Express loan: fast and profitable Automatic translate
If you interpret this term literally, it means some kind of instant action. Often there is a situation in which money is needed, as they say, here and now. Express loans will help the citizen in this.
Such a loan will be issued to the client in order to pay for a certain service or to purchase goods in a store. Credit can be obtained on the card, to the Yandex payment system - instantly and immediately pay for goods in the online store. Such loans can help people in many situations, whether it is a planned voyage or carrying out various repairs. Such loans are available not only to citizens, but also to various organizations. For an entrepreneur, this is a real blessing, since along with an express loan, a new batch of goods becomes available to him.
Express loans are based on small loan amounts. But it should be said that the interest on them are quite significant indicators. This is understandable. After all, no one will argue with the fact that urgency must be paid. In addition, MFIs are associated with high risks in that they simply will not be repaid. High interest is some compensation for the existence of significant risks.
The size of such loans usually does not exceed several tens of thousands of rubles. Moreover, the loan term itself is insignificant in size. Most of these operations are carried out by bank transfer. Money after approval of the application will go to the account of the company.
Quick loans are convenient for the population. Today, in almost any large supermarket there are credit representatives of a bank. You can get a loan directly to the store for a product you like or to pay for a certain service. A bank specialist will simultaneously send an application to several organizations. So the chances of approval will be greater. A loan agreement with a payment schedule will be executed right in the store. After signing it, the citizen will be able to take the thing he likes home.
All procedures will be quick, the client will not even have time to notice how time will run quickly. This express lending is different from banks. When applying to the bank, the loan processing procedure is lengthy and can take up to three days.
Sometimes such loans are issued with a down payment. Its size depends on the particular organization and may be 10-50% of the value of the goods. Some banks will give out a loan without any down payment. It all depends on the specific situation and the type of product purchased.
As a rule, the lender requires two documents. The passport of a citizen of the Russian Federation is mandatory. The second document is selected at the discretion of the bank. May require a military ID or driver’s license.
A separate item is the terms of the loan. It is believed that such loans are most beneficial to issue for a period of 6 to 12 months. In this case, the maximum overpayment will be one third. If the period is longer, sometimes you have to overpay up to 80% of the cost of goods purchased on credit.
If the client needs money not so urgently, then it makes sense to wait a bit in order to collect the necessary package of documents. This is necessary for obtaining a regular consumer loan. Undoubtedly, it will cost less to the client. However, everyone is free to decide for himself what to choose.
Express loan is one of the forms of consumer credit. It is provided for payment of goods purchased by the borrower in partner stores of a credit institution. With its help, electronics, furniture, household appliances are most often bought. You can also pay for services, for example, the installation of plastic windows or a tourist trip. The size of the loan, as a rule, is small and usually amounts to no more than 100,000 rubles.
Different lenders may have different conditions. Some banks issue express loans for the entire value of the goods. Others - work only with a down payment, which is from 10 to 50%. If you have a good credit history and compliance with all requirements, you can safely count on a positive decision. Express loan fully lives up to its name. Its design is very fast.
As a rule, the response of the bank comes within an hour.
Money is immediately transferred to the company from which the product or service is purchased. Express loans are issued only in ruble terms.
For registration, you need to contact the loan officer, who is usually located behind the counter with a sign of a particular bank. A specialist will help you choose a program and apply.
This will require a minimum set of documents: passport and pension certificate. You can provide a driver’s license or military ID.
The presence of a passport is welcome, which indicates a certain status of the owner. Checking the solvency of a potential client is carried out according to an accelerated scheme.
In case of approval, a loan agreement is concluded, which sets out the rights and obligations of both parties. The document also indicates the interest rate, loan amount, penalties for untimely fulfillment of obligations to pay the loan.
As a mandatory application, a loan repayment schedule is issued.
However, despite the simplicity of registration, express loans, especially without down payment, are the most expensive loan products due to the high interest rate. This is due to the increased risk that the bank assumes, issuing loans according to a simplified scheme. You can also count only on a small amount provided for a short period.
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