Many of us are familiar with such topics as loan design. Credit products currently became a lot. These are credit cards, and buying real estate in installments, mortgage, consumer loans, microfinance organizations. The system in all these products is similar, but still differs. Let us consider more consumer loans in more detail, and how they affect the national economy.
This is a loan product, or a cash loan from the bank, to purchase goods with gradual payments, or the goods of necessary consumption. If a credit card is a specific limit that you can use and pay monthly payments with interest, the consumer loan differs from credit cards.
There are several types of consumer loans.
To begin with, you will need to decide. For what purposes you need this type of loan — to buy something concrete, or you have not yet decided what it is. You will take a loan for yourself, or you will have a guarantor. You will be credited to the deposit of property, or not.
Depending on your choice, banks provide several species — this
Two more subtype consumer loans
In the overwhelming majority of cases, consumer loans are not issued in cash equivalent to hand. In other words, you will have the opportunity to purchase goods (or several), but for cashless payments.
Recently, in Russia, lending is gaining quite high turnover. More and more citizens are drawn to banks.
Is it possible to say that lending growth successfully affects economic development?
We believe that you can.
If all the money taken from banks in debt would be returned on time, this would have a positive effect on the dynamics of the development of banks themselves. In the meantime, the debt among Russians grow. According to the average data, the payment of loans takes place by an average of 40 to 60% of wages. It seems to us that if interest rates on consumer loans decreased, more citizens appeared to this type of lending.
We hope that this information allowed us to diversify your horizons.