest. The rate on a revolving line of credit is noticeably higher because the bank takes on additional risks. And if this entity, then the bank risks doubly, because it cannot track what the company needs money for and how it manages it.
This is a credit line that is issued to an organization for several "projects" at once. This may be the supply of equipment, repairs, purchase of materials. First, a general agreement is drawn up for the loan amount, which indicates the ceiling of borrowed funds, and then a separate package of documents is collected for each of the projects.
After registration, during the entire term of the credit line, the company can borrow money for pre-agreed projects in the amount that they need right now.
In its mechanics, it is very similar to (a short-term credit line, which is automatically repaid by the receipt of funds on). Only an on-call credit line is issued for a longer term. The company receives a certain lending limit, takes the money, returns the amount to the bank and can get a loan again.
A credit account is opened for the client, from which write-offs occur if the company does not have enough funds. It is very similar to an on-call line of credit and differs only in the mechanism for maintaining accounts.
Banks with the opening of credit lines take on much greater risks than with the issuance of conventional loans. That is why the conditions for obtaining a credit line are a little tougher:
These are the basic requirements that are described on the websites of banks. But in reality there are even more. Since the credit line agreement is concluded individually with each client, the conditions and requirements of banks may be different.
A credit line is a convenient banking tool that allows you to pre-set credit limit and use the money as needed. The most popular line of credit product is the credit card. A line of credit is much more expensive than usual target loan, and the bank makes more stringent requirements for future borrowers.
Foreign citizens are interested in loans for the purchase of real estate, cars, as well as for consumer and other purposes. From a legal point of view, migrants are the same borrowers as Russians. But the criteria for evaluating foreign clients are tougher, lending conditions have their own specifics. We will analyze which foreigners can apply for a loan and under what conditions.
Open bank offers
Requirements for borrowers:
A loan without collateral and guarantors for residents of cities and regions of Moscow and St. Petersburg. Bank Requirements:
Borrower requirement:
Requirements for the borrower:
Requirements for the borrower:
Requirements for the borrower:
Banking legislation does not restrict the provision of credits and loans to foreign citizens in Russia. This type of activity does not fundamentally differ from the traditional forms of financing used by Russians.
Lending to foreigners is not regulated by additional standards, norms, and regulations.Banks themselves decide whether or not to provide financing to a particular borrower, based on:
The procedure implies in-depth due diligence of a foreign borrower and the submission by him of a number of additional documents.
All migrants can count on receiving financing from Russian banks, but the likelihood of an application being approved largely depends on the specific status and citizenship of a foreigner.
Attention! Banks are most loyal to borrowers from the countries of the Eurasian Economic Union, followed by citizens of other CIS countries and other foreigners.
A temporary residence permit is perceived by banks as a sufficient basis for considering a foreigner as a borrower (this also applies to a residence permit).
Persons with this status live for a long time in Russian Federation, study or work, many start families, have a confirmed income. The situation is much easier if a foreigner with a residence permit or a temporary residence permit is able to provide additional security in the form of liquid collateral.
List of financial institutions that have credit cards and other types in their line banking products for foreign citizens, changes periodically. The popularity of such lending is growing, many banks remove the clause on Russian citizenship from the requirements for borrowers.
| Name of the bank | Go to online application |
|---|---|
| Renaissance Credit | |
| Eastern Bank | |
| ICD | |
| Raiffeisenbank | |
| Opening | |
| ATB Bank |
Foreign citizens who have an official job and registration can get a loan. Financial and credit institutions are more loyal to residents (these are citizens who continuously stay in Russia for more than 180 days a year and pay taxes here). It is much more difficult to collect debts from non-residents, since the country lacks a developed arbitrage practice in this direction.
Standard Conditions - availability of official income, proof of employment, registration. Additional requirements are often:
Important! Borrowed funds are provided to foreigners at relatively high interest rates, and credit terms are reduced. This often requires guarantors or co-borrowers, a letter of guarantee, liquid collateral.
