How to get a loan from a foreign bank. Is it possible to take a loan from a foreign bank and spend it in Russia

Take out a loan abroad very profitable, because everyone knows that in Europe you can get a loan at four to six percent per annum and in all foreign banks the rates are much lower. Foreign banks are quite serious about all borrowers who want to take out a loan abroad.

By lending to borrowers not out of their own country, the bank is at risk, because the borrower may lose solvency and it is no longer known how this situation will end. In addition, a legal conflict may arise, because countries have different laws. If you want to go abroad or get mortgage abroad you should take a foreign exchange license from the state bank of your country. Most people who open a deposit account abroad have not even heard of this requirement, and due to its non-compliance, you can easily get criminal liability.

Getting a loan abroad is easy and foreign banks do not require permission, but here Russian legislation takes very strict liability measures if you carry out any financial transactions abroad without a license. Monetary legislation will impose a fine on you in the amount of a loan received abroad, and the criminal code can impose corrective labor or imprisonment for up to four years.

You will need a license from a state bank in the following cases:

1. obtaining a loan abroad;
2. acquisition of real estate or securities;
3. opening a deposit account.

In addition, if you want to buy property abroad on credit, you should get three licenses from the State Bank of Russia: a license to obtain a loan, a license to purchase real estate and a license to open an account.

If you want to buy overseas real estate, then here you should take a mortgage loan abroad, because Russian banks do not issue mortgage loans to purchase real estate in any other countries. And all this is due to the fact that the cost of the procedure for checking real estate objects abroad is very high.

Mortgage loan abroad is much more profitable and the average fixed rate in the US and EU countries is somewhere around 3.5% -6% per annum, the loan amount is from 60% to 80% of the value of the purchased property, and the term for which the loan is issued is thirty years. It is easy to get a loan abroad in such countries: Spain, France, Great Britain, Cyprus, Germany, Israel. The lowest mortgage rates abroad in Israel and Finland. Average mortgage rates with EU countries are approximately 3.1% and up to 5%.

The currency in which you will receive a loan abroad is better to choose from the period for which you will take a loan. If the term is from one to three years, it is better to take a loan in euros, because the exchange rate of this currency is this moment reflects the weakness of recovery processes in the European economy. You can’t get a loan abroad in rubles, so you need to choose from euros and dollars, because of this, a borrower who has income in rubles bears currency risk, and due to constant fluctuations in exchange rates, the loan will either become cheaper or more expensive.

Sometimes there is an urgent need for additional funds: the purchase of housing, expensive treatment, the desire to educate the child in a reputable university. All this forces people to look for sources of financing. When expanding a business, most companies also need to raise borrowed funds. Considering the huge interest rates in Russian banks, many borrowers are interested in finding more profitable loan abroad.

Benefits of lending abroad

The popularity of foreign lending is due to a number of undeniable advantages:

Lower interest rates and, as a result, less overpayment are the main advantage of foreign loans. In Russian banks, their size is 6-8 times higher than the rates in the US and European countries.
Flexible loan terms.
High reliability of financial institutions.

More attractive lending conditions are possible due to the wide access of foreign banks to "long" credit funds, because investors invest for long periods - at least 1 year.

It might seem that a bank should set the same lending conditions in all branches located outside its country of origin. In fact, subsidiaries operating in the territory of the Russian Federation are obliged to be guided by the requirements of the Russian market. In this regard, the conditions for issuing loans are not more profitable than the offers of Russian banks.

Therefore, in order to save money, you need to take a loan outside the Russian Federation. However, it should be taken into account that banking structures lend to non-residents only if the funds are used on the territory of their state.

In theory, anyone has the right to apply to a foreign bank. Banking organizations also make a profit thanks to the lending service. The main role of credit in the economy is that those who need additional funds can meet their needs at the expense of investors.

In fact, it is likely that the bank will not want to deal with foreign borrowers, even if the institution has a corresponding loan offer.

