Reducing the interest rate on existing loans. Is it possible to reduce the interest on a mortgage in Sberbank? Contact the bank where your employer is provided with the “salary project” service

Banks set interest rates on loans for a reason, this figure directly depends on what the key rate of the Central Bank of the Russian Federation is at the moment. If it is high, credit organizations are forced to raise their interest rates on loans, and this, in turn, hits the pockets of ordinary borrowers who need a loan right now. But are there ways to lower the interest on the loan? We have prepared 5 legal ways to reduce the interest rate on your loan.

It is quite possible to reduce the interest rate on a loan - you just need to meet a few conditions.

Method number 1: Restructuring

If the borrower finds it difficult to repay his loan, according to the established schedule, he can apply to the bank with a request to restructure his loan. Banks are quite willing to meet the borrower, since it is much more profitable for them to offer him a new payment schedule than never to see the money issued.

During restructuring, the borrower may be offered an extension of the loan term, a reduction in the monthly installment, and even a reduction in the interest rate. True, it can decrease by only 1-2%, but it's better than nothing. The period for which the bank agrees to reduce interest is also not long - up to two years maximum. After that, the interest rate will be the same as it was at the time of signing the contract.

Method number 2: Refinancing

Refinancing is the process of obtaining a new loan on more favorable terms in order to pay off the old one. You can do this in the same credit institution that issued you the first loan. For example, if you took out your first loan a year ago and the interest rate on it at that time was 17%, and now it is 14%, you can ask the bank to refinance. That is, having received a new loan, you, with the help of the issued funds, will close the old loan that is too much for you, and you will pay off a new, more lifting loan for you.

It should be borne in mind that it is worth talking about refinancing only when the difference between the percentages is from 3 points. If the interest rate on a new loan differs from the old one by 1-2 points, it is not advisable to refinance the loan. Also, you should not do this procedure for those who have an annuity loan payment scheme, and most of the debt has already been repaid. All interest has already been paid to the bank, so there is nothing much to reduce, and the rest of the debt is the body of the loan itself.

Method number 3: The maximum package of documents

The interest rate for each borrower is determined individually. The more documents confirming their solvency that the client provides, the more confidence he will inspire in the credit institution. Accordingly, the interest rate can be changed in favor of the borrower, since the bank will not doubt that he will repay the debt in full and on time. This means that you do not need to play it safe with the help of inflated interest.

Therefore, when applying for a loan, it is advisable to have with you any papers confirming your positive financial status. This can be a work book, and documents for an apartment, house or car, diplomas of education, certificates of additional income, etc. Your goal is to reassure the bank that you will definitely repay your loan on time.

Method number 4: Good credit history

When a person applies for any loan, a file is filed with the credit bureau. Your behavior regarding the loan taken is fully displayed in this organization. All timely or late payments, repaid loans and current debts all affect your reputation in the credit industry. If you are a happy owner of a good credit history, you can count on the loyalty of the bank and, as a result, lower interest rates. Especially if you are already a client of the selected bank and have previously repaid loans in this credit institution in a timely manner.

A positive credit history is another plus for the borrower, as the bank will be confident in your solvency and may agree to reduce the interest rate for you.

Method number 5: Guarantors and insurance

As mentioned earlier, the bank needs to see that the loan is issued to a verified person, and, in which case, there are guarantees to return their funds. These guarantees are guarantors, collateral and insurance.

If there is security, that is, a guarantor or pledge, in case of non-payment of the debt, the bank has a guarantee to receive money either from another person or by selling the property pledged by the debtor. And if you have insurance, the insurance company will pay the debt. Therefore, many banks seek to force their customers to insure their life, health and ability to work.

In the presence of the above guarantees, the interest rate may be reduced. However, it should be remembered that the borrower will have to pay for the services of the insurance company during the entire loan period. And guarantors are not easy to find - not everyone will agree to take the responsibility to pay your debt in case of an unforeseen situation. Banks' requirements for guarantors are also quite high - they will also need proof of solvency, and the more documents they provide, the better.

