Cash loan in Bank: conditions, interest
Among all the variety of banking services, a special place is occupied by a cash loan from Bank. Despite the active development of issuing credit cards, there is a significant limitation that does not allow using the borrowed funds on the card with the maximum benefit – it is not profitable to withdraw money from a credit card. Of particular interest in this regard is the cash loan offered by Bank.
Known for the incredible number of offers of a wide variety of credit cards for ordinary citizens, entrepreneurs, LLC, the bank took into account the need of its clients for borrowing money, having developed a consumer lending program with the ability to use cash for payment without any restrictions.
The main advantages of a cash loan
Unlike cards with borrowed funds, cash overpayment on the loan is significantly lower. This is due to a lower interest rate from Bank, a cash loan can reduce the overpayment by almost half.
The lender does not have its own offices, which makes it possible to give borrowers particularly advantageous offers with a minimum of requirements for borrowers and maximum comfort during servicing. For Bank, nothing is impossible, even in receiving cash, without having branches, offices and cash desks.
By going through a simple procedure, the borrower receives the required amount of money during record low periods:
- Applying for a loan through the website of the lender without visiting the office and collecting funds.
- Getting an answer about the decision taken within a few minutes. In some cases, the request may take up to 2 days. The bank manager, upon receiving a request, at the telephone number indicated in the application, contacts the prospective borrower to clarify a number of issues related to the issuance of a consumer loan.
- Cash can be obtained by crediting the required amount to the Black debit card account, which means that all privileges, promotions, bonuses applied to cards of this type become available to the borrower. The amount borrowed from the bank is subject to withdrawal through any ATM without commissions and additional interest.
- If the borrower wishes to receive money without a Black card, the place is agreed where the amount will be issued through one of its partners. The choice of the borrower is offered about three hundred points of issue.
For funds credited to a debit plastic as a consumer loan, there are no restrictions for non-cash payments, while retaining the right to participate in bonus programs of accumulating points and returning a cashback. As a result, savings on individual groups of payments can reach 30%, returned to the account of the card after purchasing promotional goods through one of the bank’s partners.
Consumer loan terms
You can get loans at Bank under the following conditions:
- The maximum limit is 1 million rubles, without the involvement of guarantors.
- The repayment duration is 3 years.
- The minimum interest rate on the loan – from 14.9% per year.
- There is no charge for cash withdrawals and monthly payments.
- The penalty for late payment is 1.5 thousand rubles or 0.5% of the total debt.
High chances for online cash loan approval from borrowers who meet the following bank criteria:
- Citizenship of the Russian Federation.
- Age over 18 years.
- The presence of a stable monthly income of at least 15 thousand rubles, without references.
Trusting its customers with funds at favorable interest rates, the bank requires careful attention to the performance by payers of their obligations. Admitting the delay, the client immediately spoils his credit history, and will also have to pay 0.5% of the loan amount for each week of non-payment.
How is the credit limit calculated?
The limit on a bank loan is set individually, up to 1 million rubles. The minimum loan amount is from 50 thousand rubles.
The following parameters will affect the determination of the upper limit of the loan:
- The presence in the history of the client other repaid loans from the lender.
- Assigning a candidate to the category of payroll or corporate clients (the employing organization is served by this bank).
- Data from a centralized database of credit histories with complete information on the repayment of previous loans. The presence of insignificant delays leads to an increase in the rate and lower credit limit.
- Number of dependents on security, family composition.
- Official employment.
- The presence of liquid property, loan obligations in other banks.
Thus, the financial institution will comprehensively examine the financial position of a candidate for a consumer loan and take into account his reputation as a payer under other banking agreements.
At Bank, a cash loan is obtained only with full compliance of information from the cash loan application form with information from official sources. If false information is detected or distorted in its favor, an individual will not only be refused a request for funds – a negative record of this fact will appear in his credit history, which will significantly complicate the receipt of borrowed funds the next time.
Special attention should be paid to the possibility of issuing collateral for the obligations taken. Real estate pledge will allow the bank to give an increased limit of borrowed funds up to 15 million rubles with a maturity of up to 15 years.
Work with a loan calculator
Before you submit your request for a loan online, it is recommended that you carefully weigh your options for the upcoming debt repayment, independently determining the preliminary amount of future loan payments at Bank.
You can use the loan calculator available on the corporate Internet resource to determine:
- estimated bid amount;
- monthly payment.
By entering indicators of the maturity date and the amount required for a Bank loan, payment calculations are made that will allow the borrower to assess how fulfilled the loan obligations are according to the requested parameters.
Before you take a cash loan, it is necessary to examine in detail what percentage will be overpaid on the loan and how to properly repay the debt without causing the formation of delinquencies.
Ways of repayment of loan obligations
The absence of branches and offices does not affect the comfort when repaying a loan from Bank. There are lots of different ways to make monthly payments by bank transfer or in cash.
The most convenient option would be to replenish the account of the card to which funds were transferred. You can make funds for bank plastic in any of the following ways:
- Transfer from the account or card of another bank.
- Depositing cash at one of the payment acceptance points of the bank’s partners.
- Sending money transfers is also available in post offices.
- Acceptance of cash through the terminals.
- Payment through a mobile application or online banking.
Disadvantages and advantages of Bank consumer loan
As part of the consumer contract, the client will be offered to purchase insurance protection for the program with an increase in the monthly installment of 0.5%. This leads to a slight increase in the client’s payment obligations, but provides greater security in the event of non-payment. The disadvantages include an increased percentage, which in some cases reaches 54.9% per annum. You should carefully study the conditions for issuing borrowed funds before signing papers with the bank. A cash loan should be issued only after all the conditions of cooperation are clear and accessible. This will avoid misunderstandings when using and repaying debt through bank plastic.
Among the positive characteristics of this banking program include the maximum comfort for customers in the use and repayment of obligations, as well as the minimum requirements for registration:
- There is no need to collect additional certificates from the employer, to certify a copy of labor, to provide other documents, except for the passport of a citizen of Russia.
- The bank provides a unique opportunity to use the issued large amount with a minimum package of documents for any purpose, replacing various target loans. For example, instead of a car loan, a customer buys a car for cash without obligation to insure a car with a motor hull and issue it as a pledge.
- The decision to issue a loan is made within a couple of minutes after receiving an online application from the client with a further SMS notification about the possibility of lending.
- Consumer loan allows you to issue a unique debit card, which further provides the opportunity to receive large discounts from bank partners when making purchases, as well as accumulate a guaranteed cashback of at least 1% for non-cash payments. The client independently decides how to take the approved amount: in cash or by transfer to debit plastic.
- In addition to the increased service on banking plastic, the client is given the opportunity to use convenient Internet banking or mobile bank, making cashless payments at any time of the day.
Despite the great popularity and demand for credit cards, in some cases, cash will not do. It is for such cases that a cash loan is issued, allowing you to save on commissions for cash withdrawals. In addition, obtaining a cash loan allows you to pay off the debt for a significant period of time, reducing the loan burden of the payer. Taking a consumer loan in cash at Bank will allow you to combine all the benefits of a credit card and at the same time always have a certain amount of cash.