How to get a big loan in 2022

Taking a big loan, with a mandatory approach to business, is not so difficult. The main thing is that the borrower should have everything in order with income, loan security and credit history. Banks and other financial institutions are willing to lend to the population in 2022, because they make good money on the interest that the client overpays. We will tell you what loan amounts are approved in Our Country, the main requirements for borrowers and sources where you can get money. We publish instructions on how to get a big loan.

Conditions for obtaining a large loan

Step-by-step instructions for obtaining a large loan

1. Analyze your credit score

The lender will definitely do this for the client, but you also want to know if there is a chance to count on a big loan? The borrower’s rating is open information and everyone can find out about himself for free twice a year. The rating is based on credit history. A financial dossier about everyone who has taken money from credit institutions at least once in Our Country in recent years is kept by credit history bureaus (BKI).

There are eight large BCIs in Our Country (list on the website of the Central Bank). To find out where your credit history is stored, go to the State Services portal. In the section “Taxes and finances” there is a subsection “Information about credit bureaus”. Get electronic services and within a day (usually in a couple of hours), the answer will come to the personal account of the portal.

Get a list of contacts and web addresses of BKI. Go, register (you can authenticate through the State Services) and see your credit rating. It’s free and has no limit on the number of requests. 

In 2022, Our Country adopted a single scale from 1 to 999 points. But BKI interpret points in their own way. For example, the NBKI bureau has a high rating from 594 to 903 points, while Equifax has a rating ranging from 809 to 896.

We publish a table with the arithmetic mean scores for bureaus.

A rating is not a 100% guarantee of approval or rejection. The bank will use it (you do not need to show your result, the institution itself will send a request to the CBI), but will also use its own scoring tools – borrower assessments.

Rating is affected by:

• debt load (how much you owe other banks);
• credit history and past due payments for the last seven years;
• debts sold to collectors;
• debt collection through the court (housing and communal services, alimony, compensation for damage).

Let’s make a portrait of a person with an ideal rating: over the past seven years, he took 3-5 loans and closed them, paid everything on time, without delays, but did not pay off ahead of schedule, now he has practically no debts or none at all. Such a borrower can take out a large loan. But it is also important to meet the requirements of the bank.

2. Find out the bank’s requirements for the borrower

We have analyzed the offers of major banks and publish the “arithmetic mean” portrait of the ideal client.

• Over 22 years old.
• The upper limit of age is 65-70 years at the end of the loan term.
• Citizen of the Federation, there is a registration (propiska).
• Officially employed in a large company for more than 6 months.
• Has work experience of 1 year.
• Good position (supervisor).
• High income (monthly payment does not exceed 50% of salary).
• With a credit history (previously took loans and successfully closed them).
• Salary bank customer.

3. Apply

Loan approval takes less than an hour in 2022. At this stage, you submit a short questionnaire to the bank (via the website, by phone or in person), announce the desired amount and receive an answer. The amount may be approved less than necessary. Below are ways to get more.

If you looked at your credit rating and history and see that you have average indicators, there were delays, then do not risk mass mailing of applications to banks at this stage. All your requests for money are recorded in the BKI. Banks will think something like this: “This client asks for money suspiciously often, but what if he wants to take out a lot of loans at once, will he be able to pay on them?”

Therefore, it is better to choose one or two banks that are most loyal to you. Where you had a credit card, deposit, or are a payroll customer. Wait first for their answer and if he did not suit you, then send applications to others.

4. Collect documents

Before the final approval of the loan, you will need to send a set of documents to the bank. You can’t get a big loan with just one passport.

Basic documents. The original passport of the Federation in the first place. When considering an application for a large amount, the lender will probably ask for a second document – SNILS, passport, driver’s license.

Financial documents. The most loyal to those who provide a 2-NDFL certificate of income from work. You can ask for it in the accounting department or download it in your personal account on the website of the tax service – the Federal Tax Service of the Federation. But banks often agree to an income statement in the form of a bank or an account statement in your name.

Other. They will ask you to confirm employment and work experience with an extract from the pension fund – the Pension Fund of the Federation. It can be obtained online through the State Services, as well as attach copies of the pages of the work book.

5. Wait for approval and get a loan

The decision to issue large loans, banks take longer than ordinary loans. Approval is approved by several employees and departments. However, now in Our Country, banking services are quite client-oriented, so the financial institution will not delay the answer. After submitting the documents, approval usually comes in one to three days.

