Where is better to take a loan

From the place of application for a loan depends largely on the conditions of its use. Loans are issued in banks, microfinance organizations, in specialized credit unions and cooperatives, in a pawnshop, directly at a store, at a car dealership and other trade and services organization, either by mail or on the Internet.

Where better to get a loan? What is the most profitable source of credit resources? Even banks are very different terms of the loan, what to say about the other organizations. We briefly give a description of each organization, we will give some useful tips, and you should make the decision on choosing a profitable offer yourself.

Microloans on microclass

Microloans are issued instantly. By contacting a microfinance organization, having only a passport, you can get out in a quarter of an hour with the required amount of cash. To get a loan, fill out a questionnaire, make a copy of your passport, go through a personal interview and check your contact phone number.

After, a loan agreement is signed, a one-time commission for the provision of a loan is paid (the amount is 5-20% of the loan amount). There are several "buts" in this variant: the size of the loan is scanty (several tens of thousands of rubles), it is necessary to return it in 1-6 months, high interest - 50-1000% per annum.

Specialized cooperatives of citizens

Quickly issue money in credit unions and cooperatives. Here a guarantor is required - an individual who is ready to guarantee the return of the requested obligations. From the documents you need a passport and another document proving the identity of the potential borrower. The loan period is small, does not exceed a year, the amount is rarely more than 100-200 thousand rubles.

Some credit cooperatives accept cars or real estate as collateral, which slows down the procedure for issuing a loan, but increases the amount available and the repayment period. There is an individual repayment schedule, which is developed in accordance with your wishes.

You can make payments twice a month, monthly, once a quarter or immediately at the end of the loan term. The amount of interest is about 15-100% per annum.Do not forget about the additional fees for issuing a loan and membership in a cooperative.

Passed the thing - get the money

In a pawnshop, the loan amount depends on the value of the mortgaged property. Pawn shops take gold and precious jewelry, antiques, cars, home appliances and electronics. The pledge, together with the title documents, is located in the pawnshop territory until the total amount is returned. To redeem the property you need to pay a debt at a time, taking into account the accrued interest for the borrowing period. Interest is calculated daily and reach 35-700% per annum.

The repayment period is unlimited, although in some pawnshops in a few months the property is put up for sale.Disadvantages: the opportunity to lose property, high interest, a small loan amount due to low collateral value.

You can not pay at the checkout - make out a loan

Shops and shopping centers provide an opportunity to enter into a loan agreement to pay for a purchase right on the trading floor. Partner banks, whose representatives work on the territory of stores, are selected according to the principle that the sooner the better.As you know, for the speed when making a loan you have to pay a higher rate. The loan is issued for 3-24 months.

With a high interest rate, in the range of 40-100% per annum, the bank compensates for its own risks, issuing borrowed funds without proper verification and on the minimum set of documents. But monthly payments are scanty and the payment for the goods, for example, a toaster, is postponed for a while, and you can use it right away.

The client does not receive money on hand - they enter the account of the store, and the borrower remains with the loan agreement and the selected goods.

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