Credit to the private person

Credit to the private person

Credit to individuals (retail credit) - a loan issued to the population for personal needs, such as buying a car, home appliances, real estate, etc. The concept of "retail credit" is identical to the term "reteyl".


Also, this definition is close in meaning to the term consumer credit (any loan that the borrower takes the purpose to spend the funds on anything except for operations that can make a profit). It should be noted that many experts believe a variety of retail consumer credit, but there are other opinions, sometimes the value of consumer credit equates to retail.

Types of Credit to the private person

By lending targets:

The credit for consumer needs (consumer credit) - is lending to individuals for the purchase of necessary goods of small value (typically up to 100 thousand rubles). The loan of this type is characterized by high interest rates and low amounts are provided as a loan to the borrower. A variation of this banking product - commodity loan, which is issued for the purchase of certain goods, often in retail outlets employees of credit institutions.

Car loans - credit for purchasing a car, issued in the amount of from 70 to 100% of the value of the vehicle; usually purchased car acts as collateral for the loan. Also, a car loan - a kind of consumer credit, where the bank issues a target for a car loan. Under the loan agreement, the amount received may not be spent on anything else. Most often, it is transferred directly to the seller of the machine, in which you decide to purchase a vehicle.

Mortgage loans - loan for purchase of housing (apartment, house) in the secondary and the primary market. A variation of the mortgage - the mortgage consumer credit. This combination of features and mortgage credit and consumer credit. For example, some large banks provide loans for any purpose, including consumer, from 300 thousand. Rubles to 25 million rubles on the security of real estate owned by the borrower.

Purpose loan for consumer needs - the bank gives money to the borrower money for any purpose. A special kind of banking product - credit card, a nominal payment and settlement document in the form of personalized plastic cards issued by the issuing bank to its customers for cashless payment, purchase them on credit for goods and services in retail outlets.

There are other types of retail loans - a loan for education, recreation, for immediate needs, and so on..

By way of redemption:

The loan, repayable in installments (eg, mortgages);

The loan, repayable at the same time (for example, non-target rapid credit).

By ensuring the availability of сredit to the private person

Unsecured loans (for example, for emergency needs)

Credit, under which the bank requires collateral (car, apartment, and so on. D.).