Installment card for mothers on maternity leave – best bank offers

Until recently, lending institutions were skeptical of citizens on maternity leave to care for a child. Even today, there are certain difficulties for women on maternity leave to obtain an installment card from banks. However, with the emergence of a new banking product, the problem has been solved, and today installment cards for women on maternity leave are available at a number of banks.

Sravnim24 editorial team
Daria Kreslova

Contents

How the degree of banks' trust in women on maternity leave is determined

As a rule, women on maternity leave receive a salary from their employer in one way or another, even if through the social insurance fund as a childcare allowance. Issuing banks provide conditions for purchasing goods without paying interest on installment cards, where within 1-12 months you can return the money for the purchase by topping up the card account with your own funds. Thus, today an installment card for women on maternity leave can be issued at any lending institution that provides terms for this banking product.

What is needed to get an installment card for women on maternity leave

The financial services matching service invites citizens on maternity leave to care for children to apply online for an installment card for women on maternity leave. We have gathered the most up-to-date offers where banks can approve the required credit limit for you to purchase goods in installments from 1 to 18 months.

To submit an application and get approval from a lending institution, pay attention to the following recommendations:

Provide your personal data without errors and in accordance with the information in your primary identification document - the passport of a citizen of the Russian Federation.
When filling out the application form, provide your contact details - phone number and email address.
In the application form, indicate your permanent place of work from which you went on maternity leave.
When filling out your current status, indicate one of the available options – "on maternity leave" or another, for example, "housewife".
Submit an application on the official website of the card-issuing bank.
Wait for a response from the operator.
Pick up the card or have it delivered to you by a courier.

After you provide your truthful information, within 5-15 minutes you will receive an SMS notification about the approval of your application, or an operator from the lending institution where you applied will contact you. After the application is approved, you will be offered a method to receive the banking product – at an office of the lending institution or via courier delivery.

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What credit limit does an installment card allow for women on maternity leave

Each bank uses its own calculation methodology to determine the borrower's credit limit. Leading issuing banks offering installment cards for women on maternity leave – Alfa-Bank, Sovcombank, Home Credit Bank, and Qiwi Bank – set a maximum limit of 300,000 to 350,000 RUB.

General analytical assessments for obtaining approval of a credit line on an installment card for a woman on maternity leave are as follows:

The bank takes into account the actual financial condition of the applicant for the banking product.
The minimum credit limit can start from 500 RUB.
After the first month, or within the first three months, the bank monitors how the woman on maternity leave fulfills the conditions of the installment card, after which it unilaterally increases the credit limit.
Even if you have every reason for a good credit line to be approved, the initial amount will not exceed 100,000 to 150,000 RUB.
Mandatory presence of credit history; the bank determines the available lending amount based on credit bureau data.
Region of residence. Based on the socio-demographic indicators of the region, the available minimum amount for obtaining an installment card for a woman on maternity leave is determined.

Taking these indicators into account, the lending institution independently determines the minimum credit limit. The smallest amount that can be approved is 500 RUB. In most cases, issuing banks approve a minimum amount of 5,000 to 15,000 RUB. Sometimes, if prerequisites exist, the initial credit limit is up to 100,000 to 150,000 RUB.

How to get an increased credit limit on an installment card for women on maternity leave

If a bank has approved a credit limit on an installment card for a woman on maternity leave, this is not a fixed value. The bank has the right to increase the size of the credit line unilaterally. In order to get approval for an increase in the installment credit amount, please pay attention to the following:

Check with the bank operator on when you can expect a credit increase. As a rule, this is 1 month, but some banks start increasing it after 3-4 months and then every month.
Make all payments on the banking product in a timely manner.
An ideal option would be early repayment of the allocated funds.
After you have fulfilled all the conditions, a bank operator will contact you or you will receive an SMS notification about the increase in the credit line.

You can find out the exact credit limit increase only after the bank analyzes your borrower profile and evaluates how actively you have used the banking product. Remember that if you have missed a payment even once, you will have to wait at least half a year for a credit limit increase, and even then, only if you actively use the bank's product.

Rating of banks that issue installment cards to women on maternity leave

Many banks offer an "installment plan for individuals" product. This program appeared relatively recently. In fact, the market leaders for these cards are 4 issuing banks that offer extended installment program terms for women on maternity leave. The top installment cards for women on maternity leave are as follows:

Alfa-Bank, #Vmestodeneg card (this card is currently archived).
Sovcombank, Halva card.
QIWI Bank, Sovest installment card.
Home Credit Bank, "Installment Card" product (Svoboda).

These credit institutions offer installment plans for a period of 1 to 12 months, and with the Halva card, you can get an installment plan of up to 18 months.

The service terms for all cards are approximately the same. The maximum installment credit limit is 300,000 RUB. With the Halva card, you can get a credit amount of up to 35,000 RUB and even earn a decent return. If you top up your Halva card account with your own funds, the bank will credit you interest on the balance at a rate of 6% depending on the amount (up to 7% under a number of conditions).

When choosing the most profitable installment card for a woman on maternity leave, you should pay attention not to the amount and the installment period, but to the number of partner stores. The more such stores there are, the more profitable it is to use the installment card. In addition to installment plans, some banks offer participation in loyalty programs where you receive cashback for purchases in stores. As you can see, installment cards offer not only the benefit of a grace lending period, but also the opportunity to earn on cashback and interest on the account balance.