Retired borrowers know that it is much more difficult for pensioners to get a loan from a bank than for younger people. And this is not surprising, since any financial institution forms a portfolio with a low level of risk. That is why most banks prefer to cooperate with citizens who have not only a stable, but also a high level of income.
Cooperation with middle-aged borrowers reduces the risk of loan defaults. In addition, the working-age population is ready to take out loans for a long term at fairly high interest rates.
Pensioners have a modest income, it is difficult for them to get a long-term loan or a loan for a large amount. But not everything is so bad, because today many banks are reconsidering their views. As a result, new loan products are emerging, designed specifically for older people. Programs have their own nuances, so before applying for a loan, a pensioner should study their features.
How the application is considered
It is best to submit documents to several organizations at once. This should be done not only to increase the likelihood of loan approval. There is another advantage, for example, when a loan is approved in several banks, a pensioner will be able to choose the most favorable terms from those offered.
When considering an application, a financial institution takes into account the following factors:
1. The age of the citizen who applied for a loan. The risks of the bank grow with the age of the borrower, because elderly people often end up in the hospital. This leads to late payments. In addition, the mortality rate among the elderly is higher, and banks are taking this into account.
2. The presence of property increases the likelihood of loan approval. It is good if the pensioner has real estate or transport, then they can act as collateral. In this case, the protection of the interests of the creditor is guaranteed.
3. The size of the pension benefit. A working pensioner is much more likely to get a loan approved.
4. In order to increase the likelihood of approval of the application, a citizen must contact the bank through which he receives a pension. It is possible to arrange a loan in an organization where he has a deposit account.
Banks have introduced restrictions that apply to retired borrowers. Small amounts are available to them, up to 300 or 500 thousand rubles. Usually organizations approve loans for 70 thousand rubles. If there is a guarantor, or the pensioner has collateral, then the loan will be issued for 5 years. In their absence, the loan term is reduced to 1, 5 years.
Of course, there are also benefits that are available to older borrowers. These are preferential interest rates. The most favorable conditions are offered by large credit and financial organizations - Sberbank of Russia, Rosselkhozbank, and Sovcombank.
What documents will be needed
Before applying for a loan, you must prepare the following papers:
1. Passport of a citizen of the Russian Federation.
2. SNILS and INN.
3. Certificate from the Pension Fund confirming receipt of pension benefits for the last 6 months. If a citizen receives a pension at the bank to which he applied for a loan, then a certificate is not needed.
4. If you have a deposit account, you will need an extract from it.
5. Documents that prove the ownership of the property. They are required when transferring it on bail.
Getting a loan is a real challenge. You can increase the likelihood of issuing a loan by contacting a bank where the pension or salary of a working pensioner is transferred. It is easier for pensioners to issue a loan if you provide property as collateral. This will be a positive moment when considering the application.
Credit programs for retirees
The following types of loans are available to citizens of the older age group:
· Consumer credit;
· Car loan;
· credit cards;
· Mortgage.
The good thing about a consumer loan is that the borrower will spend the money at his own discretion. These are construction, gifts, help to loved ones. It is possible to use the funds as an initial payment when registering a mortgage.
A credit card differs in that it can be paid at any point by bank transfer. At the same time, the owner of the plastic will have 50 days for the interest-free use of funds. If necessary, it is easy to get cash from an ATM, but a commission will be withheld.
It is important not to miss out on monthly payments. The funds that the pensioner deposits to the card are available again after the amount has been recalculated.
A car loan is given to pensioners willingly, because a purchased car is considered a pledge. But getting a mortgage is difficult. The main obstacle is the loan term.
Conclusion
Before applying for a loan, it is important to assess your financial situation. The loan should not become an unbearable burden. A potential borrower will need a package of documents. It is easier for pensioners to get a loan if they get a guarantee from working children or friends. To increase the likelihood of a positive decision, it is worth contacting the bank to which the pension or salary is transferred.
