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What is a microloan? The main differences from conventional loan

Shkolazhizni.ru :.: Article 26.09.2019 at 21:00

Shkolazhizni.ru :.: Article

Every man in life there are situations when he urgently needed money to solve some issues. The ability to borrow from relatives or friends is not all, as different situations arise. Solution to financial problems — credit. But the procedure of obtaining a Bank loan difficult and prolonged, and the time to wait is not always the case. In this case, a great solution is the microloan. What is microloans People used to call any loan of money credit, although they have a classification and they are called by many names: mortgage loans, consumer loans, overdraft, credit cards, auto loans, etc. But most people are interested: what is a microloan and how to get it? Microloans are a type of loan in which the borrower transferred a small amount of money for a short period. This type of loans is regulated by Chapter 42 of the Civil code of the Russian Federation. The main feature of this type of lending is that you can get a small amount, generally from 1000 to 30000 roubles. The term of loan is from 1 to 60 days. In other words, it is money for a quick solution to urgent financial issues. A classic example of when you need a microloan. The man breaks down the mobile phone, without which any feels like without hands. While the salary is still two weeks. It turns out that the money to buy the new gadget will appear only after 14 days. In such a situation, a microloan is the simplest solution. It is issued on the same day, and immediately bought the phone. And since the wages paid the debt of the financial institution. Unlike a Bank loan from microloan Microloans and Bank loans have differences. And before placing of a loan, these differences must be taken into account. Credits directed on the decision of more global problems. The Bank made loans in large amounts at relatively low interest rates. This money is mainly earmarked for a large purchase, business investment or to solve pressing life issues (moving, illness, etc.). Payment on the loan is split into many payments, the amount of which depends on the loan period. Each month the borrower repays part of the debt, thereby repaying the loan. If he does not make the mandatory payments, banking institution charges a penalty and interest. If the loan is not returned, the debt begins to grow, the Bank appeals to collectors, and after all it may recover funds the debtor through the courts. One of the few chances to avoid this — if the borrower is bankrupt. But you need to go through a complicated procedure of bankruptcy. With microloans, the situation is a little different. The main purpose of micro-loans — solving immediate problems. The borrower is given a small sum of money for a short period of time and under very big percent. The money is returned in one payment, although the borrower on its own initiative, may repay the debt in several installments. Most importantly, to the date of repayment the loan was repaid. If this happens, the credit company has the same effect as in the case of a Bank loan: fines and penalties, appeal to collectors, a statement to the court. The results of such loans spetsializiruyutsya microfinance organization. A micro-credit company is a organization that has a state license to conduct its activities. Their main earnings are payments of borrowers on interest. The advantages and disadvantages of microloans in Russia Advantages: Draw, everyone can. MFIs satisfy more than 90% of applications, so the chance to get a loan any citizen, regardless of his level of income, KI, the availability of work and other factors.Simplified procedure of registration. The loan is made quickly and without bureaucratic delays. The borrower does not need to collect information sufficient to provide the passport number and mobile phone. This is useful in cases when money is needed urgently.MFIs offer different promotions and discounts. The borrower can find a loan company offering loans on different conditions.Extension. The extension provided by almost all microfinance institutions. The extension of the loan agreement means that the borrower pays only the interest on the loan, and fines and penalties are not charged him. Disadvantages: High fines. People who do not know everything about microloans naively believe that the lack of serious validation means that the company is not serious and the money can not return. But this is absolutely not true. In case of late payment, the debt will begin to grow quickly, and pay it will be even harder. There are cases when a person took a loan for 10 thousand rubles, while its debt has grown to 200 thousand rubles and more. Therefore, before placing the microloan you need to clearly understand that you will return. If you're uncertain, it is better to find another way to Finance.The inability to obtain large sums of money. A microloan means getting into debt small sum for a short period of time. To solve the major financial issues of the money, of course, is not enough. A high interest rate. The interest rate is higher than in banks. On average it ranges from 1% to 2.5% per day. However, microfinance institutions offer their clients different promotions. For example, some MFIs for regular customers there are discounts: the more credits they take, and repay, the less interest rate. Other credit card companies attract new customers the first interest-free loan. Bank fraudsters. Should be wary, because there was a lot of speculators, who under the guise of MFIs offer fabulously favorable credit terms. If you know that the conditions are too good, then most likely you are trying to cheat. Loans better to issue audited financial organisations. What are the types of microloans Microloans are different, depending on the way of making money. All kinds of microloans: On the mobile phone and the Money comes to the borrower on his cell phone. This is useful in cases when you need to make an urgent call, and money for replenishment no. The phone bill can be put from 100 to tens of thousands of rubles. But when you first apply for the sum over 1000 roubles do not count. On a Bank card online is the Most popular form of microloans. The money is sent to the borrower on the card of any Russian Bank. The map must be owned by the borrower. The convenience lies in the fact that such a loan not even need to leave your home. You can arrange the microloan on a card with 18 years online. Cash in office of Such microloans people prefer in cases when money is needed in cash. Such cases are becoming fewer but they still happen. The main disadvantage is that to obtain the money you need to visit the branch microfinance organization, which can be away from home. E-wallet In MFIs the money is transferred even to any e-wallet (Qiwi, Yandex-money, WebMoney and other). How to use the service of microloans microloans Purpose is to provide loan funds of different categories of citizens who cannot rely on a Bank loan, and also to simplify the procedure of obtaining the borrowed funds. Service of microloans allows for 30 minutes to obtain the loan and to obtain it in any way. Cooperate, MFIs with any kinds of people, be it working people, students or retirees. Because not all elderly people have the earnings on retirement, and money for drugs or other needs may suddenly need. If you want to make a microloan, you must understand that you will be able to return the money. If this is not done, the debt will quickly grow and become a heavy burden, to get rid of that extremely difficult. ...