What is a microloan and how you can get
Microcredit, also known as microloan is a small sum of money that you can get the Bank loan. Its key difference from a conventional loan is the amount of the loan which often does not exceed 20,000 rubles., though % rate on this loan is very high and you need to repay it in the shortest possible time. Its advantage is that if you suddenly needed a small amount of money in the shortest possible time, a loan is a very viable option. To register, you need minimum documents, often it is enough to show only a passport.
% interest rates on microloans
today micro-loans are issued practically in all banks of the Russian Federation, therefore, promptly to execute and to get a loan today is very easy. Really need to pay attention to the fact that, often, the % rate here is not on an annual and on a monthly basis, and sometimes even in days. A closer look at the interest rates of different banks and find naibolee best offer on the web site: . The most common "daily" rate does not exceed 2 %, however, if you borrow 20,000 rubles, you will need to evaluate your options, since this is equivalent to somewhere 730 % per annum, which, in turn, very much. But, very rarely take microloans for the long term. Often they take 15 days to endure to pay, unfortunately, in Russia it is far not a rarity. As a result, the amount of interest does not seem very large and is approaching the amount of interest on a conventional loan.the
What are the pitfalls
As previously mentioned, to take a micro loan today can be anywhere. But we must remember that before you take money, you first need to check the trustworthiness of a micro-Finance organization that you have selected. The thing is that according to the Russian legislation, unlike conventional large banks, such an organization must not disclose the cost of the full % rate on the loan. It is therefore necessarily need to know all the conditions, so then not to get into a very difficult situation.
Choosing the company make sure that its financial policy is completely transparent, also very carefully read the contract on granting of the credit and if something you do not understand or some place in the contract will cause you to have doubts - feel free to ask the consultant.
If you look on the other hand, microfinance institutions are at risk not less, because it is very difficult without income, without guarantors, only one passport to assess human solvency. It is this risk justified high % rates on microloans microfinance institutions thus cover their own risks in case if some of their clients will not be able to conduct payment in time.
Translated by "Yandex.Translate": translate.yandex.ru.