Personal loan from Alfa-Bank

At Alfa-Bank, you can apply for a consumer cash loan ranging from 50,000 to 15 million RUB for a term of 1 to 15 years. The minimum possible interest rate is 13.5% per annum, and the maximum is 29.99%. Overpayment is calculated individually for each borrower, though the most favorable terms are available to salary clients and those who purchase life and health insurance.

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.

Borrowers who meet the following requirements can apply for a consumer loan at Alfa-Bank:

• 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.

Pros:

• large loan amount — up to 15 million RUB;
• long loan term — up to 5 years;
• option to apply with just one document;
• option to apply online.

Cons:

• high maximum interest rate — 29.99% per annum;
• life and health insurance is required to get the minimum interest rate;
• additional documents confirming income and employment are required for amounts starting from 300,000 RUB.