Large banks prefer to limit the number of clients to citizens of the country or at least residents - legal entities or individuals permanently registered / residing in its territory.

This is not surprising, because lending to foreigners is associated with increased risks for the bank. One of the reasons is that the consideration of a credit dispute takes place according to the laws of the country of citizenship of the borrower.

Another reason for refusal is the difficulty of assessing the solvency of an individual residing in another state. The bank is unable to verify the accuracy of income and property statements.

The resident adheres to the laws of this state, regularly pays taxes and has a legal source of financing (salary or other income).

Thus, the highest chances of obtaining a loan abroad are for a Russian citizen who:

permanently resides abroad;
received a residence permit in the country of application for a loan;
works under an employment contract;
carries out entrepreneurial activity abroad;
has real estate in this country, a deposit bank account or a good credit history.

If the applicant owns real estate, rents it out and pays taxes to the state budget, in some countries he is considered as an entrepreneur (Italy, Finland and others).

Each country has its own terms of cooperation with foreign clients, which are not always interesting for applicants. For example, one of the mandatory requirements of Spanish banks is a certificate of no loans at home.

Japanese financial institutions lend to Russians only if the guarantor is a citizen of this country. Its task is to confirm the solvency of the client, and not to repay the loan in case of non-payment. The debt unpaid by the borrower after his death passes to the heirs.

Some banks in Germany require the client to transfer a certain amount to a deposit account. So they insure themselves for a certain reserve of funds if the borrower does not repay the debt on time.

Interest rates on loans around the world also differ. Thus, the minimum interest is returned by clients of British banks (from 2%), the highest rate is valid in Bulgarian banks (11%).

The maximum amount of loans also varies - Bulgarian financial institutions are ready to apply for a loan from 5,000 euros, in Switzerland you can request up to 400,000 euros.

Depending on the size of the loan and the debt repayment scheme, the terms can be 5–40 years. Lending for more short term disadvantageous for the borrower, and is limited by the laws of many countries. This is due to large monthly payments, the amount of which cannot exceed 30% of the client's income. In Poland, this figure is 50% of income.

If your goal is to take out a loan for the purchase of real estate, it is advisable to arrange a mortgage in the state where the transaction is planned.

The country	Maximum loan amount	Annual rate (%)	Term	Additional features
Germany	Up to 60% of the value of the object	1,5 – 3,5	5–30 years	The term of the loan depends on the age of the borrower and his marital status. Non-residents receive a mortgage in the amount of up to 50% of the value of the object.
France	Up to 80%	from 3.15 (fixed) from 2.4 (floating)	5–30 years	Annual fees: real estate tax (average amount - about 0.5% of the cost of the premises - depends on the type of object, city and infrastructure; accommodation tax even for tenants (1000-4000).
Italy	Up to 70%	3,6–5,15	5–30 years	Residential properties only starting at € 300,000. Minimum loan amount € 50,000. The client is obliged to insure housing and pay for notary services.
Spain	Up to 70%	3,5–5	5–40 years old	Initial payment from 30%.
United Kingdom	Up to 70%	2,5–4	5–20 years	Minimum amount £350,000

Although in general lending is potential danger for a bank, getting a mortgage loan is easier than any other. The purchased object is a guarantee of the client's solvency. The main condition is that the property must be located in the country of the creditor.

If the borrower plans to issue a loan secured by real estate located in the Russian Federation, the risk of refusal is high. The fact is that such a mortgage agreement is subject to Russian law- it must be registered in the EGRN (Unified state register real estate), and legal disputes are considered by the court of the Russian Federation, which is disadvantageous for foreign creditors. In addition, Western financiers question the liquidity Russian real estate. Another thing is if the applicant takes a loan secured by a foreign object.

It is difficult for a non-resident to obtain consumer credit in a European or American bank. Organizations are more willing to cooperate with holders of a legal residence permit. The conditions for processing a transaction for citizens of the country and residents are practically the same.

