1.Make sure that the organization in which you want to arrange a loan, is included in the state register of MFIs on the website of the Bank of Russia or in a special e-book. Otherwise a very high probability to run into swindlers.
2. The requirement to make a decision “here and now” is often used dishonest dealers. By law, the client has a right to examine the documents for five days.
3. Assess your ability to pay your monthly mortgage payments with interest. The law allows maximum interest rate for short-term loans (up to 1 year) 1% per day. That is a month, the overpayment will be 30% or 31%. In addition, it will be necessary to repay the principal amount of the debt. To understand the size of future expenses allows a consumer contract of microloan. There’s got to be its full value in percent per annum. Its maximum value on short-term loan 365%. Indicated on the first page of the contract in the upper right corner in the frame.
4. It is not necessary to take the “quick money” under 1% per day on the expectation, then, will draw the Bank loan at the normal rate and quickly pay off the expensive loan – the Bank has the right to refuse to issue loans without any explanations.
5. The pledge of housing (house or apartment) at registration of a microloan is prohibited by law. Don’t settle, if you offer a loan with such terms. Better be without money than without money and without a roof should head.
6. With the loan, make sure that the conditions for granting it are no additional services. Otherwise you can get a smaller amount than planned, and return (and pay interest) still have all the money.
7. You cannot sign a document in which there are references to certain fees or conditions that you have not had the opportunity to review. These conditions are an integral part of the contract and must be in the set of documents. Their absence in the paper – one of the signs of possible application fraud schemes.
8. Keep in mind: the total amount of repayment of micro-loans issued after January 1, 2020, including interest and penalties, and so on may not exceed the amount of the loan by more than half.
9. To resolve all disputes with microfinance institutions from 1 January 2020 with a special body – the financial Ombudsman (the Ombudsman). For the consumer seeking help for free, complaints can be submitted electronically, and the decision of the Commissioner is tantamount to a court order.
