A cash loan is money borrowed from the Bank for any needs, whether it is payment for training or purchase of a new smartphone. Today, banks offer a variety of cash loans, which differ in http://www.cashadvance-loans.net/texas/cash-advance-houston-tx/ terms of lending. Among the most important differences are 4 parameters:
The terms of the loan. The most important characteristics are the loan term and interest rate. As a rule, each loan offer specifies the minimum and maximum possible loan rate. The final percentage is determined individually for each borrower and depends on the level of solvency. The loan can be obtained for a period of 6 months to 5 years.
The loan amount is the amount of money you want to borrow from the Bank. The size of the loan depends on your needs and can amount to several thousand or millions.
Requirements for the borrower. Banks approve loans to Russian citizens who are in working age from 21 to 60-65 years (at the time of repayment). In this case, the borrower must be registered in the region of the Bank. Another important condition is the presence of a permanent place of work, the length of service which should be at least 3 months (in some banks at least 6). A stable monthly income should be enough to pay off the loan and for life. If the loan amount is large, the Bank may ask for collateral or a guarantor. With a negative credit history, the probability of getting a cash loan is minimal.
Documentation. As a rule, when applying for a loan, the following documents are required: passport and income statement 2-pit. As additional documents, you can provide a driver’s license, passport, military card, tin certificate, etc.
