How to refinance bad credit loans. Refinancing loans with bad credit history: a list of banks

Refinancing helps to avoid delinquency on the loan and maintain the good name of the borrower. But often, clients are faced with refusals to issue a loan for on-lending.

What affects the decision of the bank when applying for refinancing and what are the reasons for refusals to conclude contracts, we will describe further.

Grounds for refusal to refinance

Refinancing is the process by which a borrower receives a new loan, which is issued to cover existing loans. As a rule, a new loan has more favorable terms in terms of rate, payment amount and repayment period. Therefore, in many cases, the refinancing procedure is a justified step.

But situations when the borrower has prepared all the necessary documents, applied to the bank to apply, and as a result was refused in issuing money, happen quite often.

Common grounds for refusing to issue a loan can be the following reasons:

• Bad credit history;
• Delays on a refinanced loan;
• Providing false information;
• Non-compliance with bank requirements.

The first two options are the most common reasons among the total number of refusals to refinance. It is these two indicators that characterize the client as an unreliable borrower.

If the client has already taken loans and has not paid them on time or has open delays on them at all, the bank will not cooperate with him.

And what banks and under what conditions offer loan refinancing in St. Petersburg, you will find out

Is it possible to refinance a loan with a bad CI?

Credit history is a kind of litmus test for the reliability of a potential borrower. Most banks, especially large ones, do not work with clients who have a bad reputation as a borrower. However, some banking institutions, in order to attract customers, meet people with a bad credit history and offer refinancing programs, but on more stringent conditions. Usually the rate is a few percentage points higher, a deposit is required and insurance is required. In some cases, a solvent guarantor or the receipt of wages through a branch of this bank is required.

The collateral is a guarantee of the return of payments, because if payments are not received, the borrower risks losing it. Banks more often consider real estate objects as collateral: houses, apartments, less often they are the borrower's car. In order for the object to be accepted as collateral, it is necessary to confirm the ownership of the relevant documents.

Despite the fact that the conditions for refinancing are not very attractive, for many this is the only chance to do away with problem loans and add a plus to their credit history.

Banks ready to refinance a loan with a bad credit score

Some banks and MFIs agree to arrange refinancing for clients with a bad credit history and. Of course, we are not talking about the attractiveness of the terms of the new loan; here, rather, the emphasis is on parting with problem loans.

Consider the conditions of financial institutions that offer clients with a bad history to use the refinancing service:

Rosbank offers to conclude a new contract for on-lending:

• rate 17%,
• term 1-5 years,
• loan amount up to 500,000 rubles.

Of the documents required:

• certificate of income, if the requested amount is more than 400,000 rubles,
• a copy of the work book certified by the employer.

The bank has the right to request a statement of the refinanced loan and details for transferring funds. The amount of the monthly payment is set within the terms of the on-lending program. You can learn more about the program for refinancing loans from other banks at Rosbank

Tinkoff bank proposes to issue a card and block a problem loan with it, provided that the delay on it was one-time. The rate can reach 40% per annum, it will also be necessary to provide information about the source of income.

Tinkoff is loyal to its customers, and if the credit history in Tinkoff is positive, it is quite possible to get a card.

Having received a Tinkoff credit card, you can make a payment to the problem loan, and then repay the credit card through monthly payments.

Car pawnshop as a way to get a loan with a bad CI

If banks refuse to provide a loan for refinancing due to a bad history and late payments, an auto pawnshop may be an option to solve the problem with loans. When contacting a car pawnshop, credit history, even if it is bad, does not matter.

You can apply for a loan or PTS (the car remains in the use of the borrower). The loan amount can reach 50-70% of the estimated value of the car, while a bad credit history will not become an obstacle in obtaining funds. In a car pawnshop, you can choose a convenient payment scheme, and pay measuredly every month.

Of course, this is not pure refinancing, but for borrowers with bad credit history or delinquency on current payments, this is a way out of the current situation.

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In the consumer lending market, such a service as the refinancing of overdue loans is becoming increasingly popular. The proposal appeared against the background of the fact that the credit load of the population has noticeably increased and banks began to receive one delay after another. The issuance of a loan on favorable terms has allowed many borrowers to solve their financial problems and successfully pay off their debts.

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Conditions

They apply for refinancing mainly in the hope of reducing the rate used to calculate interest. But sometimes it is more important for the borrower to get a more convenient payment schedule.

Depending on the selected bank, one of the basic lending conditions may be as follows:

1. Absence or minimal violations of the loan agreement.
2. Availability of collateral.
3. Involvement of a co-borrower or guarantor.

If long delays have been made or there is no opportunity to provide a bank with collateral, then the chances of obtaining a second loan are noticeably falling.

Although a number of banks still agree to lend to such persons, but at an increased interest rate.

In the absence of other options, this often becomes a salvation for the family budget and a chance to save a credit history.

