Lending to the population is a widespread phenomenon in the economy of any country. This is an opportunity to purchase any property, product or service that is required in the shortest possible time or is inaccessible due to the high cost.
One of the most important elements of the Russian economy, as well as the main source of income for banks, is lending to individuals. Loans issued by the bank for personal needs of citizens form a quarter of the structure of the loan portfolio of a financial institution.
At the moment, there is a situation where obtaining a loan is becoming the only possible option for the population. This applies primarily to expensive property or payment for services, the cost of which the consumer is unable to earn and pay one-time or within a short period of time. These include the purchase of movable and immovable property, renovations, business investment, education, or medical treatment.
According to the purposes of lending, there are
Personal loan or consumer loan
The most popular type of lending to the population by banks. Most often, this type of loan is characterized by small amounts and high interest rates, it is designed to meet the current needs of citizens. This loan is worth taking if there are more indisputable advantages than disadvantages, the main of which is the rise in the price of the final purchase price. Namely: a significant increase in prices for this category of goods in the near future, withdrawal from production, an urgent need for a product at the moment.
Car loan
Until recently, banks provided this type of lending only for new cars from car dealerships, but now there are options for purchasing a vehicle in the secondary market, with state participation, preferential or partial, where the amount varies from half to the full cost of the vehicle, can be issued by hand or by bank transfer transferred to the seller. In general, the offers are very attractive for their rates. But there are many conditions put forward by banks to such a borrower. Mandatory conditions will be the presence of accreditation of a car dealership, if we are talking about a new foreign car, the acquisition of a CASCO policy, life and property insurance. In addition, the purchased car remains pledged by the bank until the loan is fully repaid.
Mortgage credit lending
The purchase of housing has become one of the most acute social problems of the population. It is not possible for most Russians to buy housing or a plot for residential development using only wages. Mortgage lending is a long-term loan secured by purchased or existing real estate: land, apartment, buildings, residential and industrial premises. It is used to purchase real estate in the primary market or the secondary market; there are also various support and co-financing programs, both from the state and from the bank's partner developers, who are ready to lend to the purchase.
Inappropriate consumer loan
In this case, the bank issues to the borrower a personalized means for conducting non-cash payments, namely a plastic card, for the purchase of goods and services.
According to the method of repayment, loans are
- Long-term or in installments
- One-time or one-time
By availability of collateral
- Unsecured
- Loan with collateral or collateral
It is important to remember that the bank issues a loan to an individual for the purchase of goods, services, real estate necessary for him or his loved ones. The exception to this will be the use of the funds received for profit.