Method number 6: Promotions and special offers

Often banks hold promotions for their regular customers in order to keep them. They also offer special conditions for new customers to lure them. If you are already a client of a credit organization where you are going to take a loan, check if there is any promotion that can improve the conditions of the loan provided to you.

If you still do not know which bank is better to take a new loan, do not hesitate to walk around different lending institutions and find out where there are interesting offers for new customers. Often, some groups of people are provided with favorable conditions for loans, such groups include pensioners, military personnel, teachers, etc.

A loan is an excellent solution in case of a difficult financial period or a desire to urgently purchase a product or use a service. However, cooperation with a bank is almost always an overpayment for the borrower and a benefit for the bank. Then an investigative question arises - is it possible to make the loan as profitable as possible, i.e. how to lower the interest rate on a loan? There are several ways.

What is the interest rate based on?

Before considering how to reduce the interest rate on a loan, let's figure out what the lender is guided by when setting a rate on a particular loan product. The percentage is influenced by the following factors:

1. Risks of non-repayment of funds by the borrower. By issuing loans, banking companies bear certain risks. If the client raises doubts about his solvency or responsibility, the bank has the right to establish more stringent conditions for him and vice versa - loyal in a trusting relationship. For example, quick express loans are issued using only one passport, but the interest rate for such programs is somewhat overpriced.
2. Loan terms. As a rule, with long-term use of money in debt, you have to seriously overpay. In fact, loans up to 3 years cost people less than loans up to 5-7 years. This indicator is also associated with risks for the creditor, because the possibility of non-payment of a debt obligation increases. During this period, the chances of illness, loss of work, death of the client increase, as a result of which the bank will lose, and the interest is a kind of compensation here.
3. The key rate of the Central Bank and the refinancing rate. It is these figures that largely influence the credit market as a whole. The key rate is the most important instrument of the state's monetary policy. It affects not only interest rates on bank loans, but also the cost of funding, deposits for various categories of customers.

TOP 7 ways to reduce the interest rate on a loan

Ordinary citizens cannot challenge the decision of the regulator and make the changes they need, but there are quite effective methods that will help in such a matter as lowering the interest rate on a loan, for example, in consumer lending. Let's consider them in more detail:

Extended package of documents

Collecting and providing the loan officer with an extended package of documents. If a potential borrower is able to collect additional certificates for obtaining a loan, then the lender can reduce the loan rate by several points and even increase the cash limit. Some banks have special programs and notes regarding this action. The list of such documents may include: a certificate in the form 2-NDFL, a certificate of ownership of real estate, cars, etc. Your task is to convince the lender of your reliability and the ability to repay obligations within the period specified in the contract.

Registration of insurance

As for consumer lending, insurance here is not a mandatory procedure for the client, but banks strongly recommend doing so. Often, lenders set special conditions, i.e. When you take out an insurance policy, the loan rate will be lower than without it. The decision in any case remains with the borrower.

Provision of a guarantor or collateral

Guaranteeing for you by another person always makes the loan more profitable. The problem may be only in finding such a person, because not every relative or friend will want to document their consent to repay your obligation if necessary. In addition, the requirements for guarantors are also serious (permanent work, good credit history, etc.). Regarding collateral - it can be your personal property, for example, a house, apartment, car.

Having a perfect credit history

A person who has applied to a bank or other financial institution at least once in his life has a credit history. It displays important information for the lender: the facts of the client’s contact with credit structures, where he was denied or approved for a loan after verification, indicators of fulfillment of credit obligations, the presence / absence of delinquency, litigation, etc. Sometimes, even a slightly damaged CI can play a big role in the decision of the bank to issue money in debt and in setting the size of the interest rate.