How to choose a bank?

The choice of a refinancing program depends on several factors. For example, restructuring of previously taken loans in the same bank where they were obtained may be provided.

Another option is to get a loan from another bank that provides better conditions (lower interest rate, longer loan term).

The principle of selection is usually built along one or more lines:

1. Calculation of the total overpayment.
2. Calculation of the amount of the monthly payment.

This takes into account the total term and date of repayment of the debt.

Decor

The method of obtaining a new loan depends on the option chosen. So, when applying to the same bank that acted as a creditor earlier, it is enough to submit an ordinary application indicating the purpose of obtaining a new loan.

Often, banks hold promotions with updates and the addition of new tariff plans that allow them to reduce debt repayment costs or get longer repayment periods.

When preference is given to another bank, when applying for refinancing, you will need to provide an extract on the amount of current debt and details for transferring funds used to repay it.

Banks that give a loan for refinancing with delays

Given the high competition in the consumer lending market, all major banks are trying to offer their potential customers the conditions due to which they will choose their services.

To date, you can get current offers from the following banks:

1. Sberbank of Russia.
2. VTB 24.
3. Rosselkhozbank.
4. Bank opening.
5. Bank of Moscow.
6. Alfa Bank.
7. Eastern Express Bank.
8. Russian Standard Bank.
9. Gazprombank.
10. Home Credit Bank.
11. Raiffeisenbank.
12. Rosbank.

Tariff plans are different, this allows you to quite flexibly select conditions in any situation.

For example, Sberbank of Russia offers the option “For refinancing external loans”. The interest rate in this case ranges from 17 to 20%, and the loan amount can reach from 15 thousand to 1 million rubles.

VTB 24 Bank provides a more favorable tariff plan - at the level of 15-17%, but it is mostly used to restructure loans issued by the bank itself, and not to refinance "foreign" loans.

Rosselkhozbank applies a single rate of 17% for all borrowers. In other institutions, you can find other conditions, but they are often noticeably more profitable than basic consumer lending.

Kinds

Despite the fact that the refinancing system is mainly aimed at attracting customers who have previously taken loans from other banks, they often resort to it to solve problems with debts that have arisen. For example, due to excessively large payments and reduced wages.

One of the common options for resolving this situation is to apply for a quick loan in one of the microfinance organizations to pay off current payments, then cover all debts with a new loan with a “normal” rate.

If the bank offers debt restructuring by re-issuing a loan for new ones, then borrowers get the opportunity to avoid applying to MFIs, where “quick loans” are usually issued at high interest rates.

Refinancing loans with open delinquencies is considered a rather risky type of loan issuance, only the high debt load of the population leaves banks with practically no choice, they even have to work with potential defaulters.

Often, in an attempt to independently find a way out of the current situation, borrowers spoil their credit history and only then apply to the bank for refinancing.

In this case, the credit manager will assess the degree of risk for the most likely reasons for delays. If they are objective (downsizing, illness, etc.), then the chances of getting a new loan are quite high.

In Moscow, there are many options for lending in the presence of delays, including open ones. You can quickly get a loan in one of the MFIs operating in each district of the capital. If it is possible to wait for the application to be considered at the bank, they turn to Sberbank of Russia, VTB24, Rosselkhozbank, etc.

It is worth noting that if there is a debt in Sberbank, obtaining a loan from other organizations may be difficult.

Due to the fact that this is one of the largest banks, the presence of delinquency records in the credit history can affect the approval of a new loan. It is better to apply for refinancing as early as possible.

What documents will be needed?

When applying for a loan aimed at repaying previously taken loans, it is required to provide a standard package of documents:

1. Passport of a citizen of the Russian Federation.
2. Permanent registration in the region where the bank's office is located.
3. A copy of the work book certified by the employer (and / or employment contract).

This list may vary depending on the bank. When a pledge is required for all provided property, title documents are required.

When applying for a loan at another bank, you may need to calculate the current debt and details for transferring the amount allocated for its repayment.

The current scale of interest rates of banks

Almost all banks that provide restructuring and refinancing services try to offer tariffs with a reduced rate.

On the one hand, this is aimed at attracting as many potential customers as possible, including from competitors.

On the other hand, in this way, the bank simplifies the repayment of debts, providing an increase in the chance of repayment of the loan along with accrued interest.

In most cases, a rate of 15-20% is applied, depending on the tariff and the availability of seasonal promotions, it may change (usually downwards).

A lower rate is not offered for any form of consumer lending.

Obtaining and servicing a loan

When applying for refinancing existing loans, it is worth considering some specifics of this form of loans. So, the borrower does not receive money in cash or on his own personal account.

They are immediately transferred to the account of the previous creditor to repay the debt and close previously issued loans.

