Refinancing can be considered in two aspects - how to attract credit institutions cheap interbank loans or loans from the CBR.
In another context, the refunding for the borrower is obtaining a new loan from the bank on more favorable terms for the full or partial repayment of the previous one.
Refinancing of consumer loans
If the borrower has temporary financialComplexity, he can ask in his bank to provide a loan restructuring, namely - an increase in the loan period when the amount of the monthly payment changes (decreases). It should be noted that not all banks make concessions to the borrower. Then it is worth trying to refinance the loan.
The loan refinancing scheme is as followsWay. The borrower takes a loan from another bank and uses it to repay the debt in the old one. Refinancing allows not only to reduce monthly payments, but also to reduce the interest rate, and in some cases - to change the currency of the loan and replace several loans with one.
Today, it is possible to refinance almost in any large bank. More often borrowers carry out refinancing of a mortgage, less often - auto loans and consumer loans.
Today, up to 10% of the total volume of lending falls on refinancing. Banks generally refinance loans with a maturity of more than 6 months.
In the case of housing loans, it makes senseTo carry out on-lending only until the five-year payment period is reached, and with a debt balance of more than 30%. At the same time, difficulties can arise with the re-registration of the contract, because Credit is essentially a security.
When refinancing the borrower's solvencyEstimated by the bank, as in normal lending. Also takes into account the credit history of the borrower. Thus, the existence of delinquencies in payments will be the most likely factor in refusing to grant a new loan.
The package of documents for refinancing fullyCorresponds to a package of documents for formalizing a normal loan. This is in most cases - a passport, a certificate of 2-NDFL, a loan agreement, documents on the balance of the main debt and debt on the loan. Mortgage documents are also required for mortgages.
In general, it does not always make sense to look forRefinancing programs in the bank, because you can simply draw up another consumer loan without specifying the purpose of obtaining it. Sometimes it will be easier to get such a loan than to get re-credited.
Refinancing in the interbank market
In the inter-bank lending market, one of theForms of refinancing of commercial banks are credits of the Central Bank of the Russian Federation. The key parameter in this case is the refinancing rate. It is determined on the basis of the dynamics of the economy and inflationary processes.
Refinancing rate - the amount of interest on an annual basis, payable by the Central Bank for loans that the central bank provided to credit institutions. Today it is 8.25%.
It is on it that banks' rates on loans and deposits depend. Banks attract deposits at a rate slightly below the refinancing rate, and loans - at a percentage higher than it.