When issuing borrowed funds, the lender must be sure that the borrowed amount will return with interest in the period specified in the contract. The bank will judge the reliability of a person based on the submitted papers. The list of which documents are needed for a loan depends largely on the type of loan requested, the amount, and the need for collateral.
The presence of an incomplete package provided to a financial institution, gives reason to doubt the reliability of the client and the success of the proposed cooperation.
Required package of documents
The essence of credit relations is concluded in the principle of compensation – the bank issues funds and expects their return within a certain period with accrued interest. To get a loan, you need to convince the bank that there is no risk of no return and a safe return of the loan with interest income.
For this reason, the financial institution will request a mandatory set of documents, without which it is impossible to enter into a loan agreement. First of all, the borrower must provide:
- A passport or other equivalent identity document.
- The second document (it can be a SNILS, international passport, for men – a military ID).
Without presenting his main certificate to the creditor’s office, a citizen will not be able to receive even the smallest amount. Even if an online application is negotiated, it must be remembered that this approval is preliminary. For proper registration will require the presentation of at least the original passport.
The minimum list of securities, as a rule, is necessary for taking an ordinary consumer loan in the range of 10–50 thousand rubles. As the credit line increases, the creditor’s claim to a candidate becomes higher.
The obligatory list is supplemented with additional references for obtaining a loan from the bank:
- a reference from work on salary for the last 3–6 months will allow assessing the level of solvency (this may be 2-NDFL or a certificate in the form of a bank);
- certified copy of labor indicates a stable employment.
Depending on the features of the program, the list may be added at the discretion of the bank. Each application is considered individually, and if you intend to issue a loan with collateral, the future client will have to collect an additional package of supporting papers.
Additional list of documents
The following list contains all additional papers that may be useful to get a loan for any of the programs:
- driver’s rights (especially relevant for the issuance of a loan to buy a car);
- registration certificate on the vehicle;
- certificate of registration as a taxpayer;
- international passport;
- insurance policy on the collateral;
- certificates confirming the ownership of the collateral property;
- extracts testifying that the creditor owns a certain amount of securities or keeps funds on deposit;
- diploma of graduation;
- credit documentation from other banks;
- statements of the credit account or the absence of debt;
- evidence confirming marital status or having children.
More difficult is the process of negotiating a loan with collateral. The bank must be convinced of the high liquidity of the object and the availability of insurance coverage for an unforeseen event.
In housing loans, often the collateral becomes the acquired property or existing property. In order to assess the value of the collateral and set the maximum possible loan limit, the bank establishes which certificates are necessary for a loan with collateral.
The financial institution asks to prepare:
- contract of sale, gift, certificate of inheritance, other paper confirming the right to property;
- certificate of state registration of real estate in Rosreestr;
- cadastral passport, floor plan;
- construction permits;
- extract from the Unified State Register;
- extract from the house book.
If a loan is issued for the purchase of a car, consider documents on movable property:
- contract for the purchase of a car;
- receipt of payment of the first installment from the car dealership;
- registration certificate from the former owner (for used cars);
In addition, the borrower draws up and submits to the bank an insurance agreement for a collateral object.
Documents required for guarantors and individual entrepreneurs
Banks lend to private entrepreneurs with less eagerness, because incomes from entrepreneurship are characterized by instability. If there is a need for additional fundraising, the IP addresses the bank with a request, having prepared a package of papers in advance.
The financial institution independently determines which documents are necessary for obtaining a consumer loan for an entrepreneur. The most common list is:
- from income reports of 3-NDFL filed with the FTS for the last 2 years (current and previous);
- certificate of the entrepreneur (with a notarized copy);
- bank statements with the movement of the IP accounts;
- documentation from suppliers, acts of work performed, other papers testifying to the activities of individual entrepreneurs.
When deciding to involve a guarantor, the borrower must take into account that the list of documentation will be much broader – the list will include papers confirming the identity of the guarantor, his responsibility, solvency, and the amount of monthly income.
The information transmitted in the documents will allow the bank to make a decision on issuing a loan or to refuse the applicant on the basis of insufficient solvency. To take a bank loan, it is important to check that the documents submitted recommended the borrower as a responsible, prosperous citizen who has a stable and sufficient income. The wider the package presented to the lender, the higher the chances of a positive response to the application.