How to take a consumer loan with a minimum interest rate?
Interest on the loan agreement is an important factor when choosing a loan. This value determines how large the overpayment will be for the use of bank funds. The most favorable conditions are offered to regular borrowers with a good credit history. But also the interest rate depends on a number of other factors. In this article we consider the lowest interest on the loan, in which banks it is better to draw up an agreement.
What determines the interest rate
Every year the minimum annual lending rate changes. Recently, a consumer loan under the minimum percentage becomes easier to arrange. This is due to the fact that the Govt. Bank continues to lower the refinancing rate. At the time of this writing, the bank lowered the rate to 8.25%.
Commercial banking organizations are credited with the Govt. Bank at 8.25% and, taking into account the costs and profit, form their proposals.
Also, the low rate on consumer loans banking organizations exhibit in the presence of insurance contracts. After all, when you connect the insurance risk that the money will not be refunded below. Banks, receiving additional guarantees, are ready to reduce loan rates.
Additional benefits are loyal customers. Banking institutions issue consumer loans on more favorable terms to borrowers who are in this bank:
- it is credited for a long time and repays current payments on time;
- owns a salary card;
- has deposits or deposits;
- uses other services of the bank.
Therefore, the answer to the question: “Which bank has the lowest interest?” May not be unambiguous, since it depends on a number of the listed factors. The best option is the one in which you constantly credit. But we will look at current offers and see which bank has the lowest interest rates.
The loan at the lowest interest rate can be issued in the West Bank. The offer of this company starts from 9.9% per annum. The maximum rate reaches 26%. The loan can be issued from 300 000 to 30 million rubles. The minimum loan term is a year. The maximum duration of the contract may be 20 years.
To obtain loans at a low interest rate, this bank will need to secure a deal. As a deposit will be suitable:
- plot of land;
- a private house;
- commercial real estate.
The bank is ready to issue a loan with a minimum percentage per annum, including on behalf of individuals. As a client or guarantor, a citizen of Russia at the age of 21 -76 years can act with a residence permit in an area where there is an West Bank office. The experience at the current place of work may be 3 months. And for those who are younger than 26 years, the experience must be at lWest one year. West may not require a certificate of income.
To approve a cash loan with a minimum percentage, you need to prepare the following documentation package:
- application can be issued on the site;
- certificate of income in the format 2-NDFL or on the form of the bank;
- copy of labor;
- document on the property;
- property rights;
- Marriage certificate.
After completing the provisional application and receiving a positive response, you can request a sufficient list to fulfill individual conditions.
Credits at a low rate offered by the South Bank. 10% per annum can be obtained when signing a contract in the amount of 200,000 to 750,000 rubles. At the same time the terms of the transaction are limited – up to one year. But at 17% per annum, the bank is ready to provide an amount from 10,000 to 200,000 rubles, with a term of up to 7 years.
Low rates on loans are possible when signing an insurance contract. Without fulfilling this condition, you can add 6% per annum to the base tariff. In this case, the banking company will not require collateral or guarantee.
Rosselkhozbank is ready to cooperate with employees of public institutions or customers who have everything in order with their credit history. The age of the borrower varies from 23 to 65 years. Minimum length of service starts from 4 months. Also a sufficient condition would be citizenship and registration in any region.
- certificate that shows income;
- a copy of the labor obligation with the employer;
- copy of employment record;
- if the client is not 27 years old, then it is necessary to present a military ID or registration certificate with a delay from the army for the duration of the loan agreement.
Often loans at a low interest rate can be obtained by providing real estate in return. North Bank is no exception. The lowest interest rates of 11.7% are given up to one year and in the amount of 500,000 to 30 million rubles. For a period from a year to 15 years, you can take the same loan, but at 12.7%. As a deposit you can provide:
- the property;
- private car;
- commercial vehicles.
Also, a small percentage of the contract is available when providing a guarantor in the form of an individual. An additional financial burden is the property and personal insurance, as an indispensable condition for taking a loan at the minimum interest.
Employed persons with experience of 6 months and registered in the area of the representative office of the bank are accepted as the borrower. The age of the client is 20-65 years.
The lowest interest rates on loans are available upon presentation of the following documentation package:
- 2-NDFL or documents that will be able to confirm solvency (in the form of a bank, bank statement with official seals).
In our rating, this bank with low interest rates on consumer loans is submitted with a refinancing proposal. Refinancing is on-lending your debts to another banking company. Thus, it is possible to pay off the debt by issuing an agreement in Svyaz-Bank at 11.9%. The loan amount varies from 30,000 to 3 million. The contract duration is from 6 months to 7 years.
An additional condition is the registration of insurance, without this you can add 3% per annum to the normalized rate. There is no need to provide collateral and guarantors. The client must have experience of 4 months and be between the ages of 21 to 65 years. Registration at the location of the bank.
A low interest on a consumer loan is possible with a full set of documentation, which includes:
- the second document (driver’s license, military ID, passport abroad).
- employment history;
- documents on the current loan, which must be refinanced.
Another bank with the lowest interest on the loan – Ready Credit. Rates range from 11.9 to 25.5%. The minimum amount is 30,000 rubles, the maximum that a banking organization is ready to provide is 700,000 rubles. The duration of the contract begins with 2 years and ends with 5 years. There is no need to sign additional insurance, provide a deal with a pledge or invite guarantors.
The client must be between the ages of 24 and 70. Also have a residence permit in the region where the loan is issued. There are restrictions on solvency – residents of Moscow must earn not less than 12,000 rubles. In the regions, income should start at 8,000 rubles. The lowest interest rate on a consumer loan can be obtained by providing income certificates, although proof of solvency is not required.
- statement issued on the site;
- other identity document.
Low interest rates are available if you send an income statement and a copy of the employment record.