Sberbank's consumer loan rates have declined for the first time in almost a year, other large banks are ready to follow his example. Analysts explain this solution to redundant liquidity in the banking sector and improving the economic situation.
Photo: Catherine Kuzmina / RBC
"Comprehensive decision"
From May 16, Sberbank reduces rates on consumer loans per 1.1-4.1 percentage points, announced the director of the Department of Retail Non-Translation Products of Sberbank Natalia Alymova during the conference call on Monday. Now the range of bets on secured loans is 14.9-22.9% (earlier 16.5-25.5%), on loans without collateral - 15.9-23.9% (earlier 17.5-26.5% ), said in the official report of the bank.
The economy as a whole is ready to reduce rates, said Sberbank. "Moreover, the decline in rates in the economy and in the financial markets is already going even at the constant key rate of the Central Bank. Sberbank responds to this tendency to a comprehensive solution, reducing rates not only on deposits, but also on loans, "is noted in the official report.
The last time Sberbank significantly reduced consumer loan rates in June 2015. Then he adjusted rates after a sharp increase in December 2014. In the fall of the 2014th, the range of loans for loans with the provision ranged from 16.5 to 24.5%, and on loans without collateral - from 17 to 25.5%, the representative of the press service of Sberbank Anastasia Vakhlamova clarified.
Reducing rates both on loans and deposits is a common trend that is more related to the transition to the transformation of liquidity in the banking sector, says Fitch Alexander Danilov analyst. With inflation, this is also connected, it notes, but indirectly. "With a decrease in inflation expectations, people have more inclined to save, and banks can afford to reduce deposit rates without losing investors," says Danilov. Taking into account the decline in bets on deposits, Sberbank may afford to reduce loan rates and at the same time keep margin, he adds. According to the expert, the rates can also reduce the rest of the banks, but probably to a lesser extent.
Analyst NRA Karina Artemieva adds that another factor of such a Sberbank solution is the waiting for a decrease in the key rate. "While it did not happen, but the statements of the monetary authorities are inclined to what sooner or later it will happen," she says.
In Sberbank, an increase in interest in consumer lending compared to last year. "Sberbank for the first quarter of 2016 issued consumer loans in the amount of 156 billion rubles, which is three times more than last year's similar indicator (52 billion rubles)," such data is given in a press release. According to Danilov, a sharp surge of lending, which may arise against the background of reducing rates, especially in the consumer segment, represents a threat, as it can dispersed inflation, which in turn is able to lead to the next round of rates growth. "So it is very important to keep the balance so that this does not happen," adds an analyst.
Not only Sberbank
Sberbank is not the only bank that reduces or planning to reduce loan rates. Five of the 15 surveyed RBC banks - Gazprombank, HMB Opening, Moscow credit bank, Alfa-Bank and Binbank are also preparing to lower bets. The Moscow Credit Bank will reduce the rates for 1-3 percentage points from May 23. "The minimum rate on consumer credit For our salary clients will be 16%, "the ICD press service said.
Gazprombank in the near future plans to reduce rates on consumer loans by 0.5 percentage points, as well as reduce mortgage rates for certain categories of borrowers, said the press service of the GPB.
Binbank is considering the possibility of reducing consumer loan rates during the second quarter of 2016, but will look at market conditions, they said in a bank. The "HMB Opening" is also being prepared to reduce the bets, but they refused the details. Alpha Bank said that a credit institution plans to reduce rates in the near future, taking into account the analysis of the market.
Some banks have reduced loan rates in April. Thus, Promsvyazbank lowered rates on all consumer lending programs on average by 2 percentage points, the press service is replied to the RBC request. Rosbank also reduced the rates on some products, and on some, on the contrary, raised.
In VTB24 and the VTB retail division (former Bank of Moscow) are ready to reduce rates for the population, only if the Bank of Russia decreases the key rate. This was said during the conference call, Deputy President - Chairman of the Board of VTB Herbert Moos.
In Rosselkhozbank, UniCreditbank and Raiffeisenbank did not respond to the RBC request.
The Central Bank is not in a hurry
Reducing the key rate in the present conditions would not lead to an increase in the real economy of Russia. Such an opinion during the discussion in the State Duma expressed the first deputy chairman of the Central Bank Dmitry Tulin.
"If we believed that our policy is overly tough and she kills the real sector and stifles the growth sprouts, we would probably choose a different path of movement of the key rate with a greater degree of probability. We believe that in this current, the decline in the key rate would not lead to an increase in the real economy, "said TULIN (quote on Interfax).
