If the client of the MFI does not have big problems with solvency and delays, then he can issue a refinancing of a microloan in the bank. Due to this, the borrower of the microfinance organization gets rid of the debt with high interest and becomes a debtor of the bank (but the interest on the new loan is much less than those that were offered in the MFI before).
As a rule, in this case we are not talking about the standard refinancing procedure, but about the usual registration of a consumer loan. This money is given to the client in his hands (or on the card), and then he takes them to the microfinance company and repays his debt.
When to contact the bank for refinancing of microcredit
It is advisable to apply to a banking organization when the debt has just begun to form. That is, the client has not yet allowed a single delay, but has problems with payments and understands that he will not be able to repay the loan soon. At this stage, a person has a good credit history and can qualify for standard offers of banks.
How best to refinance a microloan in a bank
For standard refinancing of microcredit in the bank it is best to issue a consumer loan without any collateral or a credit card with the ability to withdraw money without commission. At the same time, the client can even benefit from using a credit card, because initially interest is not accrued on the debt on it. If the borrower manages to meet the grace period and close the debt, then he will not even owe any interest in the bank.
Which banks should be contacted to refinance microloans of MFIs
- Sberbank;
- Tinkoff;
- Raiffeisen;
- Renaissance Credit;
- Home Credit;
- VTB 24.
These banks are the most reliable and stable. If the client is their salary client, then the chances of refinancing a microloan increase significantly. Also, the increase in the chances of lending contributes to a high official income, permanent residence in the region where the bank is located and the presence of liquid property in the property.