The main purpose of consumer loans is the purchase of a car, large-scale home repairs, education. In the latter case, a loan can be taken not only to pay for the university, but also for courses, internships, master's programs (funds are credited to the account educational institution). Many banks issue a matched loan to cover living expenses.

The country	Maximum amount	Annual rate (%)	Term	Additional features
Germany	€ 100 000	1,69–6,9	1–6 years	Banks calculate the interest and term based on the individual capabilities of the client (monthly income minus mandatory payments).
USA		2–3,5	1–5 years	To get a car loan, the borrower must have a good credit history. One of the main conditions for a foreign student is the presence of a guarantor from among US citizens or residents living in the States for at least 2 years.
France	No more than ¼ of the applicant's annual income	From 5	3 months - 3 years	When issuing a loan, you need a guarantor. One of the requirements is the "domiciliation" of income (the borrower's income is transferred to a bank account so that the bank can control the payment process).
United Kingdom	£500–10,000	6,5	Up to 5 years	The bank automatically insures the client in case circumstances prevent him from repaying the loan (this increases the amount of the monthly payment). When submitting an application, you can cancel the insurance by notifying in writing.

Experts recommend paying attention to the peculiarities of consumer loans issued to citizens who are in the country on the basis of a visa - the period of lending is affected by the validity of the visa permit. Therefore, it is advisable to obtain a long-term visa in advance.

When expanding a business outside its own state, an entrepreneur will sooner or later wonder if it is possible to take a loan in another country. Banks around the world generally have a positive attitude towards foreign businessmen. If they pay taxes, create new jobs and participate in the development of the local economy, getting a loan is not so difficult.

In a number of states, for example, in Germany, there is a program of state banking support for start-up entrepreneurs. By presenting an effective business plan, you can count on the minimum rate (up to 3%) with a delay in repayment of the loan body and interest for up to 2 years.

The country	Loan amount	Annual rate, %	Term	Additional features
Germany	Up to 500,000	2,63– 3	5–15 years	If the loan is issued without a capital contribution, the client will receive up to € 100,000. To receive a larger amount, you will have to contribute your capital in the amount of at least 10% of the loan amount. Loan repayment starts after 7 years.
Spain	Up to €150 million	3,5 – 7	Up to 5 years	European law requires that loans be granted only to companies that earn income in Europe or are registered in the EU.
Sweden	Up to 600,000 CZK	Calculated individually	Up to 15 years	To provide banking services to foreigners, a special permission of the branch director is required.
Israel	Up to 750,000 NIS	3–9	Up to 5 years	If the guarantor of the loan repayment is the state small business support fund (Keren bearvut amedina), you can get a loan without collateral.

Banks are aware that the creation new company may be associated with some risk, so usually a commercial loan is issued at a higher interest rate than a loan for personal purposes.

Loan rules

In most domestic banks, it is enough to present a few basic documents. You can get a loan abroad only if you have a solid package of documents, and even then if the applicant meets a large list of requirements. Here are some of them:

Absolute transparency of sources and use of funds.
"White" (officially confirmed) income or profit.
The presence of liquid property that can be used as collateral for a loan.
No tax debt to your country and unpaid loans.
Availability of guarantors or guarantees from the banks of the country of residence.
Ready-made business plan (for entrepreneurs).

Important to know: financial transactions outside the country of residence should be reported to the tax service. In addition, when opening an account abroad, it is necessary to send a notification to the tax authority within a month. Violation of this order is fraught with a substantial fine:

per citizen: 4,000 - 5,000 rubles;
for an official: 40,000 - 50,000 rubles;
on the entity: 800,000 - 1,000,000 rubles.

Citizens of Ukraine and Belarus must obtain a license to open an account with a foreign financial institution.

The fine for her absence in Ukraine can reach 500 minimum wages and even end with a long term of corrective labor (up to 2 years). Illegal activities will be stopped, and the contribution and proceeds will be confiscated in favor of the state. Thus, this issue should be settled while still at home.