Having an open bank account where salaries are transferred

Being a client of a banking organization and having an open account where the employer transfers your wages or pension contributions to you on a monthly basis, you can consider the loan programs of this bank. The lender will be more loyal to your candidacy than to other borrowers "from the street" and may offer a more profitable package with reduced interest.

Comprehensive service

Various ways of cooperation with the selected credit company will definitely help you get a loan inexpensively. This can be a deposit/deposit made earlier here, participation in promotions such as "Bring a friend", etc. You must become a valuable customer for the bank, whom he wants to attract and retain at any cost.

Careful monitoring of promotional offers of the bank

To attract new customers on the eve of the holidays, many banking institutions arrange special promotions, offering low interest rates, simplified requirements for borrowers. Profitable products often appear before the New Year, March 8, Valentine's Day, the holiday period. Follow the ads or visit the relevant portals yourself.

It is also worth noting that various large Russian banks have programs for pensioners, state employees, and the military in their “arsenal” of proposals. If you fall into this category of borrowers, you can get an excellent loan at favorable interest rates. See detailed information on the official websites of banking organizations.

How to improve conditions, reduce interest and monthly payments on a current loan?

You took out a loan at a certain interest, but you are no longer able to pay it, or the product was issued due to urgency in a way that is unfavorable for you, is it possible to reduce the interest rate on a loan in such a situation? Correcting the situation is difficult, but possible.

Many citizens do not even realize that there are a number of creditors who provide for the option of a cramped position of the client and prescribe the possibility of lowering the interest rate in the contract. When a problem period occurs, the bank concludes an additional agreement with the borrower, according to which the interest is revised and slightly reduced. Therefore, you never need to hide from debts, but immediately go to the bank, explaining the circumstances. If you are an honest and responsible borrower, the credit company will definitely meet you halfway and help resolve the issue in your favor.

Consider ways to deal with one or more of the open loans below.

Loan refinancing

Refinancing programs do not exist everywhere today, but large lenders (Sberbank, Rosselkhozbank, VTB 24, Bank of Moscow, etc.) offer quite attractive conditions for cooperation. You can also apply to a bank with which a loan agreement has already been concluded, if there is a corresponding offer there.

The refinancing procedure is a kind of on-lending, but with a more favorable interest rate. In fact, this is the execution of a new loan in order to repay the current loan in full or in part. However, deciding on this type of banking service, you should carefully weigh and calculate everything. In addition to lowering the interest rate, refinancing has a number of other advantages for the borrower, namely:

1. The possibility of reducing monthly payments due to a long credit period.
2. Changing the loan currency. The item is especially relevant due to the current instability with the exchange rate. If you previously issued a foreign currency (dollars, euros) loan at a rate lower than today, it makes sense to refinance and no longer overpay.
3. Consolidation of several loans in different banks into one. Credit cards, cash consumer loans for a total amount of up to 500,000 - 1,000,000 rubles can fall into the category of loans for refinancing, depending on the conditions of the bank. This is very convenient, because the monthly hassle associated with paying off debts in different banks instantly disappear.

When considering the refinancing procedure, it is also worth considering such points as: additional expenses (commission to the bank, insurance, collection of certificates, etc.), no more than 5 open loans are allowed to be combined into one, for a creditor agreement, you need to obtain permission from other banks where there is a debt .

Early repayment of a loan

Early repayment, for example, in a partial amount, does not reduce the interest rate as a whole, but helps to reduce monthly payments and reduces the interest base. Thus, the financial burden on the client is greatly facilitated.

According to the Law No. 353-FZ “On Consumer Credit (Loan)”, amended in 2014 (amended on July 21, 2014), the borrower can repay the debt to the bank within 14 days from the date of receipt of the consumer loan. This may be done without prior notice to the credit institution. Previously, clients, making early repayment of debt, had to pay fines, but the current Law excludes this.

