Instant processing of microcredit on plastic cards
What is an MFI (microfinance institution)? MFIs provide loans to the public, but, unlike banks, their work is regulated by other legislative acts. In these organizations, it is possible to get a loan online on the card, urgently, without refusal, without verification, instantly.
Like a bank loan, a loan from an MFI is repayable within a specified period (as a lump sum or several payments), and interest is also calculated on it, but they are several times higher. Why? Because the requirements in the MFI for their borrowers are minimal.
The advantages include the simplicity of applying – a loan can be obtained remotely online via the Internet. We will understand who and why is applying for online loans in MFIs.
Based on the statistics of microfinance organizations, the vast majority of borrowers are between the ages of 18 and 30 (they account for about 41% of all loans). With a small margin (about 33% of microloans) services of MFIs are used by people from 31 to 40 years. About 17% are borrowers from 41 to 50 years old, and about 9% are people over 51 years old.
It turns out that the main users of microcredit are young people. What are the reasons why they apply to MFIs instead of banks? What do they take loans most often?
Types of loans
Conventionally, all microloans can be divided into two groups.
Loans for small amounts and terms. They constitute about a third of all requests to microfinance organizations and are taken for everyday needs. For example, payment of utilities, the purchase of medicines, urgently need to buy a gift for a celebration, and even just buy food at home, when to pay just a week, but there is no money.
Loans for medium and large amounts and for a longer period. Also, microloans are taken for serious purchases, such as: repair of an apartment, a car, expensive treatment, the purchase of large household appliances, vacation, etc.
As a rule, such loans are already taken for several months, and they are paid not in a lump sum, but in equal payments over the entire loan period.
Why MFIs? The question is relevant, because, despite all the simplicity of receiving and approving, microfinance organizations set high interest rates (higher than in banks) on loans, but the flow of their clients does not stop.
The fact is that if you have valid arrears on existing loans, a bad credit history, the inability to confirm your income is documented, you are a pensioner or student, then most likely the banks will refuse to credit you, and the opportunity to borrow the necessary amount from relatives or Not everyone has friends. Then people and resort to online loans.
Who can get a microloan?
Requirements for borrowers may differ in different MFIs. The main ones include:
- Age from 18 to 70 years (some MFIs provide loans only from 21-25 years).
- Passport of a citizen of the Russian Federation with the presence of permanent or temporary registration on the territory of the Russian Federation.
- The presence of a stable income (official employment). But unlike banks, MFIs do not request either a 2-NDFL certificate or a copy of labor for approval of an application. As a rule, they need the address and name of the place of your work and contacts from the place of work, by which they can confirm your employment.
- Contact person (sometimes several) – relatives, friends, colleagues. Those who can give you a positive response (verbally, by phone).
In addition to the basic requirements, each MFI has a list of additional ones. For example:
- no open loans in other MFIs;
- the absence of operating delinquencies on microcredit in other MFIs
- no overdue loans in banks, etc.
When applying for funds online, the MFI can request from the borrower a photograph of the pages of his passport – the main one with a photo, series and number, a page with registration and a photograph of the borrower with a passport in hand. In addition, some microfinance organizations are asking for a photograph of the front of a bank card for transfer.
How to get?
Microcredits can be obtained in various ways:
- Cash on the same day – when visiting the MFI office after approval of the online application or transfer via the Contact (Contact) and Golden Crown systems. In addition, there is an MFI with the departure of the manager to conclude a contract and issue a loan to your home or office.
- Bank transfer for the specified details.
- Transfer to a card (salary, credit, debit, Corn, Superb Bank, etc.). This is one of the fastest ways, enrollment occurs almost instantly. As a rule, this requires binding the card (i.e., on the MFI website, you enter the data of your card to which you wish to receive a loan, after which a small amount is deducted from it and immediately returned).
- Transfer to electronic wallets
- Other methods provided by a specific MFI.