Choice of crediting country

Assess the availability of credit in different countries It is possible on the example of the most demanded type - mortgages. To do this, we conditionally divide all countries into four groups:

Optimal loan terms and acceptable interest rates: Cyprus (from 5%). Usually, foreign borrowers are allocated an amount of € 75,000.
Mortgages are available, but lending conditions are less attractive (interest rate from 11.2): Portugal, Spain.
Mortgages are theoretically available, but harsh requirements reduce the chances of getting a positive response to zero: Austria, Great Britain, Italy.
Mortgages for immigrants from the CIS countries are practically inaccessible: Switzerland, Japan, the United Arab Emirates, the Czech Republic, Montenegro, Romania and Switzerland.

In a number of countries, authorities have introduced procedural and territorial restrictions on foreign borrowers. For example, in France there are very few banks willing to lend to non-residents.

Before contacting a bank, you should decide on the type of loan, because there are a lot of them in any lending market. First you need to understand what is the difference different types loans. They are usually classified according to several parameters:

Target. Depending on how the funds will be used, loans are targeted (for the purchase of a car, training, and so on) and non-targeted.
Yield. A loan can be productive (loaned money generates income) or consumer (intended for the personal needs of the borrower).
Lending terms (short-term (up to 1 year) and long-term loans - over 12 months).
Currency.
Repayment scheme. The annuity method involves the repayment of the debt in the form of equal parts. In this case, the rate does not change until the end of the contract. The classic way of repaying the debt is more profitable - the bank charges interest on the balance of the loan body, which gradually reduces the amount of the payment and the final overpayment. Sometimes a monthly interest payment is offered, and the body of the loan is returned at the end of the term.

To understand which loan is preferable, many use the advice of credit consultants or special services on the websites of financial organizations.

The next step is choosing a bank. Here are some things to look out for when choosing a financial institution:

does this bank lend to foreigners;
whether loan repayment schemes are beneficial for the borrower;
what is the reputation and credit rating of the bank;
the complexity of the procedure for obtaining a loan;
rates and additional fees.

When applying for a mortgage or a large loan to open a business, you should seek help from a company that conducts real estate transactions in the desired country.

As a rule, such firms are familiar with the real estate market and local laws, so they will help you choose the right property and collect required documents. Without knowledge of the language, the applicant will easily get lost at sea commercial offers and legal requirements.

Required package of documents

Clients complain about red tape in domestic banks, but getting a loan abroad is no easier. The minimum package of documents includes:

international passport;
a document legalizing the stay of a foreigner in the country (visa, residence permit, temporary residence permit);
income statement (not less than 1–2 recent years) and everything that indicates the solvency of the applicant (availability of funds for the down payment, payment for services for processing the transaction);
certificate from the tax office on the absence of debt;
Information about monthly payments(alimony, repayment of another loan, and so on);
labor contract;
certificate of real estate;
confirmation of the place of residence and contact details of the applicant;
permission to conduct foreign exchange transactions outside the native country (for Ukraine and Belarus).

Some banks, such as German ones, require you to provide a certificate of family composition.

It is often helpful to confirm that the applicant is a client of a reputable banking organization at home.

All documents must be translated into the language of the country in which the bank is located and certified by a notary.

There are many subtleties associated with applying to a foreign bank.

If you plan to take out a loan, try to get a residence permit or at least a temporary residence permit, as well as get a formal job. The longer the applicant lives and works in the country, the higher the chances of obtaining a loan.
If you have money, you can first put it in a deposit account in one of the banks in the country (or where the loan is planned). It is recommended to apply to several banks.
Another important point, which you need to consider before contacting a financial institution, is the currency of the loan. Usually banks finance the purchase of local real estate or the opening of a company in national currency. If you apply for a loan in euros, but receive income in rubles, please note: the devaluation of the ruble will increase the cost of the loan. Getting a loan in Swiss francs increases the risks - after the 2008 crisis, the exchange rate of this currency rose, so loans became more expensive. Ideally, the loan currency should match the income currency.