It depends on the bank, the loan product, the personality of the borrower and other factors. It is usually required to submit the following doc package:
If a pledge is provided, documents confirming the ownership and right to dispose of this property are required.
Other things being equal, foreigners are perceived by banks as less reliable borrowers than Russians. This is due to the complexity of debt collection and the impossibility of verification credit history(there is always a risk that the client is listed as a defaulter at home).
Important! To increase the chances of financing, a foreign citizen should apply to a bank that has branches, representative offices or other structural units at home. For example, it is better for an Austrian citizen to apply to Raiffeisenbank.
Video: Mortgages for foreign citizens in Russia.
For foreign citizens obtaining a loan in mall difficult, since scoring systems do not include the analysis of such risks as statelessness. Also, standard questionnaires do not provide for the input of any information, except for information about the passport.
To receive money on a card or in cash, a foreigner needs to contact the bank You can't order them online. The application is considered longer compared to the Russians, the probability of approval is low. If cash is urgently needed, a foreigner can apply to a microcredit organization to receive quick loan.
Mortgages and other secured loans real estate it is easier for foreigners to get. The return is secured by a liquid asset, so the risks of the bank are minimal.
In general, the conditions for granting a mortgage do not differ from the requirements for Russian borrowers, with the exception of a more thorough check of the client.
Loans for buying a car in Russia are also available to foreign citizens. You need to contact a car dealership that cooperates with a bank that lends to foreigners.
Purchased the car is pledged and insured under CASCO which increases the chances of your loan application being approved.
Every year the number of immigrants from the former Soviet republics to Russia is growing. This is due to the war in Ukraine, the difficult economic situation, lack of work and political persecution. A large number of migrants quickly finds work. However, in order to purchase a home or develop a business, you need large financial investments. How to get a loan if there is no citizenship?
People who do not have Russian citizenship receive a consumer loan very difficult. Because the this species the loan is designed for a small amount of money, the bank is not willing to take risks giving loans to foreigners.
You can find a way out. If a non-resident has relatives or friends who are ready to take out a consumer loan. However, in case of non-payment of a loan by a foreigner, the monetary burden fall on his benefactors.
There are situations when a foreigner may need cash urgently. In such a case, the following will help solve the problem:
Microfinance companies provide a small amount of money (up to 100 thousand rubles), for a short period of time. Most often, to obtain a cash loan from a foreigner, only a passport will be required. When concluding a deal with microfinance companies, you need to carefully read the terms of the contract. Sometimes the rate of such a loan reaches more than 50% per annum.
Pawnshops can provide a foreigner with a sum of money secured by household appliances, real estate or a personal car. The procedure for granting money is simple and straightforward. In case of non-payment of money in due time under the contract, the property of the foreigner is transferred to the disposal of the pawnshop.
Private loan sharks provide money in the same way as microfinance companies. An agreement will be concluded with the borrower, which specifies the terms for repaying the money and interest for the delay. Sometimes the contract is replaced by an IOU. In case of non-payment of money, the creditor can sue and forcibly return his money.
If everything is difficult with a consumer loan, then it is possible for a foreigner to get a mortgage loan. When issuing such a loan, the following is taken into account:
If a foreigner has been officially working in Russia for a long time, has a stable income and wants to obtain citizenship, the loan will most likely be approved. The only clarification is that the bank may impose an encumbrance on the purchased housing. At the same time, the interest on a mortgage loan will be almost the same as for citizens of the Russian Federation.
The easiest way to get a mortgage loan for foreigners is at VTB 24, Alfa-Bank, Probusinessbank.
This type of loan can be obtained by a foreigner in Russia. True, there is a small condition - providing the bank with a pledge of another car, real estate or working equipment. Compliance with this condition is important for the bank and helps to avoid risks in the event of a car breakdown or non-repayment of money by a foreign borrower. In some cases, the deposit can be replaced by increased car insurance. The interest rate for foreigners is the same as for citizens of the Russian Federation.
More often than other banks, they approve car loan applications for foreigners Raiffeisenbank, Citibank and Rosbank.
