Consumer lending today is considered the most affordable and easiest way to get money. A loan is issued for the purchase of goods or payment for certain services. For example, to buy household appliances, carrying out repairs in an apartment or house, to organize an anniversary, expensive treatment or a trip abroad.

A distinctive feature of consumer credit — a short term loan. It is usually issued for a year or two, and has a fixed interest rate.

Advantages of such lending for citizens:

ability to solve financial problems in a short time (for example, you need to move to another apartment or pay for your treatment in the hospital);
simplicity of design. The paperwork and signing of the contract usually takes up to 30 minutes;
loyal credit conditions, without guarantors;
there is a possibility of early repayment of the loan. Experts recommend to submit other documents that confirm the solvency and stable financial position: passport, driver’s license, civil servant’s document, Bank cards. All these documents will affect the interest rate. The above list of documents in different banks will be different. Therefore, before applying, specify what documents are required for registration of consumer credit. After signing the agreement with the Bank and submitting the documents, the loan approval process is underway. Banks give out consumer loans willingly, because such loans usually have a high interest rate. It can be 20-45% per year. The interest rate on targeted loans is lower. But, as noted by financiers, the cost of consumer credit usually depends on the client. If he submits documents that confirm that he can repay the loan on time, he has a job and a permanent place of residence, the rate may be low. In this case, it is desirable to provide a copy of your passport, which has a mark on the departure abroad. The chance to get a loan with a low interest rate increases and the provision of collateral. In addition, the collateral allows you to take a large amount of credit.

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