A new loan is serviced in the same way as the previous one. Payments are made by any method convenient for the borrower - at the bank's cash desk, through terminals, by bank transfer.

As a rule, no additional fees are charged for maintaining an account, and there are no penalties for partial or full early repayment.

Maximum and minimum amount

When forming proposals for refinancing, banks are based on the fact that their potential clients may want to resort to this method, not only in the presence of large debts.

Often, the service is in demand as a form of obtaining a new loan with the simultaneous repayment of small balances of old loans.

For example, a borrower may close an old loan from one bank with a minimum amount borrowed from another institution, and then apply for a larger loan from the first institution.

The minimum amount is usually within 10,000 -30,000 rubles, while the maximum can reach very tangible sizes - 2-3 million rubles.

Terms of submission

By the time of approval, an application for a new loan is not much different from the usual one, the verification procedure takes from 1 day and depends on the conditions of the bank.

When pledging real estate and guarantors, additional time may be required to verify title documents for real estate or the credit history of the guarantor.

It should be borne in mind that the non-cash transfer method affects the closing date of the old loan (it may differ from the date of registration of the new loan by several days).

In this case, you will need to check the status of the credit account and, if necessary, add the required amount due to interest accrued over several days.

Complete and up-to-date information about is collected in the article located at the link above.

If you want to learn more about consumer loan insurance at Sberbank, then you should go to.

And to get the necessary information about mortgage insurance at Sberbank, you need to go to.

Repayment methods

Forms of repayment of payments are convenient for borrowers.

Typically, the following options are available to choose from:

• cash in the bank's cash desk;
• retail chains such as Euroset, Svyaznoy;
• payment systems (Rapida, Qiwi, etc.);
• payment terminals and ATMs;
• cashless transfer.

The borrower independently chooses the method, and it can be changed for each time.

Advantages and disadvantages

Of the most obvious advantages of refinancing overdue loans, one can note the possibility of obtaining a more convenient payment schedule.

At the same time, the amount of the monthly payment is usually significantly reduced, allowing you to avoid delays in the future, albeit due to a longer period of settlements with the bank.

- a type of banking service that provides the borrower with the opportunity to change the initially prescribed credit conditions to more favorable ones. A new loan is issued in order to obtain a lower interest rate and increase the term for payment payments.

To refinance a loan at another bank, you must comply with a number of requirements, both the old and the new lender. A bad credit history, namely, delays in payments at the bank where the loan was originally issued, can be the reason for refusal to refinance in many financial institutions. Which banks agree to refinance a loan, even with a bad credit history and late payment, we will consider further.

Is it possible to refinance a loan with a bad CI?

Banks care about their reputation, so they do not make deals with unscrupulous and irresponsible clients. A bad credit history indicates the unreliability of the borrower. (You can check debts in banks for free. Ways)

• The most common ways to arrange refinancing for a damaged CI and an overdue payment are the following options:
• borrow money from private lenders (they do not check credit history);
• arrange on-lending in banks that work with problem customers;
• Also, a way out of the situation is to apply to microfinance organizations that issue microloans using only one passport.

It should be understood that all of the above options involve obtaining a loan at a high interest rate, so it is important to rethink whether it makes sense to refinance on such terms.

It is possible to refinance a loan with a bad credit history at another bank, but the interest will be high, so the best option in this situation would be to restructure the debt from the current lender.

Conditions for approving an application for refinancing a loan at another bank

If you want to refinance a loan at another bank, it is important to understand that not always a borrower's bad credit history can be the main reason for refusal. Banks have many requirements for potential customers. Failure to meet any of these may result in the rejection of the online application.

The main conditions for registration of refinancing:

• Be a citizen of the Russian Federation;
• Correct filling of the application;
• Providing a package of documents and an agreement with the previous bank;
• Good credit history;
• Age Requirement: At least 21 years old and no more than 65 years old.

Grounds for refusal to refinance:

• Bad credit history;
• No CI. The bank will not be able to assess the solvency and liability of the client, therefore it may refuse to refinance the loan;
• Low income. The maximum loan payment amount is no more than 40-50% of the total salary;
• Work for an individual entrepreneur;
• Not indicating a landline phone in the application for refinancing a loan;
• A large number of existing loans (not all banks are ready to combine several loans during refinancing. But, for example, VTB 24 is ready to refinance 6 consumer loans at once, combining them into one. Details at the link);
• False information in the questionnaire;
• Insufficient age for refinancing.

The basis on which a credit history is considered bad is late payments or refusal at all. Information about non-regular repayment of debt to the bank is stored in the Credit Bureau.

What to do if you have a bad credit history?

