The loan amount a bank can approve for its customer depends on many parameters, including the type of loan and the buyer’s capabilities. If we are talking about a secured loan, its amount will not exceed 80% of the collateral value. explained RT experts from the financial expert center of Roskachestvo.
Parameters such as the customer’s debt level, place of business, income and the rules in force at a particular bank are important when applying for an unsecured loan. Experts warn that when a loan is granted with collateral, you cannot count on an amount commensurate with its value.
Roskachestvo experts emphasized that “the loan size is unlikely to exceed 50-80% of the collateral value.”
Experts say it would be best to pay off other debts in advance to get loan approval from a bank. You can also think in advance what kind of collateral will be offered to the bank or find a reliable guarantor.
Let us remind that the Central Bank of the Russian Federation entry More severe restrictions on granting loans to borrowers with high debt burdens. Thus, banks will not be able to provide loans with a lending limit to Russians whose debt burden ratio (PDI) is over 80 percent. This is expected to help banks and microfinance institutions reduce their risks as well as limit risks to borrowers.
Russians before saidHow to repay a consumer loan profitably?
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Source: Gazeta
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