An equally convenient advantage for the borrower has now become the payment to the debtor of a consumer loan of the full amount of interest accrued for the actual period of using the loan. Also remember the following features of the early debt repayment procedure:

1. You have the right to repay the loan within the first month and pay the lender only for the days of using the loan.
2. If you want to return the money to the bank a month after receiving the loan, you will still need to notify the lender about this within 30 days before the day of early action. Next, the credit company must provide you with an accurate calculation of the loan (within 5 days after receiving notification from you).

Debt restructuring

Loan restructuring is the bank's actions aimed at changing the terms of the loan in connection with the borrower's request. The lender first of all seeks to facilitate the servicing of his client's debt and thereby return his money. The procedure will help to solve the problem without the participation of bailiffs - peacefully. The service exists in varieties:

Most often, people turn to the bank for restructuring, having an outstanding mortgage in their hands. Borrowers have the right to “beg” for debt forgiveness, referring to the Civil Code of the Russian Federation, Art. 415 and guided by a difficult financial situation, documented, for example, an extract from the labor exchange, a certificate of disability from the hospital, etc.

Contacting Rospotrebnadzor

If the bank refused to satisfy your claim, did not make concessions, then you should apply more stringent measures of influence - contact Rospotrebnadzor. The authorized state body fully protects the rights of consumers in consumer lending.

If necessary, the authority will go to a credit institution with an inspection, visually examine the terms of the contract, and identify possible violations. If the latter happens, it will bring the bank to administrative responsibility. As a punishment, a fine of 20,000 rubles or voluntary satisfaction of the claims of the injured client can be imposed.

How to lower your mortgage interest rate?

Reducing the interest rate on a mortgage loan is also a very real action, but not everyone can take advantage of this. It is possible to achieve a revision of the conditions in the following cases:

1. The birth of a child.
2. Job change/loss, financial difficulties.
3. Unfavorable changes in the state of health (accident, complex illness, etc.).
4. Desire to pay off the mortgage loan ahead of schedule.

Options for lowering the interest rate on an existing mortgage loan are practically the same as those that we listed above, considering consumer lending, but there are new ways:

1. Refinancing.
2. Restructuring.
3. Use of social support. Some banks have special programs partially funded by the state. Among them: "Young family", "Housing", etc.
4. Appeal to the court. This option is used if the borrower has found any serious violations in the mortgage agreement, and the bank does not want to make concessions.

The first thing to do when thinking about how to reduce the interest rate on a housing loan is to contact the lender personally, ask a question of interest and listen to options for solving the problem. The second step will be writing an appropriate application (a sample can be downloaded), providing the necessary documents. Some banks have ready-made application forms available online, but it is permissible to write a paper in any form addressed to the head of a banking institution.

Litigation

It is necessary to seek help from the court in order to reduce the debt burden as a last resort and not in all situations, i.e. when the peaceful methods described above could not be used due to the fault of creditors. Practice shows that, thanks to the "Supreme Bodies", it is realistic to achieve a return from the bank of interest on a loan.

In the Civil Code of the Russian Federation Art. 809 displays the important points that the plaintiffs most often refer to in proceedings between the bank and its client. The article displays protective information for the borrower.

It is very difficult for simple and financially illiterate people to calculate how much the bankers shortchanged the debtor. Therefore, when such a question arises, it is better to contact a lawyer for clarification. Consider also the shortcomings of the trial - material costs (lawyer services, court costs). They may even exceed the expected payoff. But the saddest thing is the damaged reputation and relationship with the creditor. All information must be reflected in your credit history, which is then available to other financial companies. And it’s not a fact that the next lender will figure out who was right and who is wrong, for him you will become a client from the risk group. Dealing with a person who is able to file a complaint with the court is not attractive to lenders.

