The Russian youth asks the question: “From how many years can we take a loan?”, The older generation changes one particle in this question: “Until how many years can we take a loan?”. For how many years can you take a loan under Russian law? For example, a consumer loan at Renaissance Credit Bank can be taken from the age of 20, but with certain other conditions. After studying one institution, a client has a question: “From how many years do they give loans in other banks?” From how many years they give a loan in Bank, from so many in most other banks, because the age limits are about the same everywhere. There are only small variations.
The age requirement in banks
The main period, which all banks comply with in terms of lending to the population, is in the range from 21 to 65 years. It is understood that the borrower at the time of repayment of the loan should be 65 years old, and not at the time of its issuance. The maximum allowable frame – from 18 years to 80 years. No bank in Russia has the right to issue any money in a loan to a minor client. And not a single bank will risk lending even “for a small” person, who is already in deep old age. Youth and pensioners, in principle, issue a loan with great care. There are several reasons for this:
- young people have not yet “got to their feet,” that is, people in this category do not have a steady income;
- there is a reverse situation with pensioners – there is a regular income (pension), but many pensioners can no longer work. A pension may not be enough to pay the debt. Plus, there is always a higher risk that something will happen to the borrower (serious illness, death);
- and, as a rule, they have nothing to offer the bank as collateral for credit security. A loan, at best, is secured by a guarantee from an individual (usually the closest relative of the borrower).
You can consider in order the conditions for obtaining credit loans in several banks. And you should start with the largest – Bank. So, how many years do they give a loan in Bank? They give loans from 18 years. But this does not mean that from the age of 18 you can get money in debt from the bank to everyone. Such a young clientele in banks is not favored in the same way as a too old one. Here you can get a loan of various levels with a corresponding set of requirements for the borrower:
- economy-class credit cards with a small cash limit (up to 40 thousand rubles);
- consumer credit (up to 3 million rubles) under the standard receipt scheme;
- large cash issuances – mortgages, business loans, just big loans (but the last item in this article is not particularly important);
- Bankwill give a truly large-scale loan only to a client who meets absolutely all requirements.
Gradation of borrowers on solvency
Now we will consider the main characteristics of borrowers and what they can count on with such characteristics:
- Bankloan from how many years really get? From 18. So, the client is 18 years old, there are no guarantors, there is no property, there is no permanent work. He can only offer the bank a passport with a residence permit and verbal promises. The maximum that is worth counting on is the simplest credit card with a limit of a couple of tens of thousands of rubles (in fact, a microcredit). And you will have to return much more, because the annual interest will be no less than 30. Although, most likely, the client will be refused.
- All the same, only there is a guarantor (physical person). Then at least an economy class credit card is guaranteed.
- Age 21 year. There is a permanent small official income or some small property suitable for collateral (for example, an inexpensive domestic car). Such clients Sber prefers to issue consumer loans in the amount of up to 100 thousand rubles.
- Age 21 year, there is a guarantor and constant official work. This option is very good. Here an institution can borrow up to 1.5 million rubles (without a guarantor) or up to 3 million rubles. (with guarantor). Annual interest in the first case will be 15.5%, and in the second – 14.5%.
- Age more than 25 years, there is an average stable income, potential guarantors, mortgaged property. Such a borrower is guaranteed and in the shortest possible time can count on a large consumer loan with a favorable interest rate.
A mortgage loan with how many years is given? Officially from the age of 21, but in practice, borrowers are always older, since the requirements are much tougher there (within the 4th and 5th points).
The length of the loan period also affects the annual percentage overpayment. Plus, the fact of presence / absence of salary “plastic” is added here:
Loan term, months
Banksalary / pension card
No salary debit card
From 3 to 24
From 16.5% to 21% per annum
From 21% to 25.5% per annum
25 to 60
From 17.5% to 22% per annum
From 22% to 26.5% per annum
Regardless of how many years they give loans, some documents are always required. The list of documents that are needed for loan processing remains standard:
- passport and its complete copy, including a page with registration;
- certificate of income in the form 2-NDFL;
- employment record and its full copy;
- military card or registration (for men up to 27 years);
- papers proving ownership of some valuable property;
- passport and certificate of income from the guarantor.
It is clear that not all items here are mandatory and possible for other customers, but without a passport and tax certificate in a financial institution should not go. Sometimes Bankmay allow borrowers to choose the type of payments: annuity or differentiated. At first, the total amount of debt is taken, interest is calculated from it, added to the loan body, and the entire amount is divided into 12 (months). The resulting figure – this will be the monthly payment that the client will have to make to complete the leveling of the debt. The differentiated payment differs in that each year the monthly installment is recalculated, since the interest will be calculated each year from a smaller amount. Consequently, the amount of regular contributions will be less.
Offers from other credit organizations
However, all consumer loans only provide for annuity type payments. Returning to the question which bank most optimally gives a loan, it is necessary to say that at 95% it depends on the borrower. Bank conditions may be beneficial to one and disadvantageous to another. Renaissance Credit, Home Credit and other financial institutions in fact adhere to approximately the same credit policy. There is no free cheese anywhere. Another thing is that in one bank a 20-year-old client was refused, and in the other – they would give the desired (already mentioned Renaissance Credit). Here are just a few brief sentences:
Finally, I would like to mention one small thing, but important: from how many times you can get a loan from a bank. In terms of time. Practice shows that it is always better to contact such questions in the first half of the day, so that there is time to resolve possible issues.
This article covers many points, for example: for how many years they have been giving loans to Bank, the largest bank in the Russian Federation. Or from how many years you can “poke your nose” in other famous banks. But most importantly, a very useful survey is conducted here for young people who are about to take a consumer loan or microcredit.