To get a loan from a bank, a foreigner needs to collect a package of documents. Most often, when concluding a loan agreement, they require:
It is best to take a loan from the bank where the foreigner has a salary account. Also, the presence of a co-borrower, a citizen of Russia, can play a positive role in obtaining a loan. They will help you get a loan and income certificates from the non-resident's home country. References must be translated into Russian.
Sometimes there is an urgent need for additional funds: the purchase of housing, expensive treatment, the desire to educate the child in a reputable university. All this forces people to look for sources of financing. When expanding a business, most companies also need to raise borrowed funds. Considering the huge interest rates in Russian banks, many borrowers are interested in finding more profitable loan abroad.
The popularity of foreign lending is due to a number of undeniable advantages:
More attractive lending conditions are possible due to the wide access of foreign banks to "long" credit funds, because investors invest for long periods - at least 1 year.
It might seem that a bank should set the same lending conditions in all branches located outside its country of origin. In fact, subsidiaries operating in the territory of the Russian Federation are required to be guided by the requirements Russian market. In this regard, the conditions for issuing loans are not more profitable than the offers of Russian banks.
Therefore, in order to save money, you need to take a loan outside the Russian Federation. However, it should be taken into account that banking structures lend to non-residents only if the funds will be used on the territory of their state.
In theory, anyone has the right to apply to foreign bank. Banking organizations also make a profit thanks to the lending service. The main role of credit in the economy is that those who need additional funds can meet their needs at the expense of investors.
In fact, it is likely that the bank will not want to deal with foreign borrowers, even if the institution has a corresponding loan offer.
Large banks prefer to limit the number of clients to citizens of the country or at least residents - legal entities or individuals permanently registered / residing in its territory.
This is not surprising, because lending to foreigners is associated with increased risks for the bank. One of the reasons is that the consideration of a credit dispute takes place according to the laws of the country of citizenship of the borrower.
Another reason for refusal is the difficulty of assessing solvency individual residing in another state. The bank is unable to verify the authenticity of statements of income and property.
The resident adheres to the laws of this state, regularly pays taxes and has a legal source of financing (salary or other income).
Thus, the chances of obtaining a loan abroad are the highest. Russian citizen, which the:
If the applicant owns real estate, rents it out and pays taxes to the state budget, in some countries he is considered as an entrepreneur (Italy, Finland and others).
Each country has its own terms of cooperation with foreign clients, which are not always interesting for applicants. For example, one of the mandatory requirements of Spanish banks is a certificate of no loans at home.
Japanese financial institutions lend to Russians only if the guarantor is a citizen of this country. Its task is to confirm the solvency of the client, and not to repay the loan in case of non-payment. The debt unpaid by the borrower after his death passes to the heirs.
Some require the client to transfer some amount to a deposit account. So they insure themselves for a certain reserve of funds if the borrower does not repay the debt on time.
Interest rates on loans around the world also differ. So, the minimum interest is returned by clients of British banks (from 2%), the most high rate operates in Bulgarian banks (11%).
The maximum amount of loans also varies - Bulgarian financial institutions are ready to apply for a loan from 5,000 euros, in Switzerland you can request up to 400,000 euros.
Depending on the size of the loan and the debt repayment scheme, the terms can be 5–40 years. Lending for more short term disadvantageous for the borrower, and is limited by the laws of many countries. This is due to large monthly payments, the amount of which cannot exceed 30% of the client's income. In Poland, this figure is 50% of income.
If your goal is to take out a loan for the purchase of real estate, it is advisable to arrange a mortgage in the state where the transaction is planned.
