Procedure of receiving credit
Each bank aspires to increase the capital. The bank credit serves as excellent means of receiving profit and consequently crediting is priority activity of bank.
The bank credit can be characterized, as the relations between the borrower (consumer) and the creditor (bank) in the course of whom under certain conditions to the borrower the money advance stands out. These conditions are constructed on the basis of principles of density, urgency, material security, recoverability and a target orientation.
Thus the density is understood as the price of the received credit expressed as a percentage. Differently, having taken the credit for the sum of 100 thousand C.u. on the terms of 12 % per annum, on the expiration, we will assume in a year, you are obliged to return to bank of 112 thousand U.E.In addition the paid 12 thousand and define a density principle.
The credit stands out for a certain term which makes a reservation in advance with the client. In this regard distinguish the short-term, medium-term and long-term credits. Urgency – an important condition of granting the credit. If on the expiration the client does not return the duty, the bank according to the credit agreement has the right to leave to itself property, real estate, current assets of the client which represented itself as pledge of the client.
Material security assumes that delivery of the bank credit is made on the security. As pledge can act acquired means on credit (household appliances, transport), deposits, and also any other property of the borrower being his property.
Recoverability assumes that in the term appointed by the credit agreement the borrower is obliged to pay all sum of the credit.
In the conditions of issuance of credit the purpose where debt funds will be used is accurately specified.
It can be and a mortgage (real estate acquisition), and the autocredit (in this case you get a vehicle), and the agricultural credit (the client provides needs of agricultural production).
All requirements shown by bank at issuance of credit, are specified in the contract which consists with the client. The bank credit plays a significant role in active operations of all commercial banks. And every day banks the favorable offers on delivery of the credits involve and interest the country population.