Any bank issuing a loan to a borrower pursues one goal - to obtain material benefits. Therefore, one should not hope that the use of bank funds will pass for the client without financial losses. However, a financial institution may lower the interest rate for its borrower.
There are several ways you can actually lower your bid.
- Contact the credit institution where you are serviced. Preferential lending programs are provided for salary, corporate and pension clients. People who have deposit accounts and cards with the bank are also offered favorable conditions.
- In order to really compare the interest rates of banks, use the service https://cash-in-credit.ru. Submitting an application does not oblige you to anything, but the banks' policy will be clearly visible;
- The more documents the borrower provides, the higher his chances of getting a lucrative offer. Additionally, you can submit, for example, a lease agreement for residential or non-residential premises. This additional income will become a kind of guarantee for the bank;
- The interest rate is significantly reduced for a borrower who is willing to provide a reliable guarantor.
- You can offer property secured by a loan, this will also affect the interest rate.
Important nuances for obtaining a loan on favorable terms
Banks put forward a number of requirements for their borrowers, which allow to take money on credit on favorable terms:
- Positive credit history. If a person paid off previous monetary obligations without delays, he is regarded as a reliable client and the rate for him is reduced. If your credit history is damaged, you should improve it by taking, for example, a credit card, and only then apply for a large amount;
- The higher the income and seniority of a person, the more favorable conditions are provided for him;
- Client's solvent age. Persons under 24 and over 65 cannot count on preferential credit terms.
So, where should you go for a loan on favorable terms? Organizations such as Tinkoff, Sovcombank, Alfa Bank, Home Credit and Raiffeisen Bank declare a low rate for their borrowers. Their interest rates range from 8.9 - 14.9% per annum.