| Country | Maximum loan amount | Annual rate (%) | Term | Additional features |
|---|---|---|---|---|
| Up to 60% of the value of the object | 1,5 – 3,5 | 5–30 years | The term of the loan depends on the age of the borrower and his marital status. Non-residents receive a mortgage in the amount of up to 50% of the value of the object. |
|
| France | Up to 80% | from 3.15 (fixed) from 2.4 (floating) | 5–30 years | Annual fees: property tax ( the average size- about 0.5% of the cost of the premises - depends on the type of object, city and infrastructure; accommodation tax even for tenants (1000-4000). |
| Up to 70% | 3,6–5,15 | 5–30 years | Only Residential Properties from € 300,000. Minimum loan amount € 50,000. The client is obliged to insure housing and pay for notary services. |
|
| Up to 70% | 3,5–5 | 5–40 years old | Initial payment from 30%. | |
| Great Britain | Up to 70% | 2,5–4 | 5–20 years | Minimum amount £350,000 |
Although in general lending is a potential danger for a bank, mortgage easier to take than any other. The purchased object is a guarantee of the client's solvency. The main condition is that the property must be located in the country of the creditor.
If the borrower plans to issue a loan secured by real estate located in the Russian Federation, the risk of refusal is high. The fact is that Russian law applies to such a mortgage agreement - it must be registered in the USRN (Unified state register real estate), and legal disputes are considered by the court of the Russian Federation, which is disadvantageous for foreign creditors. In addition, Western financiers question the liquidity of Russian real estate. Another thing is if the applicant takes a loan secured by a foreign object.
It is difficult for a non-resident to obtain a consumer loan from a European or American bank. Organizations are more willing to cooperate with holders of a legal residence permit. The conditions for processing a transaction for citizens of the country and residents are practically the same.
Main purpose consumer loans- buying a car, large-scale home renovation, education. In the latter case, a loan can be taken not only to pay for the university, but also for courses, internships, master's programs (funds are credited to the account educational institution). Many banks issue a matched loan to cover living expenses.
| Country | Maximum amount | Annual rate (%) | Term | Additional features |
|---|---|---|---|---|
| Germany | € 100 000 | 1,69–6,9 | 1–6 years | Banks calculate the interest and term based on the individual capabilities of the client (monthly income minus mandatory payments). |
| USA | 2–3,5 | 1–5 years | To get a car loan, the borrower must have a good credit history. One of the main conditions for a foreign student is the presence of a guarantor from among US citizens or residents living in the States for at least 2 years. |
|
| France | No more than ¼ of the applicant's annual income | From 5 | 3 months - 3 years | When issuing a loan, you need a guarantor. One of the requirements is the "domiciliation" of income (the borrower's income is transferred to a bank account so that the bank can control the payment process). |
| Great Britain | £500–10,000 | 6,5 | Up to 5 years | The bank automatically insures the client in case circumstances prevent him from repaying the loan (this increases the amount of the monthly payment). When applying, you can cancel the insurance by notifying in writing. |
Experts recommend paying attention to the peculiarities of consumer loans issued to citizens who are in the country on the basis of a visa - the period of lending is affected by the validity of the visa permit. Therefore, it is advisable to obtain a long-term visa in advance.
When expanding a business outside its own state, an entrepreneur will sooner or later wonder if it is possible to take a loan in another country. Banks around the world generally have a positive attitude towards foreign businessmen. If they pay taxes, create new jobs and participate in the development of the local economy, getting a loan is not so difficult.
In a number of states, for example, in Germany, there is a program of state banking support for start-up entrepreneurs. By presenting an effective business plan, you can count on the minimum rate (up to 3%) with a delay in repayment of the loan body and interest for up to 2 years.
| Country | Loan amount | Annual rate, % | Term | Additional features |
|---|---|---|---|---|
| Germany | Up to 500,000 | 2,63– 3 | 5–15 years | If the loan is issued without a capital contribution, the client will receive up to € 100,000. To receive a larger amount, you will have to contribute your capital in the amount of at least 10% of the loan amount. Loan repayment starts after 7 years. |
| Spain | Up to €150 million | 3,5 – 7 | Up to 5 years | European law requires that loans be granted only to companies that earn income in Europe or are registered in the EU. |
| Sweden | Up to 600,000 CZK | Calculated individually | Up to 15 years | To provide banking services foreigners need special permission from the director of the department. |
| Israel | Up to 750,000 shekels | 3–9 | Up to 5 years | If the guarantor of the loan repayment is the state small business support fund (Keren bearvut amedina), you can get a loan without collateral. |
Banks are aware that the creation of a new company can be associated with certain risks, so usually a commercial loan is issued at higher interest rates than a loan for personal purposes.
