Most European countries have banned age discrimination in granting payday loans. For Russian banks, very young, only those who have crossed the threshold of majority, and quite elderly Russians, have always been classified as risk borrowers. The first refused to payday loan because of the lack of stable earnings, and the second – because of the risk of dying, increasing with age. The leading Russian bank decides to completely change this practice and launched a special payday loan product. – a payday loan with a guarantor for youth and retirees allows this category of Russians to carry out their plans on quite attractive terms.
A new product of the bank expands the capabilities of its customers and gives them new opportunities.
The content of the article:
- 1 Features of a payday loan with a guarantor
- 2 Terms and interest rates
- 3 Requirements for borrowers and guarantors
- 4 Required documents
- 5 How to get a payday loan with a guarantor
- 6 Conclusion
Features of the payday loan with Guarantor
The main feature of the proposal is that it is designed only for borrowers whose applications the bank had not previously considered. These are clients of two age groups:
- youth from 18 to 21 years;
- elderly people from 60 to 80 years old (at the time of debt repayment should be no more than 80 years old).
Previously, borrowed funds were provided to young people less than 21 years old, if they had a salary card.
The second feature is that credit funds are issued only with the involvement of the guarantor (one person is enough for such amounts). From May 2018, closed the payday loan program with a guarantee, explaining its decision not to demand a payday loan product among the masses. This offer remains valid only for owners of private farms.
From March 11, 2019, the program with the involvement of guarantors was launched again, but only for those citizens who previously could not expect to receive a payday loan. The proposed interest is valid for the period of the action until April 29 of this year.
Of the benefits of a payday loan with a guarantor for young people and retirees, launched by , it can be noted:
- The lack of requirements for personal insurance, although it would be quite reasonable due to the age of the applicants.
- Alternative earnings confirmation.
- Reduction of the rate for credit amounts in the range of up to 300 thousand rubles, the most popular among the population.
There are also disadvantages:
- bets are valid for the duration of the promotion;
- Registration is required, where the payday loan is issued.
We remind you that physical persons over 18 years old have the right to issue a payday loan without collateral if they are a salary customer of a bank. Until April 29th, there are promotional rates on this offer.
Conditions and interest rates
The credit program has the following conditions:
- borrowed funds are issued for personal consumption without specifying the purpose of their use;
- the payday loan is issued in rubles;
- the amount is from 30 thousand to 3 million rubles;
- payday loan duration – from 3 to 60 months (if the borrower has a temporary registration, the payday loan period is limited by its duration);
- mandatory security in the form of a guarantee of 1 physical person;
- co-borrowers are not allowed;
- There is no commission for issuing payday loan funds.
You may be interested in: VTB Consumer Credit
The size of the interest rate of a consumer payday loan with a guarantor, issued by to young people and retirees, depends on the size of the issued amount and the status of the borrower. The amount of interest is determined by the lender individually.
Requirements for borrowers and guarantors
As the bank positions this type of consumer credit as special, it makes special requests to borrowers:
- Age limits are limited – only for young people from 18 to 21 years old and for older people from 60 to 80 years old (the last figure is the maximum at the time of payday loan debt repayment).
- Requirements for work experience are determined by the status of the borrower. For those to whom salary and pension accruals are transferred to the card, the experience at the current workplace should not be less than 3 months, and 6 months for the rest (for them the total length of service is more than 1 year in the last 5 years). Working pensioners with a pension card must have a work experience of at least half a year in the previous 5 years.
Interest rates depend on the size of the payday loan amount and the availability of a sn card
Other standard requirements:
- be a citizen of the Russian Federation;
- have permanent or temporary registration on the territory of Russia.
If a young man or a pensioner wants to issue a consumer payday loan with a guarantor , then you need to know who can act in this capacity.
They can be any paying citizen who is able to document the existence of sufficient income. When issuing a payday loan, the guarantor should already be more than 21 years old, but less than 70 years old at the time of full payment of the debt amount. All other requirements for the guarantor are identical to those presented by the lender to the applicant for the payday loan.
You may be interested in: VTB Consumer Credit
In most cases, for young and old people, the role of guarantors is performed by their next of kin, but this can be anyone willing to take on financial obligations. He must have complete information on the payday loan in order to really assess the situation. After all, he will have to bear financial responsibility to the lender if the borrower fails to fulfill his obligations.
Both creditors and their guarantors submit certain documents to the bank branch.
If they belong to the category of salary customers of or receive a pension on its account, then it is enough to take one passport.
For all others (besides a passport), documents are required indicating that they have a job and information about the level of earnings:
- copies of pages of employment record or an extract from employment, a certificate from the employer about the position and working experience;
- 2-NDFL for the last six months or a certificate in the form of the bank.
How to get a payday loan with a guarantor
This program does not provide online submission of the application. An applicant for a payday loan must personally appear at the bank branch together with a guarantor and with a ready package of documents. As stated by the banking institution, the application will be considered from 2 minutes to 2 days, but warns that in some cases, the decision will take more time.
Three simple steps to get a payday loan If a positive response was adopted, the money is transferred to the credit card holder. If not, then the bank will issue a new plastic.
Lending programs of a leading Russian bank are in demand among Russians. The new offer allows to significantly expand its customer base. At the same time, he minimizes his risks as much as possible by attracting another person, who is more interesting to the bank in financial terms, to fulfill credit obligations. 02-04-2019