Lending among Russians has been relevant for a very long time. People borrow money to buy a house, a car, pay for their studies, go on vacation or simply provide themselves with everything they need. Regardless of the purpose of lending, a person wants to choose the most profitable option for himself. The determining factor is the interest rate. After all, the size of the overpayment and the profitability of the proposal itself as a whole depend on it. In the article, we will consider whether it is possible to reduce the interest rate on loans in Sberbank, we will analyze how it is determined in this institution and what the client himself can do in this situation.

How does Sberbank determine the interest rate?

Sberbank, being the largest domestic bank, inspires great confidence among Russians. Not surprisingly, most of them apply here for mortgage and consumer loans.

Each bank has its own credit policy, on the basis of which interest rates are determined for the products offered. And in order to choose the most suitable time for applying for a loan, a person must understand what factors affect the interest rate?

People often think that banks set the interest rate at will. But this opinion is wrong. In the course of selecting the optimal rate for both parties, the lender takes into account many features.

All factors can be divided into several groups, each of which has its own set of conditions and features:

1. Independent. That is, they are determined by external circumstances. The bank and its creditors cannot change the level of influence of these factors. The determining factor here is the refinancing rate determined by the Central Bank. There is a direct relationship here - if the rate decreases, then loans are cheaper for consumers, while an increase in the rate makes banks raise interest rates. Independent factors also include the creditor's tax burden and the need to obtain compulsory insurance for clients in accordance with Russian law.
2. Passive. The main component is the level of inflation (which is now gradually decreasing, which is why interest rates on loans are also falling). The solvency of the population is another important factor. The lower the standard of living, the more favorable credit conditions they try to offer in banks. The level of competition between financial institutions also has a positive effect on the size of the interest rate. The financial condition of the bank (assets, balance sheet, profit) will also change the level of overpayment.
3. Commercial. We are talking about the presence of current expenses, including utility bills, staff salaries, rental of premises, and inherent risks. Given all this, the bank forms a certain rate of return, and then sets the interest rate.
4. Client. This is the only group of factors that depends on a particular consumer. Based on the customer's assessment, the bank makes a decision on issuing a loan and its conditions. Usually, age, income and work, property, credit history are taken into account. The more trust a person inspires, the more favorable the interest rate he will receive at Sberbank. And for payroll and corporate clients, there are additional bonuses in the form of a percentage reduction.

How can a borrower reduce the interest rate on a loan at Sberbank?

If a person wants to get a loan at the most favorable interest rate, then he can only influence client factors. In the case of Sberbank, you can reduce the percentage in one or several of the following ways:

• Achieve a perfect credit history. Sberbank takes this factor very seriously. Malicious non-payers may even be refused. If a person returns the money on time, then his credit rating rises. Another effective option is to apply for loans every time at Sberbank. The more times a person uses the services of an institution, the more trust he will inspire.
• Become a payroll member. Sberbank is more willing to lend to people who receive a salary on the bank's internal card. This allows the institution to verify the solvency of a potential borrower. This factor also reduces the risk of non-payment and debt formation. Many loan products for payroll clients are provided at a lower rate than for everyone else, at 1% per annum. By the way, in some cases, pensioners receiving pensions from Sberbank can also receive benefits.
• Provide collateral. It can be a guarantee of individuals or a pledge in the form of a client's real estate.

All together allows you to significantly reduce the interest rate. As a result, the profitability of a loan product for a particular client increases dramatically.

Sberbank cut interest rates on loans

For many Sberbank customers, 2017 was an excellent opportunity to get a loan on favorable terms. Due to the decrease in inflation and some other factors, the institution lowered the interest rate on several lines of credit products at once.

Thus, the interest rate on consumer loans decreased by 4% on average. So, you can take a non-purpose loan without collateral at Sberbank at 13.9%, and when guarantors are involved, this value drops to 12.9% per annum.

Even lower was the interest rate for military personnel participating in the NIS. They are given money at 13.5–14.5% per annum.

To attract even more customers, Sberbank has developed a refinancing program for people who have taken loans from other banks. For them, the interest rate is set at 13.9 - 14.9% per year, when it comes to on-lending consumer loans. If the client wants to refinance a mortgage at Sberbank, then the interest rate for him will be even lower - 9.5%.

