Any loan is a responsible decision. Banks require a full package of documents from their clients, learn about the purposes of lending, and only then the procedure for obtaining a loan begins. Of course, it will be a shame if, for some reason, a banking institution refuses you.
Below are the recommendations that should be followed when applying for a loan.
Count on yourself only
Before making your final choice, make sure that the monthly payments are not an overwhelming burden for you.
The main condition for the bank is that your payments do not exceed 40-50% of your salary. Therefore, think carefully if you are ready to give half of your earnings every month.
Don't give the bank unnecessary information about yourself
When filling out the questionnaire, indicate your maximum income, without specifying all your expenses.
Filling out the questionnaire should be approached responsibly, because even an incorrectly indicated apartment number can serve as a reason for refusal.
Wait for a call from the bank
When filling in your details, indicate your mobile and work phone numbers. Bank employees can contact you during business hours. If for some time the loan officer could not get through to you, then there is a possibility that you will be denied a loan.
Apply for a credit card
If you need a loan to buy furniture or household appliances, then the best option would be to issue a credit card.
According to statistics, credit cards are much cheaper than purchasing the necessary goods on credit in the store itself.
Another significant advantage of cards is their reusability.
Take a short-term loan in foreign currency
It is best to arrange a loan for a period of up to three years in euros or dollars, since in this case the interest rates will be lower.
However, if you receive a salary in rubles, you will have to pay extra for currency conversion.
Save on interest
The larger the first installment, the shorter the loan term will be, and, accordingly, the interest.
Also, the loan will be cheaper if the borrower provides a certificate of income from work.
Avoid scammers
You should not agree to take out a loan for another person. Fraudsters often take advantage of the gullibility of citizens. For example, you may be offered to take out a loan for a product in a store for a certain fee.