6. SemiчGet money and get ready for the first payment

The bank will transfer the amount to your account, from where it will be possible to transfer them to the card. It is also possible to order cash withdrawal at the branch. Or even delivery by collection to your home, office. Do not forget to specify when the first loan payment is due according to the schedule. It is possible that already this month.

Where to get a big loan

1. Bank

The classic source to take out a big loan. Financial institutions put forward various requirements and conditions for a loan. Large banks strictly look at applicants. Smaller ones may assign a higher percentage, but approve the loan.

2. Pawn shop

The pawnshop accepts gold jewelry, cars, watches or valuable equipment as collateral. They cannot take apartments. The amount is calculated based on the cost of products. Accordingly, in order for you to be given 1 rubles, you need to hand over a huge amount of gold or other valuables. Moreover, not all pawnshops work with expensive jewelry.

3. Cooperatives

The full name is credit consumer cooperatives (CPC). A feature of the work is membership fees, which are paid in addition to interest. Please note that in some cases, even with early repayment, you will have to pay membership fees for the entire loan period. Such contributions are in the payment schedule or specified in the statutory documents of the cooperative. And if you took a loan for a period of five years, but repaid it after a year and a half, then the interest will be recalculated for you, and membership fees will have to be paid for 60 months. 

4. Investors

You can also borrow funds at interest from individuals. The main thing is to agree with the lender on the terms and document them. Remember that it is forbidden for private investors to take apartments from individuals as collateral – this type of security is only for individual entrepreneurs or LLCs.

Where exactly will not give a big loan

Microcredit organizations (aka “quick money”, “payday loans”, MFIs) usually have a limit in terms of the size of the total cost of credit (TCP). For example, an MFI cannot issue more than 30 rubles to a borrower.

What amounts can be given

– The maximum amount of the approved amount depends, first of all, on the type of lending. If we are talking about issuing money secured by property, for example, an apartment or a car, then the maximum amount will be calculated from the value of the property. Secured loans are usually issued by small banks, among whose clients there is no constant flow of borrowers with a high level of official income, – says a financial expert, head of the Assistance Group Alexey Lashko.

With a secured loan, most calculate the maximum amount as 40-60% of the value of the property. But the real estate market is constantly changing, which is why you can end up getting from the bank not the amount you expected. Some banks issue amounts up to 30 million rubles secured by real estate, for example, houses. 

With a secured loan, you also need to verify your income.

When there is no collateral, income level, credit load and other factors are taken into account.

— One of the important criteria is the existence of a salary project using a creditor’s account and an expense item. For example, if you spend about 50 thousand rubles on restaurants every month, then you will probably be approved for a larger credit limit without collateral. Payroll projects play into the hands of the client, especially if he is an employee of a large organization. In this case, you have every chance to receive up to 500 rubles without confirmation of income and collateral, – adds Alexey Lashko.

To take a large loan, credit history is very important. If you have repeatedly allowed delays for a period not exceeding 7 days, the bank will write it off as technical overlays. But if you’ve been up to 30 business days past due in the last year or two, you’re likely to be offered a secured type of loan. In cases where there are many delays in history for a period of more than 60 working days, a loan can only be obtained against the security of property. 

If you are not satisfied with the approved amount, you can increase it. This can be done in the following ways:

1. increase in income. Additional income implies the involvement of a guarantor with a stable official or conditionally official income in the transaction process;
2. pledge of property. With additional collateral, the amount from the lender can increase significantly.

Banks can behave differently: some set their own conditions and expect that the client will unconditionally accept them. Others are more loyal and negotiate with the borrower. Such banks can improve conditions for weeks if you gradually add collateral and new guarantors. As a result, you get the expected conditions, but not as quickly as with the approval of a “hard” amount without collateral. 

– Bargaining with a bank is possible only in those cases when you are a major client, and the bank itself is interested in cooperation with you. In such a situation, you can put forward your own conditions and, most likely, the employees of the financial institution will accept them or offer a comfortable alternative, the expert notes.

The maximum loan amount is limited by law. The Central Bank of Our Country sets the maximum total cost of credit (TCC) for each type of loan. This cost should include all additional services, including insurance and others.

The indicator is divided into terms and amounts. The full cost of the loan is allocated to the following categories:

• secured lending;
• unsecured lending;
• mortgage;
• auto loan, etc.

The Central Bank publishes up-to-date information in a special section of its website. It is updated regularly – up to five times a year.

Popular questions and answers

Questions are answered by a financial expert, head of the Assistance Group of Companies Alexey Lashko.