According to Tulina, the main thing is not to hurry with a decrease in the key rate.
"It seems to us that the stable bet of such (11%) is already normalization, we just want to ensure such a provision, smooth and gradual, which would meet the conditions of equilibrium and the harmony of economic interests and society," said the deputy chairman of the Central Bank (RIA quotation News").
On April 29, the Board of Directors of the Bank of Russia for the sixth time kept a key rate at the level of 11%. The Central Bank it is believed that the decline in interest rates in the economy will continue even with a constant key rate. The next meeting on monetary policy, where, perhaps, will be made on the key rate, the Central Bank will hold on June 10.
Senior analyst in the banking sector "Aton" Mikhail Ghalelin says that the decision of the banks affected both excess liquidity and positive expectations for inflation and the overall gradual improvement in the economic situation. Now banks need to stimulate lending, which is now shrinking, he notes.
The growth of ruble liquidity in the banking sector is directly related to the deficit of the federal budget that the Ministry of Finance finances from the Reserve Fund. "In 2015-2016, the Federal Treasury and the subjects of the Russian Federation became much more actively placing funds for deposits, which is one of the sources of liquidity inflow at the beginning of the calendar year," the materials prepared by the Association of Regional Banks "Russia" says. As analyst from Raiffezenbank Denis is rushed, this money mass goes to the banking sector. But last year, this money did not lead to the emergence of liquidity surplus, because banks used them to repay debts to the Central Bank, says the analyst.
Reduce rates - does not mean
However, reducing the loan rates, the banks are unlikely to approve much more loans, says analyst S & P Anastasia Turdyyev. In the past two years, there has been a decrease in consumer lending: in the conditions of an unstable macroeconomic situation, the banks themselves reduced their risk appetite, and borrowers have become less active, Turkiyev notes. "In the situation when the real incomes of the population are not growing, there is no expense of a significant rucy of lending," she summed up.
At the same time, banks celebrate the growth in demand for loans. So, in VTB24 in the first quarter of 2016, sales of cash loans increased seven times in comparison with the first quarter of 2015. In Gazprombank in 2016, the demand for loans has intensified twice as compared to the same period last year. This is a common trend for the consumer lending segment: according to the National Bureau of Credit Stories, in the first quarter of this year the number of loans issued to the population increased by 40% compared to the same period last year. At the same time, in comparison with the previous quarter, lending in the first quarter of 2016 decreased by 24.7%.
To begin with, it is worth understanding than the Bank is guided when a one or another interest rate is appointed. Can be calledthree main factors affecting loani bid. First, issuing credit funds, the bank always takes on somerisks of non-return of cash, and, the higher the Bank will address such risks for a particular client, the greater interest rate he can offer him. The most striking example can be called express loans, when the minimum packet of documents is required. The credit organization has minimal information about the borrower, so lays its risks in the interest rate, so the rapid loans it is always the highest.
Secondly, the amount of credit rates affectstimethat, again, is associated with risks for the bank. The more credit term, the stronger the chances are that the borrower will not return the debt due to a number of reasons: the disease, loss of work, death and many other unforeseen circumstances. Therefore, in terms of up to 3 years, the amount of interest rate is significantly lower than with a longer period of lending.
And finally, the most important factors affecting the loan market as a whole arekey rate CB andstackbut Refinancing..
Of course, simple citizens cannot affect the decisions of the Central Bank, but the reduction of risks for banks will help reduce the consumer loan rate. Consider several ways.
1. Advanced package of documents
The more the total number of documents provided by the potential borrower, the less doubt the bank in the trustiness and solvency of the future client arises. Risks of no return are considered as minor, in connection with which interest rate The loan can be significantly reduced. Such documents may be, for example, a certificate of ownership of real estate or car, documents on higher education, certificates of additional income, etc. The main task is to prove the bank that you are able to pay a loan on time.
2. Insurance
As mentioned above, banks are laid in the credit rate of risks associated with various unforeseen circumstances. They can be reduced by means of life, health and disability insurance. Despite the fact that the client is not obliged when receiving a loan to conclude an agreement with an insurance company, many banks are strongly recommended when concluding a loan agreement also conclude an insurance contract - this will help significantly reduce the loan rate.
3. Loan Guarantor
Again, to reduce the risk of non-payment, the presence of a guarantor on a loan, which documented consent to repay the loan in case the client will shy away from its obligations. It is necessary to know that many banks limit the circle of persons who can act as guarantors under the contract, and the requirements for them are usually the same as to the direct borrower.
