When you take out a loan, you must sign a loan agreement. If you were not a bank client before applying for a loan, your personal presence is required to sign. Another option is to apply for a loan in the application. This option is usually available to bank clients who take out small amounts. In this case, your electronic signature is used for signing.
The contract should be read carefully and questions should be asked if something is unclear. In this material, we explain what information should be in this document, what the difficulties are and what to pay attention to.
Types of credit agreements
Credit agreements can only be concluded with banks. If you borrow money from a microfinance organization, you sign another document - a loan agreement.
All credit agreements can be divided into the following types:
Secured and unsecured. In the first case, the document belarus mobile database specifies the details of the pledge or surety, in the second case, they are absent.
Short-term and long-term. Short-term contracts are concluded for a period of up to 12 months, long-term contracts are concluded for a period of one year.
With legal entities and individuals. Companies and private borrowers can take out a loan.
Targeted and non-targeted. A targeted loan is issued for specific purposes - for example, to purchase real estate (mortgage) or a car (car loan). The funds received must be used specifically for this purpose, and the financial institution will require confirmation from you. Non-targeted funds can be spent on anything.
A loan agreement is also signed if you apply for a loan
card or refinance a loan taken from another bank. Refinancing can be classified as a targeted loan, since you are required to spend the funds for a specific purpose and report to the bank.