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The article is subjective and expresses the personal opinion of the author.
Credit consumer cooperative an organization that involves the membership of its borrowers. as in a bank, some citizens in the cooperative carry their savings, while others receive loans in it. However, a key feature to keep in mind: those who carry the money and those who borrow the money from the cooperative are united by the fact that they are members of this cooperative. Therefore, before you get a loan, as a rule, you must make an initial contribution to thecooperative. It is small and can be about 100-500 rubles. However, such a contribution gives a formal reason to get a loan.
The main characteristics of a loan in a credit consumer cooperative include the following:
a) the need to make a small amount of money as a membership fee for joining the cooperative (if this is stipulated by the charter);
b) increased interest for the use of borrowed funds (compared to bank loans);
c) the availability of regulation and control by the Central Bank;
d) a loan in a consumer cooperative is not a service, and therefore, you cannot apply to Rospotrebnadzor for the protection of your rights;
e) the number of credit consumer cooperatives is not large, loan conditions on sites are usually not published, and therefore, comparison of conditions and the search for the best option become problematic;
f) reduced requirements for solvency of the borrower compared to a bank loan.
A microfinance organization is an organization that issues loans in small amounts at its own expense. Recently, the number of microfinance organizations has increased dramatically. In almost every busy part of the city, they can offer you a loan in 15 minutes, issued exclusively by passport and without guarantors. Both accessibility and speed of processing are a very attractive side of a loan in such an organization, however, there is a problem: a loan is always issued at a very high percentage, and repayment from unscrupulous borrowers is not always carried out in humane and legal ways.
The main characteristics of a loan in a microfinance organization are as follows:
a) a small maximum amount that can be obtained on credit;
b) a very high level of interest on the loan;
c) insufficient legislative study of the activities of microfinance organizations, which complicates the protection of the rights of the borrower;
d) lower requirements for the solvency of the borrower compared to a bank loan and a consumer cooperative;
e) the minimum number of documents required to obtain a loan.
The most important difference between the three organizations listed is the percentage charged. So, if the bank always directly announces the annual interest rate and is obliged to fix the full cost of the loan in the agreement, then you will find out the interest rate on the loan at the credit consumer cooperative and microfinance organization only upon signing the agreement. Suppose that Viktor Ivanovich decided to take a loan of 40 thousand rubles. For 6 months and appealed to 3 financial organizations: the commercial bank Rublev, the cooperative Treshka and the microfinance organization LLC BystroDamDengi. In the bank "Rublev" Viktor Ivanovich's application was approved, and he was asked to sign an agreement to receive a loan amount of 40 thousand rubles. 180 days at 18% per annum (interest paid on a monthly basis, repayment of principal in equal installments). In the credit treshka consumer cooperative, Viktor Ivanovich was asked to sign an agreement on a loan in the amount of 40 thousand rubles. For 180 days at 24% per annum (interest paid on a monthly basis, repayment of principal in equal installments). The contract provides for the payment of a lump-sum contribution upon entry into a cooperative. The microfinance organization BystroDamMoney LLC proposed signing a loan agreement in the amount of 40 thousand rubles. For 180 days at 2% of the principal amount accrued daily (repayment of the principal in equal installments every half a month). The contract involves the collection of a one-time commission in the amount of 500 rubles. For considering an application for a loan. Consider what costs Viktor Ivanovich incurs in each of the proposed types of lending.
The second most profitable option is a loan in a credit consumer cooperative. In this case, Viktor Ivanovich will overpay the amount of 2800 rubles over the borrowed amount. As a percentage. However, the high cost of cooperative loans is not absolute. In practice, there are examples where consumer cooperatives offer their members loans at lower interest rates than banks. And finally, the least profitable option is a loan issued by a microfinance organization. In this case, Viktor Ivanovich will overpay the amount of 78 500 rubles over the borrowed amount, including 78 thousand rubles. As interest on a loan.
Returning to the practical task that was posed at the beginning of the lesson, we can conclude that the girl made 2 mistakes.
1. She did not commensurate the volume of monthly payments and her monthly income. This ratio at the time of the loan amounted to 44%.
2. The girl received one of the most expensive loans, since it is incorrect to compare the interest rates of microfinance organizations per day with the annual rates of banks.
The annual interest rate on a girl’s loan will be 730%. Summing up, we recall that before applying for a loan or credit, you must compare your income with the amount of available and planned debt burden, as well as carefully approach the choice of organization.
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