5 best consumer loans

5 best consumer loans

Bank name	Loan amount	Loan term	Interest rate
T-Bank	from 50,000 to 5 million RUB	from 1 year to 5 years	from 3.9% per annum
Sovcombank	from 30 thousand to 30 million RUB	from 12 to 180 months	from 14.9% per annum
Gazprombank	from 10,000 to 7 million rubles	from 13 to 60 months	from 4.9% per annum
Alfa-Bank	from 50 thousand to 15 million rubles	from 1 year to 10 years	from 13.5% per annum
VTB	from 100,000 to 40 million RUB	from 6 months to 7 years	from 5.9% per annum

 

T-Bank

• loan amount ranges from 50,000 to 5 million rubles;
• loan term—from 1 year to 5 years;
• interest rate starts from 3.9% per annum.

При подачи заявки на кредитование в Т-Банке Банке может выбрать сумму 5 миллионов рублей. Нужно учитывать, что такой большой заем возможен только при предоставлении в залог недвижимости и автомобиля. 

Т-Банк предъявляет к своим заемщикам следующие требования:

• hold citizenship of the Russian Federation;
• having permanent or temporary registration within Russia;
• age from 18 to 70 years by the date of full loan repayment.

The minimum document package includes only the passport of a citizen of the Russian Federation. However, the bank reserves the right to additionally request documents to confirm income and employment.

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Sovcombank

• loan amount — from 30 thousand to 30 million RUB;
• loan term — from 12 to 180 months;
• interest rate — from 14.9% per annum.

The minimum possible interest rate for the loan, subject to life and health insurance, is 14.9% per annum. The maximum overpayment can reach 32.5%.

Sovcombank sets the following requirements for its borrowers:

• are citizens of the Russian Federation;
• have permanent registration within the territory of Russia;
• aged 18 to 85 years old;
• have a work history at their current employer of at least 4 months for individuals.

The minimum document package includes:

• passport of a citizen of the Russian Federation.

Gazprombank

• loan amount — from 10 thousand to 7 million RUB;
• loan term — from 13 to 60 months;
• interest rate — from 4.9% per annum.

If you decline life and health insurance, the rate will increase by 7-15 percentage points depending on the loan amount.

Gazprombank sets the following requirements for its borrowers:

• are citizens of the Russian Federation;
• have permanent registration within the territory of Russia;
• aged 20 to 70 years old;
• have a work experience of at least 3 months at their current place of employment.

To apply for a loan at Gazprombank for an amount up to 500,000 rubles, you will only need to provide a Russian passport. For amounts from 500,000 to 2 million rubles, you will also need a document confirming employment. For 2 million and above — a document confirming income.

Alfa-Bank

• loan amount — from 50 thousand to 15 million RUB;
• loan term — from 1 year to 10 years;
• interest rate — from 13.5% per annum.

Loan funds are credited to the Alfa-Card debit card from Alfa-Bank. By paying with it, you can earn cashback on purchases, exchange it for rubles, and partially cover monthly loan payments.

Alfa-Bank sets the following requirements for its borrowers:

• are citizens of the Russian Federation;
• are at least 21 years old;
• have a work history of at least 1 year;
• have a steady post-tax income of at least 10,000 RUB per month.

To apply for an Alfa-Bank loan of up to 300,000 RUB, you will need to provide a Russian internal passport and a second document of your choice:

• a debit or credit card from any bank;
• a international passport;
• a driver's license;
• A TAX ID (INN);
• A INSURANCE NUMBER (SNILS);
• a compulsory health insurance (CHI) policy or card.

To get approval for 300,000 to 400,000 RUB, you will also need to provide documents confirming your income and employment. For amounts starting from 400,000 RUB, you also need to provide an additional document of your choice:

• a copy of the title for a vehicle you own;
• a copy of your international passport with passport control stamps confirming travel abroad within the past year;
• a copy of your voluntary medical insurance (VHI) policy;
• a copy of your work record book;
• a copy of your voluntary vehicle insurance (CASCO) policy;
• a bank account statement showing a balance exceeding 150,000 RUB.

VTB

• loan amount — from 100 thousand to 40 million RUB;
• loan term — from 6 months to 7 years;
• interest rate — from 5.9% per annum.

The interest rate at VTB, including insurance, ranges from 5.9% to 45.8% per annum. 

VTB sets the following requirements for its borrowers:

• hold citizenship of the Russian Federation;
• permanent registration in the region where the bank operates;
• age from 23 to 75 years;
• total work history of at least one year;
• official income of at least 10 thousand RUB per month.

When applying for an amount up to 300 thousand RUB or when authorizing via Gosuslugi, only a passport of a citizen of the Russian Federation will be required. For approval of 300 thousand to 1.5 million RUB, an income verification document will also be needed. To get a larger amount, an employment verification document will also be required.

Summary. Russia's most popular banks offer truly attractive lending terms for their clients. However, do not forget that the most favorable interest rates will only apply to payroll clients and subject to signing a financial protection agreement.