In most domestic banks, it is enough to present a few basic documents. You can get a loan abroad only if you have a solid package of documents, and even then if the applicant meets a large list of requirements. Here is some of them:
Important to know: about financial transactions outside the country of residence should report to tax service. In addition, when opening an account abroad, it is necessary to send a notification to the tax authority within a month. Violation of this order is fraught with a substantial fine:
Citizens of Ukraine and Belarus must obtain a license to open an account with a foreign financial institution.
The fine for her absence in Ukraine can reach 500 minimum wages and even end long term correctional labor (up to 2 years). Illegal activities will be stopped, and the contribution and proceeds will be confiscated in favor of the state. Thus, this issue should be settled while still at home.
Assess the availability of credit in different countries It is possible on the example of the most demanded type - mortgages. To do this, we conditionally divide all countries into four groups:
In a number of countries, authorities have introduced procedural and territorial restrictions on foreign borrowers. For example, in France there are very few banks willing to lend to non-residents.
Before contacting a bank, you should decide on the type of loan, because there are a lot of them in any lending market. First you need to understand the difference between different types of loans. They are usually classified according to several parameters:
To understand which loan is preferable, many people use the advice of credit consultants or special services on the websites of financial institutions.
The next step is choosing a bank. Here's what to look out for when choosing financial institution:
When applying for a mortgage or a large loan to open a business, you should seek help from a company that conducts real estate transactions in the desired country.
As a rule, such firms are familiar with the real estate market and local laws, so they will help you choose the right object and collect required documents. Without knowledge of the language, the applicant will easily get lost in the sea of commercial offers and legal requirements.
Clients complain about red tape in domestic banks, but getting a loan abroad is no easier. The minimum package of documents includes:
Some banks, such as German ones, require you to provide a certificate of family composition.
It is often helpful to confirm that the applicant is a client of a reputable banking organization at home.
All documents are in the language of the country in which the bank is located and certified by a notary.
There are many subtleties associated with the appeal to foreign bank.
Many applicants entrust the choice of the optimal loan offer intermediary organizations or benefit from the experience of their compatriots by asking questions in forums dedicated to the conditions of life in a given country.
There are three ways to use the foreign loan service:
Citizens of Russia, Ukraine and other CIS countries can receive money in a foreign bank via the Internet only through special representative offices.
Some banks, for example, DenizBank (Turkey), make a preliminary decision based on a scanned package of documents sent electronically.
If the loan funds are spent at home, the borrower will have to pay a substantial commission for transferring money to his account. This operation will be of interest to tax authorities countries, because the receipt of funds into the account is income.
It is quite possible to “bring” the received credit funds under this definition. Thus, taking into account the interest rate, associated costs and total cost loan, the transaction may not be of particular interest.
Given the high cost of education, many universities cooperate with partner banks that are ready to provide students with a loan for study. To obtain a student loan, you can apply for a guarantee in the international department educational institution. The package of documents for the bank, in addition to the passport and basic certificates (on the absence of debts and financial solvency), also includes an agreement with the university.
The main office of Sberbank Europe (Sberbank Europe AG) is located in Vienna (Austria) and is a subsidiary of Sberbank of Russia. The bank operates in 10 European countries:
Since 2012, Sberbank has owned a 99.85% stake in Turkish DenizBank (599 branches and 5.4 million customers).
Sberbank loans abroad differ from Russian counterparts by lower interest rates, however, they are not as attractive as loan products in purely European organizations. But for Russian clients of Sberbank in the Russian Federation, it is much easier to collect a package of documents.
Theoretically, our compatriots have no legal restrictions on applying to a foreign bank for a loan. But many face practical difficulties, starting with strict requirements for the applicant and an extensive package of documents, and ending with the unspoken reluctance of foreign financiers to work with non-resident borrowers from the CIS countries.