The only way to arrange refinancing with a negative CI is to improve it. Make it possible. If the client has long delays in payment, experts recommend doing this:

• Pay off small loans first: microloans, credit card loans, or overdrafts. For the remaining delays, issue;
• You can also try to reduce the amount of the late fee by providing documents confirming the difficult financial situation;
• When collecting a debt in court, you can ask for a deferral / installment payment. Thus, the client will be able to repay the debt in installments according to a convenient schedule.
• Get a microloan. This type of loan is necessary for those who need to improve their CI in a short time. Also, borrowers who are denied even a small loan due to lack of information about income (informal employment or very low official salary) need to apply to microfinance organizations.

Where will they refuse to refinance?

The total debt of Russians on microcredits now exceeds 100 billion rubles and is growing rapidly. Unlike a bank loan, microloans in case of delay have an unpleasant property to grow like a snowball. In this regard, the popularity of their refinancing is growing.

The Agency for Refinancing Microloans notes that in the first half of 2017 alone, the demand for this service increased by more than a third, and the average amount of on-lending increased from 100,000 to 120,000 rubles. Let's talk about what refinancing of microloans is and how to use it.

History from life

“Foolishly, in July 2016, I took a microloan of 3,000 rubles for 14 days. Once I paid 2 tr., and then I lost my job, and the loan stuck. On November 30, I received a call from the MFI and offered to talk.

At the meeting, they showed a paper with a debt of 66 thousand. I almost fell off my chair, and they explained: every day of delay there were interest (2%), fines of 0.25%, and some other penalties.I said that I'm unemployed and I don't have that kind of money.

They answered that they understand my difficult situation and if I pay 40 thousand by the end of the week, the rest of the debt will be forgiven. With knowledge of the matter, they told where you can quickly get money (sell jewelry, beg from friends and acquaintances, take a loan for relatives, and so on). They threatened, of course. I didn’t think that because of the unreturned thousand they would disperse like that. ”

The drama of the situation is added by the fact that MFIs collect debts much more aggressively than banks. Therefore, if your reputation is dear to you, as well as the peace of mind of your family, try by any means to get rid of the debt, or better, the microloan itself. One of the best ways to do this is by refinancing.

How to refinance a microloan

Since microloans are issued, as a rule, without a serious check of the credit history and solvency of the borrower, financial institutions a priori consider MFO clients as a factor of increased risk. Hence certain restrictions on refinancing.

The easiest way to refinance a microloan is at an early stage, when you regularly pay off your debt. In this case (and if there were no delays before), you are the owner of a good credit history, and the products of many banks are available to you.

Yes, most often you can get not the most profitable loan, besides burdened with insurance, but compared to hundreds of percent per annum from MFIs, such conditions will seem like manna from heaven.

Another thing is if you have already made a delay, which is reflected in your credit history. In this case, the range of opportunities for you quickly narrows. Refinancing in another microfinance organization or a new loan in your own - that's all the options.

However, there is room for significant improvement. In most MFIs, each subsequent microloan is given at a more favorable percentage than the previous one. Even with a large debt, the likelihood of refinancing remains, especially if you do not have property.

It is more logical for a microfinance organization to get at least something from you than to futilely shake the borrower with help or sue him.

Three ways to refinance a microloan

There are three ways to get out of an impending or deepening debt hole.

Method #1: Refinancing a microloan at a bank

The most successful holders of MFI loans are refinanced in banks. Most often, we are not talking about refinancing in the full sense of the word, but about a new consumer loan, with which the bank client independently extinguishes a microloan.

As a rule, this happens at an early stage of debt formation. And since the average amount of a microloan in the Russian Federation does not exceed 30 thousand rubles, it is not so difficult to take a similar or slightly larger loan with a good credit history.

The most realistic option would be to apply for a credit card or get a loan without proof of income. There is an opinion that there are banks where they do not look at credit history at all, but this is not so. CIs may not be checked at MFIs (and there are fewer such organizations), and the bank always analyzes the client's credit history.

Another thing is that Tinkoff, Renaissance Credit or Home Credit Bank are much more loyal to the ratio of the borrower's income and the loan amount than, for example, Raiffeisenbank or VTB24, so getting a loan from these financial institutions will be easier than others.

Factors that increase the likelihood of refinancing a microloan in a bank:

• Absence of delinquencies on any loans in the credit history
• High official income
• Having liquid property (cars, real estate)
• Permanent residence in the region where the bank operates

Factors that reduce the likelihood of refinancing a microloan in a bank:

• Delays on any type of loan
• Lack of a permanent job and official income

As an example, let's take on-lending an amount of 30,000 rubles received in Zaimer under the most loyal program (0.63% per day) for a six-month consumer loan of 30,000 rubles from Renaissance Credit at a maximum interest rate of 26.5% per annum.

Method #2: Refinancing a microloan in another MFI

If banks refuse a loan, and the debt grows dangerously, you can try to get money from another microfinance organization - on bail.

Refinancing of microloans is carried out by specialized services. In particular, this is the Rusmicrofinance group with its portal Refinance.rf (Agency for the Refinancing of Microloans). There is a real scheme for on-lending: they are sent not to the borrower, but to the previous lender.

