How to get a loan with a temporary registration

The credit institution, issuing a loan to the borrower, expects to return debt in full, and with a lot of interest for the use of the loan. Making a loan, banks consider customer solvency, credit history, as well as many other factors that can affect the conscientious loan payment. One of these factors is permanent registration. But the presence of temporary registration does not exclude the opportunity to get a loan.

Not all credit organizations will agree to make a loan to the borrower without local registration. The presence of registration can reduce the risk of possible problems with loan. A loan borrower with temporary registration is issued for a period while its registration is valid. Usually no more than 5 years. The bank may establish a loan repayment period until the end of the time registration.

For borrowers with temporary registration, banks impose increased requirements. It will be necessary to submit more documents and references. The borrower must be a citizen of the Russian Federation in obligatory. The presence of a deposit and 1-2 guarantors who have permanent local registration and capable of documenting their solvency will significantly increase the chances of approving the loan to the client with a temporary registration. It is preferable to seek a loan to the bank whose branch is in the city of permanent registration of the borrower.

If the borrower wants to borrow a small amount of money, it is easier to make a credit card. When making a credit card, the registration does not play a big role.

A big advantage is the presence of permanent operation in the city where the client takes a loan. In this case, it will be necessary to submit to the bank a certificate from the place of work indicating wages. The borrower should work at this place for at least 6 months. If there is a permanent job, the Bank will issue a loan, even with temporary registration.

Good credit history plays an important role in considering documents for loan design. If the client has already taken a loan in a bank, no problems have arisen with his payment, the bank will have more confidence in such a client. Well, if a positive credit history at the borrower is in that bank, where he appeals at the moment for the loan.

The borrower with temporary registration primarily should be applied to banks with many branches throughout Russia. These are banks such as: Sberbank, VTB 24, Gazprombank, Rosselkhozbank, Russian Standard, Alpha Bank, East Express Bank, Home Credit.

Addressing a loan to the bank, it is worth considering several credit institutions to choose the most preferred credit program. The borrower should be ready for the fact that a loan with a temporary registration is most likely to be issued with an increased interest rate. If the borrower plans to pay off a loan ahead of schedule, it should be verified that the contract is prescribed on early repayment without penalties.