4. Positive credit history
Each person who has enjoyed a credit product at least once in his life, is formed credit historywhere all the facts of the client's appeal are reflected in various banks for issuing a loan, as well as the result of consideration by applications by banks (refusal or approval after the passage of data verification).
The most important information in such a document is information about the fulfillment of credit obligations by the borrower (how punctually such obligations were carried out, is always on time and in full Previous loans were repaid). If the client has a credit history of impeccable (or at least not corrupted by passing payments or tax evasion), the Bank has a greater trust of such a borrower, being confident in its solvency and financial discipline, and can reduce interest rate.
5. Complex service in the bank
If you take a loan in a small credit organization, another step to a reduction in the credit rate can become comprehensive service. The goal is to become a valuable client for the Bank, which closely interacts with the credit institution. Therefore, the registration of the card, the opening of the account, active participation in the shares of the bank and especially the drive of new customers, such as friends or relatives - all this can turn into mutually beneficial relations between the borrower and the bank. Therefore, in the hope of further cooperation, the credit institution may issue money on more preferential terms.
6. Bank shares
To bring out new customers, banks often arrange shares, within which loans are offered at reduced rates or with simplified requirements. Therefore, it is necessary to follow new banking proposals. It is easiest to do this on our site - at the beginning of each month there is an overview of the best banking special offers.
It is worth saying that many banks make special offers to certain groups of the population, for example, military, teachers, retirees.
7. Refinancing
If you already have a loan, it can be refinanced, that is, take new Credit to pay off the old but on more favorable conditions. Refinancing can be carried out as a bank where you already have a loan and a third-party credit organization. However, in this case, it is necessary to study the conditions of a new loan very carefully, and it is really beneficial, otherwise the time and labor costs will be wasted, and the expected effect will not (for example, the loan rate will decrease insignificantly, and the cost of servicing the billing will increase significantly) .However, the reduction of these risks and the decline in interest on loans is possible.
And about how to do this, we will tell in this article.
What does the interest rate on the loan depend on?
Assigned by the Bank percentage depend on a number of factors:
- The risk that funds will not be returned to the borrower;
- Credit period: what it is more, the stronger the likelihood that the borrower will not be returned;
- and refinancing rate.
How to reduce risks for the bank?
In order to achieve a reduction in the loan interest rate, it is necessary to reduce the risks for the bank, which it imposes on himself, providing a loan borrower. Risk reduction is possible as follows:
- Documentation. This item implies that the more the borrower provides documents to the bank, the less the bank will doubt its solvency. Thus, it is important to show the bank here that the client is able to repay the loan on the designated time;
- Insurance. Loan rates can be reduced by concluding an insurance contract by issuing a bank loan;
- Guarantor. If the borrower has a guarantor who documented his consent to pay off the borrower's debt, it will also help reduce the risk of non-payment;
- Good credit history. Important here are the data that the borrower fully and on time performs its credit obligations. This information contributes to the fact that the Bank trusts the future client and reduces the percentage of the loan for him;
- Use of various bank services. When using a client of different banking services (opening a bill, mapping and other), a credit institution has the right to provide a borrower more favorable lending conditions.
Reduced interest on the loan before proceedings in court
In the case when the borrower needs to reduce the interest rate due to its faults, it should be used by other reduction methods. Before reaching the court for a decrease in interest on the loan, you should try to settle the case in a bank with which the borrower signed a loan agreement.
To settle a question in a bank One of the following ways is:
- To achieve refinancing - Get a new loan on more favorable terms in another bank. However, it is worth considering some nuances:
- It is not recommended to inform another bank about your financial difficulties;
- Do not sign contracts for providing services to such services as insurance and other. These services will increase the amount of your debt, which will adversely affect the benefit, due to which the refinancing procedure was carried out;
- In the new bank it is recommended to pay attention to the loan rate, the full amount of the loan, the calculation amount of interest and compare these amounts with those that are in your bank. It is necessary so that in the end you did not pay more percent than in the bank, which was before;
- Agree on restructuring. If the borrower initially issued a loan of no unfavorable conditions, and subsequently the bank reduced interest on the loan, then you can try to negotiate with the bank to reduce interest. As a rule, banks go for concessions, however, the rates are reduced by about 2%;
- Pay off debt aheadwhat is the most simple way Reduce the loan rate. However, the following should be remembered here:
- Credit can be paid off in the first month after registration of the contract and receiving funds by paying only days of using credit money;
- If the borrower decided to repay all the debt at the end of the first month of use of the loan, then he needs to inform the bank about this decision 30 days before the date of early repayment. After that, the Bank will make an accurate calculation within 5 days and will provide its borrower to pay.