Many applicants entrust the choice of the optimal loan offer to intermediary organizations or use the experience of their compatriots by asking questions on forums dedicated to living conditions in a given country.

Frequently asked Questions

Is it possible to apply for a loan in a foreign bank online

There are three ways to use the foreign loan service:

submit an application during a personal visit to the bank;
apply for an online loan;
contact a consulting or real estate firm in your country.

Citizens of Russia, Ukraine and other CIS countries can receive money in a foreign bank via the Internet only through special representative offices.

Some banks, for example, DenizBank (Turkey), make a preliminary decision based on a scanned package of documents sent electronically.

Is it possible to take a loan abroad to buy a home in Russia

If the loan funds are spent at home, the borrower will have to pay a substantial commission for transferring money to his account. This operation will be of interest to tax authorities countries, because the receipt of funds into the account is income.

It is quite possible to “bring” the received credit funds under this definition. Thus, taking into account the interest rate, associated costs and the total cost of the loan, the transaction may not be of particular interest.

Can I get a student loan from a foreign bank?

Given the high cost of education, many universities cooperate with partner banks that are ready to provide students with a loan for study. To obtain a student loan, you can apply for a guarantee in the international department educational institution. In addition to a passport and basic certificates (about the absence of debts and financial solvency), the package of documents for the bank includes a student visa and an agreement with the university.

Which countries have Sberbank, where you can get a loan abroad

The main office of Sberbank Europe (Sberbank Europe AG) is located in Vienna (Austria) and is subsidiary Sberbank of Russia. The bank operates in 10 European countries:

Austria;
Bosnia and Herzegovina;
Hungary;
Germany;
Serbia;
Slovakia;
Slovenia;
Croatia;
Czech Republic;
Ukraine.

Since 2012, Sberbank has owned a 99.85% stake in Turkish DenizBank (599 branches and 5.4 million customers).

Sberbank loans abroad differ from Russian analogues lower interest rates, but they are not as attractive as credit products in pure European organizations. But for Russian clients of Sberbank in the Russian Federation, it is much easier to collect a package of documents.

Conclusion

Theoretically, our compatriots have no legal restrictions on applying to a foreign bank for a loan. But many face practical difficulties, starting with strict requirements for the applicant and an extensive package of documents, and ending with the unspoken reluctance of foreign financiers to work with non-resident borrowers from the CIS countries.

How to make money on English banks. Banks in UK.

Let's imagine this situation: you went abroad, and suddenly you needed to get cash on loan. And although today loans to individuals received abroad are not very popular, but in a few years, according to experts, Russians will begin to give preference to such types of loans as non-targeted loans. cash loans taken from overseas. In this article, together with experts, we will tell our readers about how it is more profitable to get a loan while in another country.

Features of lending outside the Russian Federation.

As experts explain, residents of our homeland have the right, being outside Russia, to use any banking services in any state that currently exists, but take into account the laws of this state. So, for example, in any country of the European Union, you will have no problems accepting money as money, upon presentation of a foreign passport. But American banks will not show such credulity, and will require from you not only a passport, but also social status, a certificate of work or income in the United States of America.

Therefore, if you are planning to get a consumer loan in the USA, the best option for this there will be a loan through acquaintances, relatives or friends living in the states permanently and having official income there. Another option could be the registration of a small business, since in America, unlike Russia, financial institutions are much more willing to issue than consumer loans.

But even in this case, experts assure, it is very, very difficult to take out a loan on your own and not use the services of intermediaries, especially if you want to get a serious amount of money on a loan. A simpler and more profitable solution for obtaining a loan, both for individuals and for businesses, will be to contact the borrower with specialized intermediaries or, as they are called abroad, a consulting company.

So, for example, according to experts, for the purposes for which the inhabitants of our country take loans, this is a purchase household appliances, cars, getting an education, buying a home and developing your own business.

