Since now the credit products have become a lot on the market, people have the right to choose the one that most suits them. If we consider the currency not only our, but also foreign, then the growth of foreign currency is visible, in relation to the ruble.
Currently, loans in dollars are issued at a reduced interest rate. There are categories of citizens who receive income in US dollars. In order not to make money exchange, it is more convenient to have accounts also in dollar currency.
In times, when the currency rate was stable, it was more profitable to have loans in foreign currency. Currently, the course is unstable, so we cannot approve with an accuracy that such credit products will be profitable.
The design of the dollar loan offers tempting proposals. But despite this, the number of wishes to obtain this type of loan decreases. Contributions to the loan or through the Central Bank or through the creditor bank are calculated. The requirements required to obtain a loan in dollars are the age of the borrower, its work experience, certificate of income, and the availability of mortgage property.
If there is a sharp jump in dollar equivalent, then for borrowers who have such a loan may occur a difficult moment — because the amount of payments will increase.
If you can use the early repayment of the loan, in order to further avoid a big overpayment. You can convert your loan to the Russian currency. Also, in this situation, you can see the refinancing service — this will help reduce the amount of your monthly credit obligations.
There are types of insurance. If you want to take a loan in dollar currency, in order to avoid risks, we advise you to make insurance against currency risk. In this case, if a currency leap occurs, the difference will pay the insurance company. But, the insurance you pay, and, accordingly, the loan amount will cost you more.
When issuing a loan agreement, it is necessary to evaluate all risks, and possible jumps of currency. To avoid a big overpayment in the event of a currency jump, it is better to protect yourself and arrange an insurance contract. Carefully learn the contract before sign. We hope that our article was useful to you.