And to achieve refinancing and restructuring will help you.
Decrease of interest on the loan in court
Not always the bank goes to meet its customers. The only thing that remains here is to reduce the amount of debt.
First of all, it is necessary to figure out what the borrower debt is:
- Main debt;
- Accrued, but unpaid interest;
- Penalties and other fines for overdue payments and failure to fulfill obligations under the Treaty;
- Other payments folded from commissions charged by the Bank for providing additional services.
The greatest figure in the debt of the borrower develops due to penalties and other fines. It is this digit that can be reduced in court.
Please note that the court reduces the amount of the penalty only if the borrower asks for himself (according to article 333 of the Civil Code of the Russian Federation).
Ask for a court that the borrower is necessary is one of the following ways. :
- During the trial, orally declare the desire to apply the article. 333 of the Civil Code of the Russian Federation. This application will be submitted to the Protocol;
- On the trial, one can make a written application that the court applies an article. 333 of the Civil Code of the Russian Federation. This statement will be complemented by materials of the case.
In more detail about reading in this article.
Application to reduce penalty in court
Application to reduce loan penalty So, from which components it consists application for reducing the penalty:
- Court name, address;
- Applicant's phoe;
- Case number;
- Circumstances of the case;
- The request to reduce the penalty, supported by reference to the norms of law;
- Date and signature.
Sample penalty decrease
Can the court refuse to reduce the loan penalty?
Sometimes borrowers really get a court failure in reducing the penalty. However, in most cases (this applies to consumer loans) the court reduces the amount of the penalty to 90% of the initial amount.
In the case of loans that are issued on business development, the situation is different. Borrowers need to prove the fact that the penalty is overestimated. This is a challenging task, because it is not so easy to provide the court weighing evidence.
Customers who wish to save are often interested in how to make interest on the loan smaller. It is really relevant, as interest rates are now modest you can not call.
What to do to reduce them?
There are several factors that will help save your money:
- Become a regular customer. Discover a small loan that you can quickly and without delay to pay. It is possible that further loans the bank will issue on more favorable terms,
- Perfect credit history. Each lender wants to deal with reliable and honest payers. Therefore, you deserved a good reputation, you will definitely go to the meeting. How to check it for free - tells.
- Stock. Often, banks introduce special programs in order to take client customers. What is this for you not reason to take advantage of favorable conditions? Shares from Sberbank are very popular, they are described in this article,
- Check in that jar that serves you. For example, where you get a scholarship, salary, pension. Usually companies offer smaller bets for those who have accounts there. For example, the proposals for salaries of Sberbank can be read in this article,
- Provide the bank as many documents as possible, testifying to your reliability. In addition to the passport, it can be useful: certificate of income, a copy of the workbook, a passport passport, INN, SNILS, a document on obtaining higher education, an extract from the bank about the availability of your contribution, etc.
- Attraction of others individuals as guarantors, some proposals are described;
- Real estate registration or vehicle As a collateral, the most favorable options are listed in this article.
If you already have a current loan, then reduce its rate is very difficult, but it is quite possible:
- You prove the jar in which you have a debt that you have now financial problems, so you do not have time to pay on time. Write an application application for restructuring, in which you describe in detail the reasons for the deterioration of your material situation, as well as the timing, during which you can improve it. You can ask for a decrease in the percentage, reduce the monthly payment or even a small delay. It is possible that the bank will make concessions and reduce the bid, but then it will increase it to compensate for the loss.
- You contact a third-party bank in order to issue refinancing service. She implies the issuance of you a new loan to pay off the old one. Its profitability is that you significantly reduce your interest rate, and you can also extend the credit period if you want to reduce the amount of payment. If you have been issued for collateral property, it moves to a new lender, it will be necessary to incur additional costs for its assessment and insurance. Where to turn - we tell in detail;
- Appeal to court instances. This is an extreme method to which it is worth to resort only in cases where the financial organization accrued you huge fines and penalties for delay that are disproportionate of your debt. How to do it correctly, told in this article.
As you can see there are not so few ways in order to reduce the interest rate and reduce the overall overpayment of the loan.