What is required from the borrower in order to obtain a loan abroad. As a rule, the standard package of documents intended for obtaining a loan from a foreign bank includes such documents as a passport, extracts from the personal account of a potential borrower, a document confirming income, and information about the property owned. In addition, some banks may require you to provide them with documents about the family composition of a potential client.

If you decide to seek a loan yourself, without the participation of intermediaries, you should be prepared for the fact that almost all banks will impose increased requirements on a borrower from Russia. So, for example, an indispensable condition for applying for a loan may be a long-term work or study visa and permanent employment in a country where there are branches of a financial institution. What can we say about such a loan as a mortgage, which is simply impossible to obtain without a long-term visa, to get a loan for more long term than a visa is impossible.

There is no person in our country who would not dream of taking a loan abroad. This is all due to the fact that in Europe the interest rate is significantly lower than in Russia.

In this article, we will tell you about how a citizen of the Russian Federation can take a loan abroad, whether a Russian can take a loan from a foreign bank and put it on a deposit in his country, and so on.

How can a Russian get a loan abroad?

Any adult can apply for a loan in a foreign bank, in any currency. In most countries, the age of majority is 21.
The required amount will be issued only after conversion in national currency. The maturity period is from 10 to 30 years.

A citizen of the Russian Federation can take a loan from a foreign bank while in Russia, only with the help of representative banks, it is impossible to receive funds on the terms that would be available abroad, because there are subsidiaries here. They work on the basis of the current law of our country.

How to get a loan abroad at a low interest rate?

For comparison: in Russia you can get a loan with an interest rate of 15-20%, and abroad - about 6%.

Take a loan from foreign banks, mostly residents. In addition, there are several nuances that you should pay attention to:

A person wishing to take on a loan obligation must have a residence permit or reside permanently in the territory where he intends to take out a loan;
Regularly pays taxes;
Has some property in the country;
Arranging mortgages for real estate abroad;
Does not have a negative credit history in their country;
There are relatives in the creditor country.

Of all the options listed, the last one is the most convenient. It is the most inexpensive and most real.

Red tape with documentation in Europe, no less than in the Russian Federation. You must provide:

International passport;
Certificate confirming your income;
Documents from the tax office that confirm the fact that you do not have any debts;
Documents confirming your regular expenses;
Labor contract;
All documents for real estate ownership in the Russian Federation;
Documents that confirm the authenticity of the place of residence and other information about the potential borrower;
Other references at the request of financial institutions.

Credit abroad through the Internet online

You can get a loan abroad via the Internet only by using the services of Web Money or other similar organizations. The amount disbursed will not be large, in addition, the loan term will also be short.

Can I get a loan abroad to buy a home in Russia?

Taking a loan in Switzerland or any other country at a low interest rate, in order to later buy an apartment in our country, is quite realistic. You need to go through several stages:

You need to open an account in a foreign bank, then notify the Central Bank of the Russian Federation about this. The loan itself will be registered. This will have no consequences for you;
Make a pledge. The liquidity of property, guarantee, bank rating is extremely important;
details of this project.

Find a good consulting company. Experts will assist you from the beginning to the end of the whole process.

How to take a loan abroad and put it on a deposit in Russia?

The easiest way to take a loan is for those who received a residence permit in foreign country, is a resident. Many financial institutions, when issuing money, are not interested in what purposes they will go for. However, some enterprises provide funds only for certain needs. For example, to buy an apartment. So, you should carefully consider the choice of the bank.

Can I get a mortgage loan abroad?

If you want to take out a mortgage abroad, this issue needs to be studied in detail. In countries such as Cyprus, Morocco, Spain, it is easiest to get a mortgage. It is enough to present a passport and a certificate of your income. You will also need to open an account in one of the banks in the country. In the Emirates, a mortgage is issued on the same terms, in addition overall size income must be at least $10,000 per month. The maximum mortgage term for foreigners is 12 years. It is difficult to get a mortgage in Switzerland, Italy, France, England, Germany.

