The consumer credit.

The consumer credit is the credit which is given to physical persons for purchasing of the goods of personal consumption. As a rule, it is given by the trading companies, banks and specialized credit - financial institutions for purchasing of the goods and services with the installments of payment.

Usually by the means of such a credit the goods of long using porpuses are realized. The consumer credit can be with the mortgage (with guarantors) and without the mortgage (without guarantors). The Proceeds of credit that are given to the borrower can be spent as under own discretion (the no-purpose credit),or on definite purposes (the target credit).

Conditionally consumer credits can be divided to two kinds:

• - For the current purposes;
  
• -For the expenses of capital character.

The sum of the credit, as a rule, is defined independently by each bank . However, a common rule exists - that is a monthly payment (repayment of a body of the credit + percent) cannot be higher than 35-40 % of the cumulative borrower income. This kind of the credit is given for purchasing of furniture, home appliances, on payment of tourist permits cost, payment of repair, treatment, etc.

The duration of thios credit goes from 6 months till 5 years. The sums differ from 5.000 to 400.000 roubles, in some banks - up to 1.000.000 roubles. It is given in roubles, dollars or euro.

The interest rate for this type of credits is usually fixed and in different banks makes from 18 up to 26 % of annual - for rouble credits and of 14-16 % - for currency. Repayment of credits is traditionally made on annua system. We shall remind, that annua system of payments means, that under the loan payments are carried out by equal shares during the time of the credit repayment.

In a number of banks exists a commission of the credit delivery that can be differ from 1 to 3%.

The consumer credit can be given out without guarantors and the mortgage or with guarantors (there can be 2 or 1 of them) and with the mortgage.

As a rule, there are some criteria to the credit borrower:

• - Age from 18 (in some banks - from 21) up to 55 (in some banks - 70) years;
  
• - working not less 3 months on last place of work.

The sum of the credit depends on the sum of the monthly income which should be confirmed by the certificate in the free form or (it is more preferable) the certificate 2 of a tax of the physical person's income.

The guarantors persons can be those to which can be applied the same ctriretia as to the borrower.

As the mortgage can be used:

• - The real estate (a house, a summer residence, an apartment);
  
• - The car;
  
• - Gold, deposits, securities.

Usual set of documents which is required from the borrower is:

• - The passport;
  
• - The certificate of an INN (not everywhere);
  
• - The second document (the identity card, the driver's license, the passport for travelling abroad, etc.);
  
• - The certificate of confirmation of incomes from a place of work or the certificate 2 of a tax of the physical person's income ( not everywhere).

Practically all the banks pay attention to the time that borrower works on last place. It is desirable that this term is not less than 3-6 months. Some banks put a condition that the common seniority of the client should not be less than three years. The potential borrower should have a registration in the city where he is going to take the credit, and he also should have a stationary phone in an apartment (not always).

To the bank the comprehensible wage level depends on the sum of the credit. There is a limit of 350-400 dollars if the borrower is going to take some thousand dollars. If it is a question of thousands the minimum level of incomes will be individually established. Besides the standard requirements, each bank can have its additional conditions.

Applications for the consumer credit are examined by the banks from 30 minutes till 7 working days. The money can be given out in two ways:

• - The borrower has a the special invoice on which the sum of the credit is transferred, and the monthly payments are removed from this invoice;
  
• - The borrower is given the plastic card with one of the international payment systems.The sum of the credit is already enlisted on it.

A number of banks provides us with an opportunity of applicating for the credit and receiving the answer via Internet.