In return, a loan is provided on more favorable terms. If most MFIs issue short-term loans at 1.5-2% per day (up to 730% per annum), then the rates in the refinancing agency are as follows:

The loan broker NKB Group, operating in St. Petersburg and the Leningrad Region, has less clear refinancing conditions: the company declares an interest rate of 0.21% per day for an amount of 100,000 to 500,000 rubles with a loan term of up to 5 years.

History from life

“I didn’t believe until the last moment, but they really helped! I signed an agreement with Refinanceruy.rf for a year, a monthly payment of about 4 thousand rubles - compared to 8 thousand in Quick Money, this is just happiness. They transferred the required amount directly to the "DB" the next day after the conclusion of the contract, now I pay like a bank"

Of the minuses of this method of on-lending, we note the mandatory provision of a certificate of income, as well as many other documents. With an amount of more than 300,000 rubles, a guarantor is required, or even two.

It is more profitable to refinance microloans secured by real estate. For example, in Moscow and in the Crimea there is a credit consumer cooperative "Promoting the Development of Mutual Lending". This organization is also engaged in on-lending, and replenishes its ranks.

For example, by joining this CPC and paying from 600 to 2,000 rubles as a membership fee, you get the opportunity to refinance your loans in an MFI in the amount of up to 100,000 rubles at a rate of 48% per annum for up to 13 months.

A prerequisite for such an offer is a deposit. The calculator on the website shows: if you take 33 thousand rubles, in a year you will give back almost 45 thousand, the monthly fee will be 3460 rubles, the one-time payment will be 660 rubles.

History from life

“When the “wheel of interest” from three MFIs drove me to despair (I paid 20 thousand rubles of one percent, and they grew all the time), I decided to take a chance and get a big loan on normal terms, pledging an apartment. I read about banks that everything is reliable and conditions are normal with a pledge.

It turned out that this is not the case with MFIs. I called several companies, sent documents to five of them. Approval for the amount of 100 thousand received in two MFIs. But they refused to provide bail forms. They said that as soon as I come to sign, I will see it. It turned out that they offer sale and purchase agreements with a repurchase. That is, arrange an apartment for them and get money. The apartment costs 3 million, and for the sake of 100 thousand, I was not ready to do so.

Friends suggested a company that works with microloans secured by a pledge agreement. The rate turned out to be 5% per month, and it took three days to complete the entire process (including the registration of the pledge).

The third approach to refinancing microloans can be assessed on the example of the St. Petersburg company "Analytic Finance". There are two types of conditions here. If you combine credit cards, commodity or expensive ones in one package with microloans, then the interest rate will be from 25 to 27.5%, and the maximum term is 5 years.

But if you take money to refinance another loan, then the interest rate increases to 80% or more for a period of a week to a year. But your application will be approved even if you have a bad credit history. But the benefits will still be significant.

So, when refinancing a monthly and overdue for another month microloan of 30,000 rubles, taken under the standard for many MFIs 720% per annum, new conditions (80% per annum for 6 months) will overlap the original ones by almost 45,000 rubles:

It is clear that we did not take into account the insurance and commissions that the bank can take from the borrower, but even with them the difference will be approximately twofold.

Method # 3: On-lending a microloan in the same MFI

The on-lending service in the same MFI where the initial microloan was taken is, by and large, a clever way to capitalize on the difficulties of the borrower. This program is called "": if the payer is unable to make the next installment, he is allowed to pay the required minimum, and the return period is extended for a certain number of days (from 7 to 45 in different MFIs) depending on the rules of a particular microfinance organization and the type of client. For each day of “prolongation”, the borrower pays the usual interest for a microcredit.

Interestingly, for many MFIs, this service is turned on automatically if the client has not paid on time. This makes it possible to receive from the borrower much more of those marginal fines that will go when the “prolongation period” ends.

Let's say Turbo Loan has a daily commission of 2.17%. If a person took a microcredit of 10,000 rubles for a week, he will have to return 11,519 rubles. And with the “prolongation” service, after 21 days he will return 14,557 rubles already.

It makes sense to use such a “restructuring” of the loan if you are firmly confident in the receipt of personal funds during the microcredit extension period. Otherwise, the debt will only grow, and fines will be charged already on it.

How to refinance a microloan

The refinancing scheme is standard. All MFIs that refinance microcredits have an online application form, according to which a decision is made within 1 hour to 1 day. If everything is in order, you send scans of refinanced loan agreements to the new lender.

Then the MFI offers to choose the amount of the monthly payment (not arbitrarily, of course, but within the limits of existing programs). An agreement is signed, which indicates the target nature of the loan, the amount, conditions and details of the recipient of the money. Funds are transferred to the account of the previous creditor.