Interest rates on loans Banks are not simply installed, this figure directly depends on what is currently the key rate of the Central Bank of the Russian Federation. If it is high - credit organizations are forced to overestimate and their loan rates, and this, in turn, hits the pocket of ordinary borrowers who needed the loan now. But are there ways to reduce interest on the loan? We have prepared 5 legitimate ways, with the help of which you can reduce the interest rate of your loan.
Reduce the interest rate on the loan is quite possible - you only need to observe several conditions.
Method number 1: Restructuring
If the borrower becomes difficult to pay its loan, according to the established schedule, it can contact the bank, asking for its loan restructuring. Banks pretty willingly go to meet the borrower, so for them it is much more profitable to offer him a new payment schedule than never to see the money issued.
When restructuring, the borrower may be asked to extend the credit period, a decrease in the monthly contribution and even a decrease in the interest rate. True, it can only decrease by 1-2%, but it is better than nothing. The period for which the Bank agrees to reduce interest, is also not large - up to two years. After that, the interest rate will be the same as it was at the time of signing the contract.
Method No. 2: Refinancing
Refinancing is the design of a new loan on more favorable terms, in order to pay the old one. You can do this in the same credit organization as I betrayed you the first loan. For example, if you took your first leaving a year ago, and the interest rate on it at that time was 17%, and now it is 14%, you can ask for a refinancing bank. That is, having received a new loan, you, with the help of the funds issued, close the old, is not a loan for you, and you will pay a new, more lifting loan for you.
It should be borne in mind that the refinancing is worth it only when the difference between percentages ranges from 3 points. If the interest rate on a new loan differs from the old one by 1-2 points, to do refinancing the loan is inappropriate. Also, you should not make this procedure to those who have an annuity scheme for loan payments, and most of the debt has already been repaid. All percentages have already been paid to the bank, therefore it is already evolving more and nothing to decrease, and the remaining part of the debt is the body of the loan itself.
Method number 3: Maximum package of documents
Interest rate size for each borrower is defined individually. The more documents confirming their solvency will provide a client, the more confidence will cause a credit institution. Accordingly, the amount of interest rate can be changed in favor of the borrower, as the bank will not doubt that he will return the debt completely and on time. So it is not necessary to be reinsured using overpriced percent.
Therefore, when making a loan, it is desirable to have any papers confirming your positive financial status. It can be a workbook, and documents for an apartment, a house or a car, education diplomas, certificates of additional income, etc. Your goal is to make sure the bank is that you definitely pay your loan on time.
Method number 4: Good credit history
When a person draws out any loan, the file is started at the credit history bureau. Your behavior relative to the borrowed loan is fully displayed in this organization. All timely or overdue payments, redeemed loans and current debt - all this affects your reputation in the credit sphere. If you are a happy owner of a good credit history, you can count on the loyalty of the bank and, as a result, a decrease in the interest rate. Especially if you are already a customer of the chosen bank and repayed loans in a timely manner earlier.
A positive credit history is another plus for the borrower, as the bank will be confident in your solvency and may agree to reduce the amount of interest rate for you.
Method number 5: Guarantors and insurance
As mentioned earlier, the bank should be seen that the loan is issued to a person proven, and, in which case, there are guarantees to return their funds. These guarantees are guarantors, deposit and insurance.
If there is a security, that is, the guarantor or pledge, in case of non-payment of debt, the bank has a guarantee to receive money either from another person, or by selling the property laid down by the debtor. And in the presence of insurance, the debt will pay insurance Company. Therefore, many banks seek to force their customers to insure their lives, health and ability to work.
With the presence listed guarantees, the interest rate can be reduced. However, it should be remembered that a borrower will have to pay for the services of the insurance company during the entire lending period. Yes, and the guarantors find not easy - not everyone will agree to take responsibility to pay your duty in the event of an unforeseen situation. Requirements from banks to guarantors are also sufficiently overpriced - they also need evidence of solvency, and the more it will provide documents, the better.
Method No. 6: Promotions and Special Offers
Often, banks hold shares for their regular customers, to keep them. And also offer special conditions for new customers to lure them. If you are already a client of a credit institution in which they gathered to take a loan, check if any action acts on which the terms of the loan provided can be improved.
If you do not know what bank is better to take a new loan, do not hesitate to resemble various credit institutions and find out where you have interesting offers for new customers. Often, some groups of people are given pleasant conditions for loans, such groups include pensioners, military personnel, teachers, etc.
