What is credit refinancing and in what cases it is necessary
Suppose you have a loan, decorated several years ago. All these years, you regularly contributed monthly payments, not particularly thinking how much you are overpaying the bank. The meaning is that now the conditions for the provision of loans have become much more pleasant than just a year ago. Interest rates on loans are gradually decreasing, the reasons for this – the slowdown in inflation and the decline in the key rate of the Central Bank.
According to the Central Bank of the our Federation, only for the third quarter of 2016, 58% of banks were reported to reduce consumer loans rates, ripped down rates and 90% of banks specializing in car loans. According to preliminary assessment, such a tendency is relevant in 2017. Already in the first quarter of this year, banks significantly softened the terms of credit policies in relation to the population, especially this is noticeable by the example of mortgage lending.
Now the same, but easier: interest rates have recently become below. It turns out, every year you overpay more and more, because they made a loan you are still at the old rate, which was higher than now.
Logical question: Is it possible to do something to pay the balance of the loan taking into account the changed situation in the market? Of course. Refinancing allows you to transform the current loan on more favorable terms. In an extremely simplified form, everything looks like this: you take money from a new bank to repay the existing debt in the old. The interest rate will be lower, respectively, the monthly payment will decrease.
What loans can refinance
Rosbank offers refinancing of any loans that the average person can take advantage of. These are targeted loans, such as a mortgage or car loan, and non-target – consumer loans, credit cards and overdrafts.
It is not necessary for the whole amount that you lend from the bank went to repay a loan. You can take a little more and spend the rest at your discretion. I never know, suddenly you have any expenses that do not fit into the budget, but I don’t want to make a separate loan for this.
In Rosbank, you can take a loan for a period of 12 to 60 months in a step in one month. The interest rate depends on the amount you need. For loans less than 500,000 dollars, it will be from 13% per annum, for the amounts of $ 500,000 and higher – from 12% per annum. The upper threshold of the bet is only 17%, and the amount of the loan provided is from 50,000 to 1,000,000 dollars. Rosbank will not take the commission for issuing, design and maintenance of the loan. You can choose the date of its repayment or pay the debt ahead of time.
Refinancing works in the event that you have several loans decorated in different banks. It is more profitable to transfer them to "Rosbank" and return debt to him – in this case, the loan is issued at a single rate. Another plus: no need to track the dates and amounts of payments for each loan, because all payments are now combined into one.
What is needed for this
The first and most importantly: you must be a citizen of the our Federation and have registration in the region where there is a Rosbank office. To begin with, you will need a passport, and after confirmation of a positive solution – a loan agreement (or contracts, if you want to combine several loans in one) and the schedule of payments on the existing loan or loans that you want to refinance.
To submit an application for refinancing a loan in Rosbank, you can call the contact center by number 8-800-200-54-34, contact the office of the bank with the package of the required documents or fill out a small profile on the site.
Refinancing loan is a good way to reduce monthly payments and put in order to their schedule. If you pay the debt to one bank, and not a few at the same time, where the likelihood of overdue payment or make a mistake with its sum. For those who seek an ideal order in personal finances, this is a very convenient option.