Top 5 banks offering loans to those on maternity leave

When a woman can take out a loan during maternity leave: looking at different situations

There is no total ban on getting a loan during maternity leave. The only thing is that banks may refuse a young mother a loan due to an insufficient level of solvency. The probability of getting a loan depends on the circumstances that we will examine. 

The woman receives state benefits

If a woman has no job and her only source of income is a state benefit, she will most likely be denied a loan. In 2024, a young mother can receive a universal benefit equivalent to the living wage. 

When such a client applies, bank employees see that she has no additional source of income (a job) and has a small child to support. Therefore, even if the woman is married, her personal income will be too small to service the loan, and she will receive a refusal. 

The living wage at which a bank loan can be issued for a family of two (mother and child) exceeds 20,000 RUB, accordingly, the bank will decide that a woman receiving only benefits will have nothing to repay the debt with. 

If a woman receives only state child benefits, she should not count on getting a loan from banks and microfinance organizations. Organizations will assess her solvency as too low. 

The woman receives benefits and has additional income

Another situation can happen. A woman may receive not only state benefits but also work informally. In this case, her chances of getting a loan will be higher because she will indicate in the application that she has an income. 

The only advice is to look for a lending institution that allows getting a loan without income certificates. The interest rates will be higher than for standard products. 

In this case, the bank sees that the client is working, has informal income, and receives state support. You can expect to get a loan even with a small salary of about 15,000 RUB. When assessing solvency in this case, marital status will play a role; it is good if a woman on maternity leave is officially married or receives alimony, which is also counted as additional income. A single mother raising a child can also take out a loan in this situation, but for a small amount, because the bank will assess her solvency as low. 

What kind of loan can you get: 

• arrange an installment plan for goods in a store; 
• get a credit card with a limit of up to 50,000 RUB; 
• a small cash loan – up to 100,000 RUB. 

The woman receives official benefits from her job

Under these circumstances, a woman can get a loan, especially if the amount received from the employer is sufficient. According to current legislation, a woman on parental leave can receive 40% of her average annual income before maternity leave on a monthly basis. 

Such income is considered official, and it can be confirmed with certificates or a statement obtained via Gosuslugi. A woman can apply to any bank, but it is better to take out a loan from the institution whose card her salary was credited to—in this case, you can count on more favorable terms. 

The woman works officially and does not receive benefits

Any bank will readily give a loan to a woman on maternity leave if she has returned to work and has a sufficient stable income. Such clients can apply for a mortgage, car loan, cash loan for various amounts, or a credit card with a good limit. Having a dependent child is significant when reviewing the application, but with a good salary, you can get any loan. 

Basic requirements for borrowers

The main requirements for borrowers at all Russian banks are approximately the same: 

• Russian citizenship; 
• having permanent registration; 
• age from 18 years old (large loans are often given to clients aged 23 and older); 
• employment history – you must have worked at your last job for at least 3 months; 
• having a steady income. 

To increase the likelihood of loan approval, a woman should provide the bank with guarantees of repayment. There are the following options: 

• providing collateral; 
• involving co-borrowers or guarantors with a high level of income; 
• making a down payment. 

The procedure for obtaining a loan during maternity leave follows the standard scheme. You should proceed as follows: 

• study offers from different banks and choose the most profitable option;
• submit a loan application at a bank branch or online;
• wait for the application to be approved and sign an agreement with the bank. 

For the bank to be sure of its potential client's solvency, it must receive documentary confirmation of this fact. You can present: 

• a 2-NDFL income certificate; 
• an employment record book; 
• an officially executed lease agreement specifying the amount the woman receives monthly as a landlord; 
• a bank statement to confirm the presence of a deposit account; 
• documents confirming ownership rights (they are necessary when providing collateral property).
• documents of guarantors or co-borrowers (their passports and income certificates).

Original documents must be presented at the bank. 

TOP 5 banks where you can get a loan during maternity leave

To get a loan, you should apply to banks. They offer more favorable lending terms than MFIs. At the same time, microfinance organizations are less demanding of applicants and often issue loans without any certificates. 

