Making a payday loan for many people is considered the only way to get the necessary material support. A profitable financial transaction is the provision of a payday loan without confirmation of cash income. In this case, the bank accepts pledged real estate owned by customers. The received money can be spent at its discretion, without providing the lender with the reporting documentation. For the registration of the transaction is not required the presence of guarantors.
Terms of payday loan
A payday loan in the Savings Bank secured by real estate provides for several conditions:
- the issuance of money is carried out only in the domestic currency;
- the payday loan limit is not more than 60% of the value of the collateral objects;
- the term of the contract is up to 20 years;
- The insurance process complies with the rules established by the bank.
Annual interest charges start at 12%. The payday loan is issued to clients whose age ranges from 21 to 75 years. The borrower is obliged to document his official place of work and work experience. A payday loan secured by real estate is not issued to individual entrepreneurs and individuals who occupy management positions or are owners and members of farms.
You can invest the payday loan received in the Savings Bank into a telephone , a vehicle, in the purchase of large household appliances, payment for treatment or training in a university.
Documents required for payday loan processing
A client applying for a payday loan is required to provide the following documents to the bank:
- application form;
- certificate of income;
- copy of employment record.
The list of documents for mortgage property depends on its type. It is imperative that you need papers confirming the right to own a piece of land, an apartment, a residential house or a garage, as well as an act of property valuation, a certificate from the USRN and a technical passport of the object. The borrower must provide a certificate of absence of encumbrances, as well as the consent of the co-owners of the collateral, certified by a notary.
An application for a payday loan can be submitted remotely using the services of the official website of the banking company. Requests are processed from 2 to 14 days. Debt repayment is carried out monthly in equal shares. If desired, the payday loan amount may be paid prematurely without charging additional interest.