For given time banks offer a wide choice of no-purpose credit programs (the credit for urgent needs), having different conditions of reception of the loan. Therefore before signing the credit agreement, specialists advise to familiarize with offers of several banks.
Each bank has the rules of registration of credit contracts; however their big part makes standard demands to borrowers of credits. Without fail the borrower should give a packet of documents which consists of id data; inquiries on incomes and other. Depending on an amount of income the maximum size of a body of the credit also is determined.
Banks also show age restrictions, the borrower should be more senior than 18 years, and some banks give out credits only to citizens by whom it was performed 21 year or 25 years and which aren’t more senior 55 years (in some 70 years).
Some banks make the demand that the child of the borrower was aged not less than 6 months. Besides availability in a family of one child is regarded by bank structures as the factor testifying to a constancy and stability of the client, and here they consider parents having many children as people who have heavy consumptions.
While giving out the credit for urgent needs banks pay attention to the work period on last place, it is necessary, that it constituted not less than 3 months (sometimes 6). Some bank structures make the demand to availability of a general service life of not less than 3 years.
Credits for urgent needs means that money allows to borrow from bank and to spend them for any purposes, without reporting about it. It is easier to take a consumer loan without inquiries and guarantors. However if you have guarantors naturally credit conditions will much more softly, and the credit amount can reach to 35 thousand dollars.
Credit programs which provide property pledge are considered as the most loyal. At a great sum loan, except for property pledge, the bank structure can demand realization of insurance of risk of damage and pledge loss. Certainly, all without an exception expenses on insurance is taken by the borrower. Often enough bank structures demand availability of the agreement of life insurance and-or loss of working capacity of the borrower
It is necessary to notice that the real borrowing cost for urgent needs can appear considerably above the interest rate which to you has reported in bank in connection with availability of variety obligatory commissions which often appear hidden from the borrower. Disposable payment concerns such “unforeseen” expenditure for the credit issue which size is usual constitutes from 1 % to 3 % from the sum or an order 100-200$, and the monthly or annual commission for conducting the credit account.
The sum of given out means always is limited to the income of the borrower or assessment value of object of pledge. Besides, the majority of banks consider the cumulative income of a family of the borrower. The monthly payment sum under the credit shouldn’t exceed 40-50 % from incomes of the client or his family.
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