The following banks are willing to issue loans to women on maternity leave: 

• T-Bank. The process is carried out entirely remotely, as the bank has no offices. A representative of the credit institution will bring the card with the money in the account to the client's home. 
• Sovcombank. Allows obtaining a loan with or without income certificates. Clients consider the credit institution to be loyal. The bank may grant a loan even with low client solvency.  
• Alfa-Bank. Provided that income certificates and other documents guaranteeing solvency are submitted, the credit institution will readily grant a loan to a woman on maternity leave. 
• Loko-Bank. A loan can be issued upon presentation of two documents. You can count on getting a large loan by providing a 2-NDFL certificate.
  
• VTB. Issues loans to representatives of various social groups. To get a loan, it is enough to present a passport and SNILS. 

Initially, you should apply for a loan at the bank through which you receive your allowance or salary. This will increase the likelihood of approval. 

What to do if banks refuse to approve a loan

Applying for a loan in the name of a mother on maternity leave is not the best solution. It is better if an officially employed husband applies for the loan. This is not possible in all cases, so we will explain how to get a loan if banks refuse: 

1. Applying for a loan through relatives with a good credit history and a sufficient level of income. This is a proven method, but it does not always work; as a rule, people are reluctant to take on someone else's financial obligations. 
2. Applying for a loan with a guarantor. In this case, the guarantor serves as an additional guarantee for the bank and also shares responsibility for the loan. The chance of application approval will be higher if the involved person has a work history, a good credit history, and sufficient income. 
3. Applying for a collateralized loan. If collateral is provided, banks do not require an income certificate. This condition makes it possible to get a large amount at a reasonable interest rate. 
4. You should apply to the bank where you are a customer. It is good if the woman previously received her salary on this bank card, opened a contribution or deposit, or took out a loan and repaid it on time. Under this condition, you can expect a more loyal attitude. 
5. Try applying for a credit card. As a rule, getting this credit product is easier than cash. In practice, there is no major difference for the user; the card can be used to pay in stores and withdraw cash from it (subject to a commission). 

The last resort you can use is applying for a loan from an MFI. You should turn there if other options are unavailable. Microfinance organizations rarely look into the financial situation of their clients and often provide loans without income certificates. 

Is it possible not to pay a loan while on maternity leave

The financial situation in a family with the birth of a child may worsen, making it impossible to make loan payments. You simply cannot stop paying; this will lead to penalties and ruin your credit history, regardless of circumstances. In such a situation, a woman should contact the bank and state her problem. 

As a rule, banks meet customers halfway and do not drive them into debts they cannot repay. Creditors may offer a solution to the situation. The woman may be offered credit holidays. During this time, she will only pay interest on the debt, and the principal amount will be repaid after returning to work. The bank may also offer to reduce the monthly payment amount by extending the loan term. To change the terms of the agreement, you must submit an application to the bank and attach documents confirming the start of maternity leave.

Frequently asked questions

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

Will they give a loan if I have two small children?

The bank's decision depends on the client's solvency. If the potential borrower's income is low, banks will most likely refuse. You can try applying to microfinance organizations, but keep in mind that loan interest rates there are high and will have to be covered. 

All banks and MFIs are refusing loans, why?

The refusal may be due to two reasons: low solvency or a bad credit history. In this case, you can get a loan from a pawnshop against some valuable property. Other lending options will be unavailable. 

Can I get a loan if my only income is state benefits?

Banks classify the potential borrower's income as extremely low. You can try to get a loan from an MFI, but you can also get a refusal there. 

Is it possible not to inform the bank about being on maternity leave?

Yes, this information can be withheld provided you receive a regular salary and have official employment. In this case, you will need to provide a 2-NDFL certificate when applying for a loan. 

Can I get a loan from Sberbank during maternity leave?

The rules do not state that the bank does not issue loans to young mothers. If the level of solvency is sufficient, you can count on loan approval.