AT last years Russians are often interested in lending abroad. It is believed that housing loans and loans for education are more profitable in foreign than in Russian institutions. But the reverse trend is also true: more and more foreigners living in the Russian Federation want to get a loan here.
The law in Russia does not prevent the issuance of loans to foreigners. In the relevant section of the Civil Code of the Russian Federation (Part 2, Chapter 42, § 1 and 2) there is no mention of non-residents as a special category of clients. On the contrary, any natural person, including other nationality, can become a borrower in a Russian financial institution.
All foreigners who can apply to a bank for a loan can be divided into several groups:
Formally, representatives of each of the groups can receive a loan. However, in practice, banks cooperate with foreigners with varying degrees of reluctance. Most institutions will refuse to issue a loan. The reason for this bias is the insecurity of banks. In the Russian Federation today, judicial practice for collecting debts from non-Russian citizens is not developed.
In order not to lose profits, large organizations occasionally make deals with foreigners. Consider what requirements they put forward to potential borrowers and how they minimize risks.
Paradoxically, but the most available credit foreign citizen with a residence permit - . The reason for this is the high guarantees: credit organisation receives real estate as collateral, which he can dispose of in case of non-payment. On the same basis, they are also available - along with mortgages and other secured loans, they can be taken from any bank in the country.
The situation is different with the classical one. It is impossible to issue it in a shopping center or an online store: in the conditions of express lending, banks will not be able to carefully check the candidacy of a foreigner. However, you should try your luck in the very. This guarantees an individual approach to your case.
Below is a list of banks that provide loans to foreigners:
institution | Program | "Consumer" | Up to 1 million rubles | Income verification Without collateral without guarantee |
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"Secured by real estate" | Up to 99 million rubles | Income verification Security deposit required without guarantee |
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"Without help" | Up to 200 thousand rubles. | No income statement Without collateral without guarantee |
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"For refinancing (on bail)" | From 500 thousand rubles. | Income verification Security deposit required without guarantee |
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"Consumer" | Up to 20 million rubles | Income verification Security deposit required Need a guarantor |
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"Pledge" | Up to 10 million rubles | Income verification Security deposit required without guarantee |
Most consumer loans require collateral or a guarantor. Sometimes banks request both collateral options (Kuban Credit). Programs for which a loan is issued without income statements are rather an exception. It is to be expected that in return the organization will be more exacting and will expect permanent registration on the territory of the Russian Federation.
Finally, we mention such an opportunity as a microloan. Unlike banks, MFIs (microfinance institutions) work with small amounts and insure themselves at a rate that is much higher than the interest on consumer loans. As a result, even a foreigner without a high income can count on a small loan: a transaction is processed via the Internet in a matter of seconds, and only a passport is required from the documents.
The presented review makes it clear: you can take a loan for a foreign citizen in several big banks. In order to reduce risks, organizations responsibly approach the selection of potential borrowers. What positively affects the candidate's reputation?
The last points require clarification. A resident is a person who has been in Russia continuously for 183 days in the past year. Also, the definition of a resident includes foreigners who have lived in Russia for less than 183 days, but who have housing, work, business or family. The status of a resident is preferable, since it indicates the “settlement” of a person, the prospect of obtaining Russian citizenship.
But even with such a set of advantages, the borrower may be denied a loan or be provided with unfavorable conditions (for example, an overpriced rate or a modest limit of funds). The chances of obtaining a loan for a foreigner in Russia will be helped by several circumstances.
In general, the conditions for lending to a foreign citizen are similar to the requirements for an ordinary Russian. It is important for the bank to prove its financial viability and provide maximum guarantees.
The specific set of certificates that the bank will require depends on two circumstances: the status of a foreigner in Russia and the characteristics of the loan being issued. However, there is a minimum that borrowers always submit to the branch:
The rest is to focus on the product. So, any secured loan will require collateral in the form of real estate or a car - and the ownership of them is documented. Another case - passive income from rent or deposit. For the bank, you need to prepare the relevant papers: a copy of a civil law contract or an account statement.
16:35 17.09.2019
