воскресенье, 9 ноября 2014 г.

What are credits?


If you still do not get lost in the variety of loan products offered today by Russian banks, you can safely skip this material. But if you are too lazy to seek out their own textbooks and on the internet explanations of technical terms and descriptions of strange processes associated with lending to the population, we will try to do it for you.

By purpose loans provided to individuals confidently into the following categories:

Loans for the purchase of real estate - this includes loans for the purchase and construction of apartments, houses, cottages, garages. Some banks provide loans for the purchase of land and rooms.

Loans for the purchase of a car - everything is clear. Some banks provide loans for the purchase of both new and used vehicles. The conditions in these two cases are different.

Consumer loans - in this category include all loans other than those listed. However, many Russian banks detail this concept, where there are:

Education loans - usually a loan with a validity equal to the period of study. Usually it is available to students in higher education institutions, in some cases - special secondary.

Loans for the purchase of household appliances - a very common type of loans is fast processing and the minimum required documents.

Loans for the purchase of boats - as though it may sound exotic, but there are also credit products. They claimed, as a rule, in the cities, landlocked or located near a large body of water.

Loans for urgent needs - such wording is used when the client can choose the purpose of the loan (except those for which there are special products).

By the form of secured loans are divided into:

Collateralized - in this case, the bank takes collateral from the borrower or other person called Pledger, some property - real estate, cars, securities, precious metals and others. This procedure is executed by special agreement, which records the parameters of the property, including the cost, its location, the period of pledging and other significant terms. In the case of non-payment of the loan collateral must provide the bank to pay damages - through sale, lease, etc.

Secured by a guarantee - are loans for which, in addition to the borrower become responsible and other persons or entities, called guarantors. While the borrower to repay the loan in a timely manner, the guarantors can sleep peacefully. But as soon as the bank has any doubt about the fact that the loan will be repaid on time, it starts in a particular manner to glance in the direction of the guarantors.

Typically, when significant amounts of credits used both types of software. All banks are willing to accept as collateral for bail, bail is demanding on the reputation of the guarantor - mainly refers to financial reputation.

By the method of repayment can distinguish the following types of loans:

Loans with bullet repayment of the full - it is usually done at the end of loan period. Repay principal and interest thereon.

Loans with maturity differentiated payments - in this case the loan payment includes a fixed portion, obtained by dividing the amount of the debt on the loan term in months (if paying monthly) and a variable part, which decreases as the principal repayment.

Loans with maturity equal payments - in this case, the payment amount remains unchanged throughout the term of repayment and includes calculated by tricky formula, which we shall not give here, the amount of repayment of principal and interest.

By type of interest calculation differ:

Loans with fixed interest rate - this means that the rate does not change during the entire loan period.
Loans with floating interest rates - in this case, the rate depends on the global macroeconomic indicators (how exactly, is prescribed in the loan agreement), and can change in the course of repayment.

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