Abroad, interest rates on loans are 3-4 times lower than in our country. But is such funding available to Russian citizens? From the article, you will understand whether foreign lending is really profitable and find out how you can get it.

What is a foreign loan

Foreign loan - sum of money, received at interest for a specific period in a bank located in the territory of another state and operating according to its laws.

Important! And there are enough foreign banks in Russia. But the terms of lending in them do not differ from those offered by Russian financial institutions.

In other words, to obtain a loan on foreign terms, you must contact a bank representative office in the selected country.

Most often, a personal visit is required, but in some cases, you can apply while in Russia via the Internet.

Advantages and disadvantages of a loan in a foreign bank

Lending abroad has only one significant advantage - the ability to take the amount at a low interest rate. If in Russia a consumer loan is issued on average at 17-20%, then in foreign banks the amount can be obtained at 3-4%.

The disadvantages of such lending are much more:

The loan is issued in foreign currency. When the exchange rate rises, the value of money will increase, you will need to pay more. However, if the rate drops, then you will have to pay less. But practice recent decades in relation to, for example, dollars or euros, shows the opposite.
High commission. Paying a loan in foreign currency from Russia, you will need to regularly pay increased fees for international transfers.
The need to pay taxes. A loan from a foreign lender may be recognized as personal income, which is subject to tax.
It is impossible to pledge property in Russia. Only objects located on the territory of the selected country are accepted as collateral.
Mortgage restrictions. Money is issued only for the acquisition of real estate located within the selected state.

For myself, to the question of whether it is worth applying for loans to foreign financial institutions, I answer in the negative - there are too many shortcomings, and the current rate "eats" all the benefits from the difference in rates. But if you want to get such funding, then below is the instruction on how to do it.

Is it possible for a Russian citizen to take a loan from a foreign bank

There are no legal restrictions on obtaining such a loan - the law does not prohibit obtaining loans from foreign creditors.

But in practice, foreign banks are rarely ready to lend to citizens of other states. The reason is obvious - if the borrower does not repay the debt, then it will be problematic to get him to fulfill his obligations.

That is why many foreign credit organizations in the rules for providing borrowed funds immediately indicate that funds are not issued to citizens of other countries. However, there are a few tips that can help you get the right amount Abroad.

How to get a loan abroad

As a rule, foreign financial institutions are ready to consider the possibility of issuing a loan to a citizen of the Russian Federation if he has a residence permit or a work visa. Also, factors that can positively affect approval include:

the presence of a savings or savings account in the selected bank;
the ability to provide a solvent citizen of the selected state as a guarantor;
the presence of property in the country of lending;
writing financial plan on the return of the issued amount.

Organizations are more willing to receive funding than individuals. But when drawing up a loan agreement for a company, spending money on personal needs will be illegal.

To apply for a loan in a foreign bank, a Russian citizen must:

Choose a country with optimal conditions. Look not only at interest rates, but also at the general economic situation in the state. Pay special attention to the currency and the volatility of its exchange rate.
Collect all the documents that positively characterize you as a borrower. These can be income statements, documents on ownership of an apartment or car, deposit agreements, etc. Take care of notarization and translation of papers into official language the country in which the creditor is located.
Contact the bank. It is better to do this in person, but in some cases, remote consideration of the application is also possible. Regardless of the chosen method, justify your goals and prove your solvency - the bank must see you as a reliable borrower.

It will be great if, before applying, there will be an opportunity to study information about the credit experience of compatriots in this bank. This way you will know which aspects to pay special attention to.

Expert Answers

Is it possible to take a loan from a foreign bank and spend it in Russia?

This is not prohibited by law. But be prepared for the fact that you will need to pay tax on the amount received.

There are also mortgage restrictions. If you take a loan from a foreign bank, then you will need to purchase real estate in the territory of the selected country.