However, this does not happen everywhere: for example, in Analytic Finance you will receive money in your hands, after payment you will need confirmation of closing loans in other MFIs, otherwise the rate may increase from 80% per annum to 360%. Then the payment begins according to a new schedule - usually monthly or twice a month, not more often.

When refinancing a microloan at a bank, the procedure is similar to obtaining a new loan (yes, it is such in reality). You submit an application and documents, wait for approval, receive money, and repay the existing microloan yourself.

Refinancing microcredits: requirements for borrowers and necessary documents

Unlike the issuance of microloans, on-lending at a lower interest rate in large MFIs is impossible without providing a package of documents, sometimes quite voluminous. Requirements for clients are also quite stringent.

• The age of the borrower is from 21 years (up to 25 years - a guarantor older than this age is required) to 70 years (NKB allows up to 75 years). CPC "Promoting the Development of Mutual Lending" is ready to refinance loans to clients from 18 to 67 years old.
• Some MFIs require work experience of at least 3 months (from the borrower or guarantor).
• Citizenship of the Russian Federation and permanent registration on the territory of the Russian Federation are required (not in all MFIs. In Analytic Finance, for example, they also lend with a temporary residence permit).
• Confirmation of income and employment (not required in Refinance.rf and some other MFIs).
• At least one payment must be made on the loan to be refinanced.

The best banks for refinancing microloans

Since banks do not carry out classical refinancing of microloans, those that lend money without collateral and with a minimum of references, as well as banks where they look at not the best credit history, will be most suitable for on-lending.

Banking products with a minimum package of documents for replacing microloans

Bank's name	Interest rate and amount	Documents and conditions
Sberbank, unsecured consumer loan	From 30,000 to 3,000,000 rubles.	Passport, certificate 2-NDFL, minimum work experience of 3 months, permanent or temporary registration in the Russian Federation. For owners of a salary account with Sberbank, documents confirming employment and income are not required.
Tinkoff, Platinum credit card	Up to 300,000 rubles.	Passport scans, TIN. Income documents in electronic form can be provided to reduce the interest on the loan.
Renaissance Credit, a loan for urgent purposes	From 30,000 to 700,000 rubles.	Passport + second document of your choice (VU, international passport, registered bank card, etc.). To reduce the rate - confirmation of income, solvency (document for a car, real estate, etc.).
OTP Bank, cash loan	From 15 thousand rubles. up to 1 million rubles	Passport, . With a loan amount over 200 tr. copy of labor + certificate 2-personal income tax.
Alfa-bank, cash loan	From 50 thousand rubles. up to 1 million rubles 15,99% – 25,99%	Passport, the second document to choose from (VU, passport, TIN). For a lower rate: a 2-personal income tax certificate + a document confirming the income of your choice (copy of labor, document on a car, etc.)
Vostochny Bank, cash loan	from 30 thousand rubles up to 500 thousand rubles From 14.9% to 29.9%	Passport + a second document confirming your stable employment and income level (certificate 2-NDFL, or a certificate in the form of a bank).

History from life

“In the past, there was a 2-month delay on a loan, and although the loan was closed a long time ago, banks constantly refused to apply. I needed 50 thousand rubles - I had to take microloans in three MFIs. Just in case, three days later I applied to Tinkoff for a credit limit of 30 thousand - I thought I would close 2 microloans. An employee called, we had a good talk, rewrote the application and approved the card limit of 60 thousand! Closed all loans. But, of course, they have a service ... A week before the next payment, they start to gouge with SMS, so I try to pay early.

How to refinance a loan with bad credit

Interest rates on short-term loans are so high because this MFI insures itself against delays on the part of the clientele. Hence the announcements like “We give money even to the homeless”, found on the Web. Maybe they don’t give homeless people, but it’s not so difficult for a person with a damaged credit history to get money to refinance a microloan. If the delay is single, try applying for a Tinkoff card. Even if you are charged a rate of 40% per annum, it will be much better than the available 2% per day.

If the banks refuse - a direct road to MFIs that refinance microloans. Here, not a credit history will be of great importance, but the presence of a steady income and a place of work. If you have it, the chances of refinancing interest at 75-80 per annum increase.

Be wary of loan brokers who promise loans with any credit history. Especially with those who ask for money in advance.

History from life

“For God's sake, do not believe those who promise to help you get a loan with a bad credit history. I have already run into outright scammers twice. The scheme is as follows: you submit an application on the Internet, they call you back supposedly from the bank and say: the application is approved, drive up.

I’m flying with joy, on the way the “consultant” calls me three times, all the time from different numbers. It does not allow you to concentrate and think. When I approached the bank, he called back again and said that he had "convinced" the bank's administration, it was only necessary to "grease" the head of the security service. He, like, agrees for a modest amount, but he will only take money outside the bank.

