Credits are a habitual service in modern life.According to statistics, most people used them at least once. Buying an apartment, car or home appliances on credit is the services that everyone knows and successfully uses, not to mention credit cards or a non-targeted loan. Despite this, the population constantly raise questions about this issue. And the main thing for everyone is still this: "Is it worth borrowing in 2014?"
Pros and cons
In order to give an objective assessment and answerthe question of whether it is worth borrowing in 2014, you need to understand the mechanism for setting interest rates on bank loans. The priority and its main component is the refinancing rate of the Central Bank. Interest on loans in a bank can not be lower than this amount. Therefore, when the inflation rate is at the same level as the refinancing rate, the loan funds are partially depreciated, which for borrowers becomes profitable with simultaneous increase in incomes commensurate with or greater than the Central Bank rate.
Unsuitable lending is in those cases,when there is a possibility that its own financial stability may be shaken in the future. Long-term planning is peculiar only to the state, which annually adopts a budget for the next year, based on forecasts and calculations of certain indicators.
Is it worth borrowing in 2014?
The situation in our country is relatively stable,despite the forecasts of a possible crisis after the Olympic Games in Sochi and the accession of new territories. The only thing that a potential borrower should take into account is its own stability in finances and their receipt.
It is important to understand that the currency of the loan in any case should coincide with the income. Then, the exchange rate fluctuations will have little effect on the conditional loan appreciation for you (with a decrease in the value of the ruble).
This means the following:if the money was borrowed in euros or dollars, and the income is transferred to you in rubles, then with the growth of the exchange rate, the cost of the loan increases. For the borrower, this means an additional overpayment.
What does Sberbank offer for borrowers?
Credits of the Savings Bank in 2014 are numerous.For the summer period - the time of holidays, - Sberbank offers a new product with a reduced interest rate (from 14.5% per annum). These consumer loans in 2014 can be issued in the branches of the Savings Bank. They are issued as unsecured (then interest rates will be higher - from 15.5%), and under the guarantee of individuals. In the presence of guarantors, the loan amount can be up to 3 million rubles for a period of up to 60 months.
Is it worth borrowing in 2014, for examplemortgage? The current year in mortgage lending remains the same profitable. Interest rate cuts are not expected, as the cost of housing is constantly growing. Mortgage can be regarded as a kind of installment with an eye on the future value of real estate. Yes, the overpayment is significant, but by the time you repay the mortgage, you will not feel it. If you analyze the price increase over the past 14 years, you will see that the cost of apartments has grown 2-fold. Therefore, by the time your mortgage is repaid, your apartment will be worth the money that you paid for.
Mortgage to young families
Sberbank has developed a special mortgageprogram - youth loan for an apartment. 2014 made minor adjustments to its terms. Until the end of June 2014, undervalued interest rates are in effect - from 10.5% per year. The basic interest rate on a loan from Sberbank is 12% per year on accredited new buildings, that is, developers in advance conclude an agreement on servicing their facilities with Sberbank. Such cooperation is beneficial for everyone - the bank receives borrowers, and they, in turn, lower mortgage rates. And the developer sells as quickly as possible all the apartments in the new house.
The main feature of such a mortgage product is:
- The spouses are less than 35 years old.
- The family may be on the state list for better living conditions. The government pays for them part of the cost of a new apartment.
- Spouses must have sufficient joint income to pay mortgage payments.
Bank approval will be much more likely iftake into account the income not only of the family, but also of their relatives. Attracting co-borrowers is possible. The maximum number is 4 people. If there are children in the family, or a Maternity Capital certificate is issued, this will increase your chances for a mortgage.
Other loan products
What about car loans?Should I take a loan in 2014 to purchase a car? The reasons for this loan are not as strong. Machines, unlike real estate, only become cheaper over time. Interest rates on car loans are not so high and on average range from 8 to 15%. An eight percent loan can be obtained to buy a new car at certain car dealerships, since such an offer is stimulating demand.
And the maximum 15 percent interest rates in Sberbankpaid under the standard car loan program. Her terms are more loyal. So, you can buy a car from a private person, that is, used, or buy a new one, but from the category of expensive brands. The price of the car must be more than 750,000 rubles.
Therefore, a loan to buy a car is better to issueshort term - up to three years. Then the overpayment will not be significant compared with a decrease in the cost of a car during this period. Every year of using the machine takes about 10% of its sales value. Real estate, by contrast, only gets more expensive with time. Analysts do not foresee a decrease in its value.
