Pure Theory Consumer loans are any online bank card loans that are issued directly to individuals or households for the purpose of acquiring any consumer items. Such items of consumption can be both large and valuable objects of movable or immovable property (houses, apartments, cars, other self-propelled machinery), and consumer “trifles”: furniture, household appliances, kitchen appliances, clothing items, etc. Consumer credit can be issued:
- in the form of sale of a specific consumer product, with deferred payments thereon;
- in the form of a bank loan for consumer purposes.
In the everyday sense of the consumer loan , it is usually excluded from the real estate highly valuable and valuable movable property, such as housing and vehicles, and sometimes – art. As a rule, as a collateral for such a loan, and until the final payment of the loan actually continues to remain the property of the bank. This type of bank loan is commonly referred to as loans with pledged property (pledge).
Conventional (everyday) sense of consumer credit is associated
- with the purchase of specific consumer goods of relatively low value, which are not usually pledged on credit, and completely become the property of the buyer from the moment of their purchase;
- obtaining a non-purpose bank loan for a relatively small amount, a so-called “loan for any purpose”.
What is a consumer loan for ?
Bank loan to buy a specific consumer product . Of course, this is still the same bank loan that is issued by licensed banking institutions – network banks or financial companies (not to be confused with the purchase of goods by installments provided by the outlet itself). But such a bank loan is given to the consumer (buyer – the borrower), usually through the intermediary of a store that sells a particular product, and quite often – with the direct participation of a temporary banking office (workplace), equipped directly in this store.
Probably the only thing for which consumer loans are not practiced so far is the purchase of food (just not the amount of purchases). Consumer goods, for which the purchase is issued without a mortgage bank loan (through a store), can be anything. Depending on what the store or supermarket sells, and what costs a small amount of money up to several thousand or tens of thousands of dollars. These can be:
- building materials for construction and repair;
- household appliances;
- led – and inexpensive motor vehicles;
- wristwatches of famous brands;
- articles of clothing (usually fur products or expensive branded items);
- Musical Instruments;
- expensive souvenirs and art objects;
- holiday and travel permits;
- much more.
- Bank loan for any purpose . This kind of consumer credit is issued by banking institutions without the intermediary of trading shops. Therefore, this type of loans is called fairly consumer. After all, they can actually be spent for any purpose – both for the purchase of arbitrary items of consumption and for the solution of any of the tens or hundreds of possible tasks for which, as always, urgently needed money.
Where can I get consumer loans ?
A bank loan to buy a specific consumer product can usually be issued and obtained directly from the store or supermarket. The only condition is that such outlet must interact with some banks (to act as an intermediary to attract borrowers), and have temporary offices (workplaces) of these banks in their territory (retail space). It is also possible to arrange a consumer loan at the nearest bank branch of a cooperating bank, using an invoice for a product issued in a store.
Bank Consumer Loan “for any purpose” you can get:
- At branch offices of network banks providing services of this kind of consumer lending. In the banking department the consumer loan “for any purpose” can be obtained both in cash and by crediting the amount on an electronic card in the amount of up to 20 – 30 thousand dollars (in some banks – up to 50 thousand dollars). But – if the borrower has a good credit history and a positive credit rating, as well as documented proof of its solvency, with a constant monthly income of a certain amount. Therefore, the applicant will need certificates of income from work (tax, pension fund, etc.), or the presence of a deposit with the same bank, the amount of which overlaps the amount of consumer credit .
- Microfinance institutions (MFIs) specialize in providing consumer loans for any purpose. In MFIs, the amount of the loan that can be obtained is somewhat lower than with a network bank, up to 10 – 15 thousand USD (maximum up to 20 thousand USD). But the conditions for obtaining them are not as simple and accessible as possible:
- There is no need to go and visit offices (banking offices); MFI credit is issued online, directly from the home from the sofa, or from any other location of the client.
- Minimum requirements for the borrower: citizenship of Ukraine (confirmed by a passport and IDN card), attainment of age (18 years and older), presence of a permanent place of registration in the territory of Ukraine.
- No need to document the solvency of the client, as well as the presence of a high credit rating of BTI (positive credit history), or mortgage property, a deposit for the required amount.
- Simple and affordable technical requirements: availability of an electronic bank card of any Romeo Bank, availability of a contact mobile phone, availability of internet access (at the time of application).
- High speed of obtaining a consumer loan, crediting the amount of the credit card with the credit card just minutes after the MFI approval of the loan application (which review also lasts for a few minutes).
- Absence of any control over the purposeful spending of the issued loan.