At the same time, the final value of the interest rate is still determined individually. Sberbank immediately evaluates a combination of factors, including the level of reliability and solvency of the applicant.

Reducing the interest on an already taken loan from Sberbank

A few years ago, when a serious crisis occurred in the country, the interest rate on absolutely all categories of loans rose sharply. But people have not stopped borrowing money. And today they pay back loans taken at 15-19% per annum.

Such people may have a completely logical question, is it possible to reduce the interest rate on an already taken loan from Sberbank? Yes, the financial institution now provides such an opportunity. Moreover, in 2017, clients were offered preferential terms, allowing them to refinance several loans at once, including those that were issued in other banks.

How to lower the rate on the current loan?

To refinance a loan, a person must personally visit a branch of Sberbank. There, the specialist will offer him to fill out a questionnaire. When going to the bank, you need to take with you a certain package of documents:

• Russian passport (permanent registration is required);
• loan agreements for current loans;
• certificate on the absence of delays and the amount of the remaining debt;
• work book or a copy certified by the employer;
• military ID (relevant for men under the age of 27);
• marriage certificate and birth certificate of all children (if any).

It is also worth taking care of confirming your income. To do this, you can take the appropriate certificate at work. The more information confirming the reliability and solvency that the client provides, the higher the chance of getting approval.

Refinancing terms

Refinancing a consumer loan at Sberbank allows you to borrow up to 3 million rubles for up to 5 years. Security is not a prerequisite.

In the case of refinancing a mortgage loan, a client can borrow from 1 million rubles for up to 30 years. But in this case, collateral in the form of collateral real estate will be a mandatory requirement.

Benefits of refinancing

Refinancing is a profitable process for the client and the bank. The borrower receives the following benefits:

• reduction of the monthly payment;
• the ability to repay the monthly payment at a time, and not for each loan separately;
• the ability to remove the encumbrance from the pledge;
• possibility to lower the interest rate;
• opportunity to borrow more money.

To begin with, let's figure out what banks are guided by when appointing their own. There are three key factors affecting rates. Further, based on these factors, we will consider how to reduce the interest rate on a loan and whether it is possible to do this.

Firstly, when issuing loans, a financial institution always bears certain risks of non-return of money, and the higher the bank assesses such a risk for a particular category of customers, the higher the interest it can offer them. The clearest example is express loans, which require a minimum of documents. A credit institution has minimal information about the borrower, therefore it puts risks in the rate. That is why fast loans always have the highest.

Second, the term of the loan. The longer the term, the higher the risk that the borrower will not repay the debt for a variety of reasons: illness, death, job loss, etc. Therefore, with terms of up to three years, the rate is usually lower than with a longer loan period.

Thirdly, a very important factor affecting the lending market as a whole is the key rate of the Bank of Russia (see the current data on the key rate of the Central Bank of Russia for today at the top of our website), which can change several times a year. There is no particular point in talking about it, since ordinary citizens cannot influence the decisions of the Central Bank. But lowering the risks for banks can reduce the rate on loans. Consider 7 ways.

How to reduce your loan rate

Naturally, every bank customer who wants to get a cash loan is looking for an opportunity to reduce the interest rate on the loan. This is either in the lending program itself, or in additional conditions offered by the bank. Everyone chooses what suits him best.

Let's look at the most important aspects that will help reduce the interest rate at the bank when concluding a loan agreement.

Extended documentation set

The more documents a potential borrower submits, the less doubts the bank will have about the reliability and solvency of the loan applicant. The risk of non-repayment is considered insignificant, and therefore the loan rate may be reduced. Such papers can be, for example, documents on the ownership of cars and other property, certificates of additional income, diplomas, etc.