I run to borrow 10 thousand from acquaintances, again I go to the bank. Some bearded man is waiting in front of the door, he introduces himself as the boss. Takes the money, goes into the building. I'm trying to call the "consultant" - the numbers are not active. At the bank, of course, no one had ever heard of a bearded head of security. With me, they also divorced a woman with a small child. Don't give any money up front!"

Is it possible to refinance a microloan with a delay?

Information about late payments on a loan or microloan is transmitted by different organizations to credit bureaus (one or several at once) with varying degrees of efficiency. There are banks and MFIs that report to the BKI about late payment in a day, there are those that wait 3-4 days to avoid taking into account “technical” delays - when the borrower, for good reason, did not pay the same day.

Accordingly, many other credit institutions quickly become aware of non-payment on a microloan. Hiding the fact of delay is pointless and even harmful. On the other hand, it is useful to know what criteria for delaying payment are considered significant for banks and MFIs. The "barrier" in front of hopes to get a loan on at least some decent conditions is closed with a one-time delay of 30 days.

Even some MFIs will be afraid to contact a person who has delayed payment of a loan for 90 days. The most severe case is open arrears on the date of filing a new application.

The list of MFIs that can be re-borrowed if the current overdue debt is pressing is not too long, but it is available.

5 MFIs with the most loyal attitude to credit history and delinquencies

MFI	Interest rate and amount	Conditions
Credit24	9000 - 30000 rubles. From 1.9% per day for 7-30 days.	A very bad credit history may be offered to be corrected first by taking and returning successively several minimal loans.
Seimer	1000 - 30000 rubles. From 0.63% to 2.2% per day for 7-30 days	For regular customers, the interest rate is 3 times lower than for first time customers. The service "Improvement of credit history" costs 1700 rubles.
eCabbage	100 - 30,000 rubles. From 1.7 to 2.1% per day for 7-30 days	If you have not used this service before, then the first loan will cost you 0%, subject to timely repayment.
CreditPlus (Credit Plus)	500 - 15000 rubles. 0.5 to 2.5% per day up to 30 days	There is an option “Loan Extension” during which you can extend the term of the loan if you do not have time to repay on time. You can also use bonuses under the Cashback program. For new clients, the first loan is at 0%.
MigCredit	3000 - 98 000 rubles. from 97.655% to 358.404% per annum, up to 48 weeks	A variety of credit programs, long credit terms. High approval rate, including for borrowers with bad credit history and informal work.

FAQ

What loans can be refinanced?

In MFIs and brokerage houses engaged in on-lending, up to five microloans can be refinanced, for each of which at least one payment has been made. This includes loans taken for the first time and microcredits of regular clients of MFIs.

On-lending of overdue loans is carried out in the format of obtaining new microcredits. At the same time, conditions do not significantly improve, but you get rid of overdue debt - this is good for your credit history.

Why refinance microloans at all?

Until March 2016, the accrual of interest on microcredit, including in case of delay, was not limited to anything, therefore, such cases as in Saratov, where in August 2015 collectors bricked up the debtor’s door with building foam, and at the same time the entrance were considered almost the norm into the elevator at her site. The woman has accumulated a microloan debt of 50 thousand rubles (the initial microloan was 12 thousand).

After the next amendments to the federal law on microfinance activities (No. 151-FZ) came into force on January 1, 2017, the maximum amount of interest, penalties and fines in case of delay is limited to twice the loan amount. That is, if you took 30 thousand rubles from the MFI, then without even paying a penny and if you are late in payments for a year, you will not owe more than 60,000 rubles. And yet the amounts remain very tangible - as in this example, where 90 thousand rubles are required to be returned.

You can avoid a significant overpayment if you stop the occurrence of debt in the bud - preferably even before the stage of the formation of a delay. Then you will save tens of thousands of rubles on interest, save the purity of your credit history and save your nerves, which is also important.

Real life example

“I worked in a cool company, in a modest position, but I was pleased with everything. Circumstances developed in such a way that I had to take three loans from MFIs in a row, on the third I could not repay 30 thousand in time, then re-borrowed, then another - and off we go. The total debt turned out to be 50 thousand. The collectors called me once and that's it, I thought they were lagging behind. And they, it turns out, began to work on my superiors.

They told me later that they called all the bosses three times a day and dripped on their ears - why are you keeping a scammer at your place. And in the end, the head of the department came and said: either solve your debt problems tomorrow, or the door is over there. I had to quit."

Is it true that MFIs approve almost all applications for microloans, but much less for refinancing?

In the statistics presented on the websites of microfinance organizations, the percentage of approval of applications ranges from 93 to 99%. It is difficult to vouch for the accuracy of these figures, but judging by the reviews, they are not too far from the truth. But the same cannot be said about re-crediting.

