Credit Doctor from Sovcombank

How does the credit history improvement program work?

As we already said, improving credit history occurs by adding new positive records about the borrower's lending and successful debt repayment. The program takes place in several steps. Let's talk about them in detail.

Step 1 “Credit Doctor”

At this step and subsequent ones, the lender offers borrowers three options for improving credit history to choose from:

1. The borrower receives a loan that includes family protection for the amount of 1.5 million RUB costing 4999 RUB. Upon successful payment installments for 3 months, the client proceeds to the second step of the program.
2. The borrower receives a loan that includes property insurance with coverage up to 1.3 million RUB costing 9999 RUB. Upon successful payment installments for 3 or 6 months to choose from, the client proceeds to the second step of the program.
3. The borrower receives a loan that includes property insurance with coverage up to 1.3 million RUB, as well as comprehensive IT protection costing 14999 RUB. Upon successful payment installments for 3 or 6 months, they proceed to the second step of the program.

Defaulting at this and any subsequent stage leads to the cancellation of the contract. The consequences of violating the terms of the program are quite serious. After a permitted default, re-improving the credit history will be unavailable, as well as lending in other banks.

Step 2 “Money to the card”

The second stage of the program proceeds as follows:

1. The borrower is guaranteed a loan of 10,000 RUB. At this stage, the funds can only be used for cashless payment for goods and services. Upon successfully making payments for 6 months, the client proceeds to the third step of the program.
2. The borrower is guaranteed a loan of 20,000 RUB under the same conditions. Upon successfully making payments for 6 months, the client proceeds to the third step of the program.
3. The borrower is guaranteed a loan of 30,000 RUB under the same conditions. Upon successfully making payments for 6 months, the client proceeds to the third step of the program.

Credit limits at this stage may differ significantly from those stated. The specific amount is calculated based on the borrower's income — the higher it is, the larger the available limit. 

Step 3 "Cash Loan"

This is followed by the third step of the program:

1. The borrower receives a cash loan of up to 40,000 RUB for a term of 6 to 18 months of their choice. The final scheduled payment completes the third step.
2. The borrower receives a cash loan of up to 60,000 RUB for a term of 6 to 18 months of their choice. The final scheduled payment completes the third step.
3. The borrower receives a cash loan of up to 80,000 RUB for a term of 6 to 18 months of their choice. The final scheduled payment completes the third step.

Step 4 "Large Cash Loan"

Essentially, the credit history improvement program itself ends at the third stage. The fourth step is obtaining a large cash loan. When choosing the first program option, the maximum available amount is 100,000 RUB, and when choosing the second, it is 300,000 RUB.

If desired, the client may decline this loan.

Who can apply for credit history improvement?

Any person with a poor or zero credit history who meets the following bank requirements can apply to participate in the "Credit Doctor" program:

• holding Russian Federation citizenship;
• having permanent registration at their place of residence for at least four months;
• aged between 20 and 85 at the time the debt is repaid;
• having a permanent place of residence in the region where the bank branch is located;
• having a work experience of at least four months at their current job.

To improve their credit history, the borrower will need to provide a Russian internal passport and a second identity document. This can be: a SNILS, INN, international passport, military ID, employee ID, compulsory medical insurance policy (OMS), and so on.

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How to apply for the “Credit Doctor” program from Sovcombank?

You can apply to participate in the program online on the bank's website or directly at a Sovcombank branch. Let's look at both methods in detail.

Online on the bank's website

To apply online, you need to:

1. Go to the official Sovcombank website via the link: https://sovcombank.ru/solutions/private/uluchshenie-kreditnoi-istorii.
2. Click the "Fill out application" button.
3. Fill out the application form. In it, specify your surname, first name, and patronymic, date of birth, region of residence, primary and secondary mobile phone numbers, and email address.
4. Confirm consent to the processing of personal data.
5. Click the "Submit Application" button.
6. Wait for the bank's decision and, in case of a positive response, pick up the card and agreement from the nearest Sovcombank branch.

At a Sovcombank branch

To apply at a bank branch, you must:

1. Find the nearest Sovcombank branch on the credit institution's website.
2. Submit an application to participate in the "Credit Doctor" program.
3. Gather the necessary documents.
4. Sign the agreement.

Is it possible to opt out of participating in the program?

The borrower has the right to refuse participation in the "Credit Doctor" program at any time. To do this, they need to:

1. Contact the Sovcombank branch where they previously signed the agreement.
2. Inform the employee of their desire to terminate the credit history improvement program.
3. Clarify the debt amount and deposit the money via an ATM or the bank's cash desk.
4. Request a certificate of debt repayment.

The bank does not forward information to credit history bureaus if the client does not complete the program. Upon early termination of the agreement, the client simply loses the money paid for the first stage.

Pros and cons of the “Credit Doctor” from Sovcombank

Let's start with the advantages:

1. Since the goal of the program is to improve borrowers' credit history, the bank rarely refuses to provide this service. The advantage here is that Sovcombank allows even people with the worst credit history to obtain borrowed funds.
2. The client gets a real opportunity to fix their credit history in a short time. If Credit Doctor is not enough to get a loan from other banks, the borrower can subsequently apply for loans with Sovcombank, thereby raising their credit rating.
3. With each completed stage, the client receives a larger credit limit, which is quite good given that the program's target audience consists of people with damaged credit histories.
4. At the end of the program, the borrower can receive a consumer cash loan on favorable terms. To do this, they only need to go through all the stages of Credit Doctor.

Now let's move on to the disadvantages:

1. Very high interest rate. For example, the overpayment in the first stage of the program is 34.9% per annum, which is significantly higher than the rates offered by other credit companies.
2. Very strict conditions for completing the program. Any minor loan delinquency can cause the agreement to be cancelled. In this case, re-improving the credit history will also become impossible.
3. Quite a short loan term and, due to this, high monthly loan payments, which may be unaffordable for some borrowers.

Answering questions

To conclude the article, we will answer the most frequently asked questions on the topic.

Can I opt out of participating in the Credit Doctor program?

Yes, if you fully repay the debt to the creditor under the agreement.

Can I skip making payments under the program?

Of course, you can choose not to make payments. But be prepared for the bank to cancel your agreement and demand early repayment of the debt.

Why am I being refused participation in the program?

Most likely, you have previously tried to complete this program, but violated the terms of the agreement. In case of overdue payments or early loan repayment, further credit history repair becomes impossible.

Is insurance mandatory?

Yes, this is a basic condition for participating in the program. This is how the bank minimizes its risks when issuing borrowed funds to you.