Insurance

As already mentioned, banks include risks in the loan rate that are associated with various unforeseen circumstances. They can be reduced with the help of health, life, disability insurance. And although the client is not obliged to buy a policy from an insurance company when applying for a loan, many banks recommend that you also think about personal life insurance at the same time as concluding a loan agreement - this will help reduce the interest on the loan.

Guarantee

Again, to reduce the risk of non-payment, loan guarantors are involved, who document their agreement to service the loan if the main borrower evades its obligations. Some financial organizations limit the circle of people who can act as guarantors under the agreement, and the requirements for them are exactly the same as for the main borrowers.

If you decide to involve your relative, acquaintance or other individual to guarantee your loan, then explain to him in advance all the obligations in this capacity. Learn more about the liability of loan guarantors.

Positive credit standing

This reputation is evidenced by the content of the credit history. If a person has this content impeccable (or at least not spoiled by long missed payments), bankers have more confidence in such a client, being confident in his financial discipline and solvency, so they can reduce the interest rate on the loan for him.

If you have a problem with a credit reputation, then not only will your rate not be reduced, most likely the loan will simply not be approved. Therefore, we recommend reading how to fix a credit history.

Comprehensive banking services

Another method of reducing credit interest can be a comprehensive service. The task is to become a valuable client for bankers, closely interacting with a credit institution. So opening an account, issuing a card, participating in promotions of a financial institution (for example, “invite a friend”) - all this can turn into a profitable relationship between the borrower and the lender. Counting on further cooperation, the bank can issue funds on preferential terms for reducing interest on loans.

Promotions and special programs

To attract new customers, financial institutions often arrange various promotions for which they offer loans at lower rates or with lighter requirements. Therefore, it is recommended to follow the new offers of banks.

Also, many credit institutions develop special programs for certain categories of the population (military, pensioners, teachers). For example, loans for pensioners in the Russian Agricultural Bank.

We reveal the secrets of how to reduce the interest on the loan

The banking sector has finally begun to respond to the reduction of the key rate of the Central Bank. On February 13, Sberbank announced a reduction in interest on loans for corporate clients. Unfortunately, things will not come to ordinary citizens soon, so you should not count on low rates now. However, there are several ways to reduce the interest on the loan.

To begin with, it is worth understanding what the bank is guided by when assigning a particular interest rate. Can be calledthree main factors affecting creditth rate. First, by issuing credit funds, the bank always assumes somerisks of non-repayment of funds, and the higher the bank assesses such risks for a particular client, the higher the interest rate it will be able to offer him. The most striking example is express loans, which require a minimum package of documents. A credit institution has minimal information about the borrower, therefore, it includes its risks in the interest rate, so it is always the highest for fast loans.

Secondly, the size of the loan rate is affected byterm, which, again, is associated with risks for the bank. The longer the loan term, the greater the chances that the borrower will not repay the debt due to a number of reasons: illness, job loss, death, and many other unforeseen circumstances. Therefore, with terms up to 3 years, the interest rate is significantly lower than with a longer lending period.

And finally, the most important factors affecting the credit market as a whole arekey rate of the Central BankAndrateArefinancing. You can track changes in these indicators on the BANKDIRECT.PRO portal.

Of course, ordinary citizens cannot influence the decisions of the Central Bank in any way, but reducing risks for banks will help reduce the consumer loan rate. Let's consider several ways.

1. Extended package of documents

2. Insurance

3. Loan guarantor

4. Positive credit history

The most important information in such a document is information about the fulfillment of loan obligations by the borrower (how punctually such obligations were fulfilled, whether previous loans were always repaid on time and in full). If the client's credit history is impeccable (or at least not damaged by missed payments or loan evasion), the bank has more confidence in such a borrower, being confident in his solvency and financial discipline, and may lower the interest rate.

5. Comprehensive banking services

6. Bank shares

It is worth saying that many banks make special offers to certain groups of the population, for example, the military, teachers, pensioners.

7. Refinancing