Need money? Take a loan!

You can always take a loan against a pledge in any bank. In this case percent deduction works on a deposit and credit rates will be minimum and the point is that it's your own money. If there is an urgency of money need a deposit in a bank can help you. Making such a loan a borrower should pay a minimum sum of loan overpayment. However, money continues to be on a deposit, and a bank doesn't demand car or apartments for a loan.

Interest on a loan against a pledge is much less than on other categories of a credit. And if we take a credit interest rate and subtract a deposit interest rate we will have a very small sum of an overpayment in a whole affair. But it is necessary to take into consideration that such credits have limited terms. A loan can be given on a term not longer than a term of a depositary contract.

Many banks leave a small "backlash" (a few weeks ) i.e. if contribution term comes to an end in five months, and a loan can be given no more, than for four months. However banks aren't limited to these conditions, there is one more thing. If a future borrower has a long-term deposit, he cannot make a long-term loan in this case, because of a maximum term of a credit cannot be exceed over two years according to the approved requirements.

A maximum credit sum is very limited in this case too. If deposit and credit currency coincide, a loan sum cannot be exceeded over 95 % from a deposit sum. In case if currencies are different a credit cannot be exceeded over 80 % from a deposit sum. It is very important to remember that a loan is better to make in one currency with a deposit. Then credit conditions will be favourable, and interest rate will be less, and a maximum size of a loan will be higher.

The most important advantage of such kind of crediting is a minimum of red tape at loan registration. A loan which is given under a deposit sum is the most simple from the point of view of official registration of papers. Registration of a similar loan is made without additional coordination. It is not necessary to collect a heap of inquiries and to spend own personal time. It will be necessary to make a contract of an urgent bank contribution only.

And one more advantage of such a loan is that it can be issued against another's pledge. For this purpose a written approval of a owner of a depositary contribution is necessary. However, a special package of documents for a loan against a legal person's pledge registration  is required: a copy of a report from a higher operating body of an enterprise which will contain founders consent about transfer of property rights to a given deposit.

It will be also necessary to provide documents which confirm powers of persons who have signed a report and copies of all constituent documents. Business owners turn to such crediting schemes very often but only in case of emergency. A contrary variant is also known when a loan against an individual's pledge is required by an enterprise but it is occurs in rare instances.

15 July 2011
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08 November 2016
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