Target loan: is it possible to get it in the BLY?On July 26, 2019 by admin
Our desires do not always coincide with our capabilities, so quite often we have to resort to loans or credits. But what to do if you decide to purchase a car or an apartment, or to finish the studies at the university for a fee, and you don’t have enough money? Then you should think about the target loan. What is its essence, and is it possible to take it in the BLY?
Is it possible to get a target loan in an BLY?
What is this target loan?
To understand that a loan is targeted – it is easy – this is a credit obligation issued for certain purposes. For those planning large acquisitions, such as a car and an apartment, this is an ideal option.
Target loan has its own characteristics:
- the money will be issued only for the purposes specified in the loan agreement. A credit institution can take control of their spending or not at all give the borrower “hands on” – funds can be transferred to the account of the company or the supplier of the goods;
- in case of breach of the contract, the lender has the right to demand to pay the amount and interest on it ahead of schedule, or to count fines and penalties;
- The purposes for which the loan is issued can be varied: the purchase of an apartment, a plot of land, the purchase of a car, equipment, training in a university, repair, medical care, refinancing of another loan or loan, etc., which must be indicated in concluded in the contract;
- money is issued for a specific period. For example, from 3 months to 20 years;
- most often the target loan is issued at interest, at least – without them.
Interestingly, when you receive money in a loan from a real estate lender, it will be pledged to a credit institution, and it cannot be sold, exchanged, or donated to other people – this is a guarantee insurance in case of non-payment of money. Until the full payment of debt to the borrower will be available only the right to use the property.
Target loan: what are the conditions for obtaining?
Theoretically, a target loan can be issued both at a microfinance organization and a bank. At the same time, each lender may offer different conditions for such a loan obligation. When applying for a loan in an BLY, you need to be prepared for the fact that microfinance companies have a number of differences from banks:
|The rate for the use of borrowed money – from 1 to 2.2% per day|
|The loan amount can not be higher than 1 million rubles.|
|The term of loan repayment does not exceed two years.|
But not every microfinance organization can issue such a large amount of money – in most cases the maximum limit is 100 thousand rubles for individuals. High amounts are available for entrepreneurs, and upon presentation of documents confirming the need for such amounts.
If an ordinary borrower wants to get the amount more than is available on the BLY website, we recommend that you personally contact the lender’s office and insist on individual conditions. In this case, you can arrange a target loan – enter in the contract the desired amount and purpose for which the money is needed. Under such conditions, it may be that the lender agrees to issue a larger amount of debt than usual.
Trust Bank Loan
It will be more profitable to take a target loan at a bank than at an BLY – the interest rate is lower. But when applying for a loan, much more documents will be required in addition to the passport of a citizen of the Russian Federation:
- international passport,
- photocopies of all pages of the workbook,
- Marriage certificate,
- certificate of wages,
- Men under the age of 27 are required to provide a military ID, etc.
The main conditions for receiving money are: the borrower’s age that meets the requirements, permanent registration in the passport of the Russian Federation, excellent solvency and formal employment from six months.
If a citizen making out a target loan is married, his wife or husband is automatically a co-borrower, and whether they work or not does not matter.
The bank is also quite meticulously checking the credit history – if in the past the client had problems with repaying loans, frequent large fines or taxes, it would be unlikely to sign an agreement to receive the amount.
Trust loan: who needs?
A target loan in an BLY is more suitable for people who for one reason or another cannot take it from a bank, for example, have the same bad credit history, and money is required urgently. In microfinance organizations, only a passport of a citizen of the Russian Federation and the corresponding age of the borrower from 18 years of age is required to receive money. When making money in debt for a specific purpose – the purchase of a car or any household appliances, for example, you can count on larger amounts and individual conditions from the lender. Money is issued quickly – during the day. In the bank, you can expect them from several days to several weeks.
In the case of a bad KI, the necessary money in a microfinance organization will still be given out, although the percentage may be more and the requested amount less. But there is a solution: in order to reduce the interest rate, you can take a loan against property, as a kind of guarantee for a credit institution to pay out money.
Trust Loan Agreement
A target loan agreement with a credit institution must be written in writing. Its required items are:
- loan amount taken from a credit institution – the subject of the loan;
- the reason for which the loan was taken is the goal;
- debt repayment schedule;
- the amount of accruing interest, the order of their repayment.
Also must be attached to the act of receiving and transferring money, which will indicate the amount of the loan, details, as well as the necessary signatures of both parties. You need to know that the contract will be valid from the moment of issuance or transfer of money, and not from the moment of its signing. If the document is signed, but the amount has not yet been received for use, and the client, for some reason, has changed his mind – it is easy to execute the termination of the loan agreement without being a debtor.
Target loan in BLY: results
Making a contract of a target loan instead of the usual one is a good option if the borrower needs a larger amount than the standard BLY offers. But do not forget that microfinance organizations mainly give out money for short terms and for small amounts – up to salary. Not all organizations are involved in issuing long-term loans – this is a less profitable microfinance industry, so not every lender will agree to a target loan.
But if the borrower is a regular customer of the BLY, has several debts paid on time, he agrees to overpay on interest for the immediate issue of money and the ability to perform the operation remotely – it is worth trying to agree on a target loan and individual contract terms.
We remind you that when applying for any credit obligation, you need a balanced approach to the transaction, independently assess the chances of paying the debt on time and not violating the deadlines, because the delay threatens not only damage to your credit history, cancellation of the loan agreement, but also large expenses when trying to get out of a debt hole.