Despite the fact that in comparison with other countries in the domestic market for express credit falls far short, it should be recognized that today it is one of the most popular ways to finance purchases of goods of mass consumption. Virtually all major Megamarket capitals and major cities in the country can be found employees of banks or credit unions that offer you the ability to quickly (sometimes even « payday loan debt consolidation ») to finance your future purchases without leaving the store. Most importantly, as they say, knowing that you'll buy on credit, and the rest will do everything for you.

Convenient, fast, high-quality - these are the basic principles of rapid credit and its major advantages.

However, at the same time, it is worth remembering that financial institutions will not give money to each counter, since they are also commercial agencies and want to make a profit.

Typically, the bank half an hour, at best, able to verify the identity of the borrower - and, perhaps, to confirm the reported details of his job and position. Otherwise, the bank has to rely on the integrity of the client, as well as the effectiveness of the «scoring» - a special mathematical model to assess the solvency of the customer on the basis of circumstantial evidence.

And no «model» can not fully guarantee the repayment of money - so the risks in issuing these loans are extremely high. Accordingly, the borrower must pay not only for its own credit, but for the one that get an imposter, who submitted to the bank false information about yourself. With the possibility of «now» get the desired product - and, indeed, the very agreement of the bank to issue credit «for just» - forcing people not to pay attention to many things. First of all this - additional charges not included in the bank advertised interest rate. This may be commissions «for reviewing the loan application», «for a loan», «for opening the loan account», «for the receipt of cash on hand», «for the servicing of loan accounts»: a bank here izoschryaetsya in the ingenuity of its own. As a result, while initially claimed a rate of
payday loan debt consolidation effective rate of rapid credit for most banks is at a level of 50% per annum.
Consumer loans

If you do not want to overpay for the product several times, then you can use more labor-service banks - consumer credit program "installment." In this case, the borrower need to make the store an invoice for the selected item and include it along with a standard set of documents (passport, certificate of income, etc.) to the bank - that he sent the money directly to the seller. The decision to grant such a loan is usually taken in a period of three days to a week - but the cost to the borrower and significantly less expensive (the effective rate is within 25-35%). However, apart from the inevitable loss of time and need some time to walk from shop to the bank and back, this loan is another significant drawback: some banks issue credit only for purchases in the online shop, with whom they have signed a contract.

Yet the main advantage of such a loan is a lower cost of servicing the loan (in comparison with the express loan). as well as freedom of choice - the borrower chooses the goods at an affordable price and makes an invoice or sales contract. In addition, upon receipt of credit with the bank procedure longer, and during this time you can explore all the terms of the contract, to learn about all the possible additional interest and commissions.