History from life

“My parents needed urgent repairs in their house, they issued several microloans in different MFIs, but they didn’t manage to repay them on time - both pensions and my salary went to buy a boiler for heating. Fines began to accumulate - every month they paid only them and interest (about 17 thousand), the loans themselves had only to be extended.

I applied to Refinance.rf, twice asked for a loan in my name to combine all the loans of my parents - they have such a service. I have a credit history with one delay of 5 days, a salary of 40 thousand. They didn’t give it – without explanation.”

Why don't banks offer to refinance microloans?

There are two factors behind the reluctance of banks to engage in on-lending to MFIs. First, the reason is the small amount of debt. Borrowers who are able to fulfill the conditions of banks (permanent income, length of service, registration, good credit history, and so on) cannot physically accumulate large debts in time. And a rare bank will give 20-30 thousand rubles - more often it starts with 50,000 rubles.

Debtors with large amounts of loans and fines are of no interest to banks, since they are problem customers. Keep in mind: if your credit history has a record of a microloan, even repaid on time, banks will analyze your solvency with more attention.

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One of the forms of refinancing the debts of troubled clients is the refinancing of loans with a bad credit history. This is a banking tool that helps to improve the performance of the loan portfolio, and gives borrowers the opportunity to alleviate the financial burden.

When applying for a loan, a bank client is quite often satisfied with everything (interest rate, repayment schedule for the loan body and interest accrued on it, loan term, etc.). Problems can start after the first few payments are made, or even earlier.

They are related:

• with the deterioration of the financial situation;
• disability;
• military service;
• business travel, etc.

With the first delays in payments Appropriate notes are entered into the borrower's credit history. The situation worsens if the bank's client does not pay or repays the debt with a large delay several times.

Attention! Even after a delay, banks often do not make appropriate entries in the credit history, but only the first five days! That is how much is given to the client in order to quickly solve their financial problems and make a mandatory payment.

On-lending methods

Refinancing with bad credit history and delinquencies is a popular practice abroad. In our country, the service is not widespread, but is gradually gaining momentum. Sometimes even the administration of a financial institution goes to meet its customers by offering more favorable refinancing terms.

In order not to accumulate fines and not worsen their credit history, borrowers are advised to contact the bank immediately after the deterioration of their financial situation to jointly search for a solution.

Often the following factors become the reason for refinancing:

1. Short term contract. In this case, you can try to prolong the contract by increasing the loan repayment period. In this case, the amount of the monthly payment and interest on it is significantly reduced.
2. High interest rate. In another bank, the loan rate can be much lower (sometimes the gap reaches 2-5%, which translates into several additional thousand for the borrower every month). In some credit institutions, there are no additional payments on which you can save.
3. Currency change. The decrease in the solvency of the population, as well as the fall of the ruble in the foreign exchange market, leads to a large number of delays, especially for loans in foreign currency. In order to somehow influence the situation in 2019, banks began to offer their customers to change the currency of obligations from euros or dollars to rubles.

Attention! You can also apply for refinancing to repay several loans in different banks at once. In this case, the borrower will remain indebted to only one financial institution, will not overpay on additional commissions and spend time on closing debts.

Refinancing with bad credit history: benefits of the program

The main advantage of such a program is the ability to close delinquencies and refinance on more favorable terms. It is also important that the client gets the opportunity to improve his credit history!

Important! Credit history is stored in specialized bureaus for about 15 years! Only some banks transfer information to the CBI with a note about the storage of history for 3-5 years.

The refinancing process allows you to:

• Avoid fines and penalties, the amount of which can be very impressive.
• Get better terms on repayment terms and interest rates.
• Combine multiple loan groups into one.
• Remove property from pledge (removal of encumbrance).

Important conditions for refinancing

Refinancing has more advantages than disadvantages, however, such a procedure also requires increased attention from the bank's client. All refinancing banks with bad credit history have several requirements for potential and current customers, but attention should be focused on such issues:

• Additional expenses. They are necessarily spelled out in the contract, which should be studied. Noteworthy are the points indicating the interest rate, additional fees for early repayment and monthly installments, for consideration of the application, assessment of the value of collateral, fees for opening and subsequent maintenance of the account, etc.
• borrower requirements. They are often overestimated, therefore, a loss of time is possible. If there are any shortcomings in the past, you should soberly assess your capabilities.
• Package of documents. To play it safe, the bank administration may require you to provide a large package of documents.

Attention! When refinancing, you can lose the right to a tax deduction for the reporting year. Therefore, it is recommended that you first receive your funds, and then start the procedure.

Which banks can be refinanced?

Only a few banks initiate such a procedure. Among them are not only large, but also small credit organizations.

Table. List of banks for refinancing bad credit loans

To find out the terms of refinancing and assess your chances, it is recommended to contact loan experts of banks. They will give a preliminary assessment of the case and describe the conditions.

Video: Refinancing bank loans