Banking products. Introduction of a new banking product for individuals New loan products for individuals
VTB is one of the largest banks in the Russian Federation, with more than a thousand offices throughout the country. Focusing on both individuals and legal entities, VTB offers a wide range of its services.
Bank offers for individuals
VTB services for citizens include the following areas:
- Consumer loan issued to individuals.
- A car loan, that is, a loan to buy a car.
- Credit cards are a popular method of replenishing your cash reserves.
- Mortgages are long-term loans for the purchase of real estate.
Services such as cash settlement, collection and SME loans are available to legal clients.
VTB loans to individuals - interest rates
Loans are the main banking product that VTB focuses on. As of the end of March 2018, this line is presented as follows:
- “Large” – the amount received ranges from 500,000 to 3 million rubles for 6-60 months. The rate is 11.9% – when filling out an application on the bank’s website. When registering at a branch – 12.5%. If you receive money on a VTB card, the rate for salary clients will be reduced (to 11.9%). Other opportunities are also provided, for example, clients receiving salaries on a VTB card can increase the amount to 5 million rubles. Also on the official website you can find a calculator showing the forecast for early repayment.
- “Convenient” – the amount offered is from 100,000 to 499,999 rubles for a period of 6 to 60 months. Rate from 11.9% to 19.9%, when applying online.
- “Mortgage bonus” – from 500,000 to 5 million rubles, terms of differentiated or annuity payment – 6-60 months. The rate is 12.5%.
VTB loan without certificates and guarantors
For salary clients, the bank is ready to reduce document requirements. Only a passport of a citizen of the Russian Federation and an insurance certificate (SNILS) will be enough.
No guarantor is required for lending, nor is a guarantor's collateral required. Moreover, today fewer and fewer banks resort to such measures of research of a potential client.
Car loan
Car loans provided by VTB may vary depending on the type of vehicle purchased:
- New car (ex-showroom) – rate 10%, for a period of up to 7 years.
- Used car – rate from 9.9%, term – up to 5 years.
- Commercial funds can be purchased for a period of up to 5 years, with a rate of 18.2%.
The interest rate is set individually for each client.
Mortgage
Mortgage options offered by VTB cover both the new and secondary real estate markets. Interest rates do not differ - from 9.1% per annum. The down payment will be from 10%.
Loan for military members of the savings-mortgage system for the purchase of finished or under construction housing, up to 2,435 million rubles, up to 20 years, from 9.3% per annum. When purchasing an apartment from 65 sq.m., the loan rate is lower by 0.7%, from 8.9% per annum, from 20% for the down payment.
VTB is also ready to provide refinancing of your mortgage, with an interest rate of 8.8 percent per annum.
Requirements for borrowers and list of documents
VTB Bank's requirements for its clients may vary depending on the specific product and credit history. But, the basic standards can be considered the requirements for clients who want to apply for a consumer loan.
Basic requirements: citizenship of the Russian Federation, as well as registration in the region served by the regional branch of the bank. Considering the size of the branch network, the requirement is not high.
The list of required documents for citizens who are not holders of a bank salary card from VTB is as follows:
- A valid passport of a Russian citizen aged 21 years or older. Contrary to popular belief, it is almost impossible to get a loan from the age of 18.
- Insurance certificate of state pension insurance (SNILS).
- A “fresh” 2-NDFL certificate or a certificate in the bank form about income for the last six months, certified by the seal of the employer’s organization.
- To receive a loan in an amount exceeding 500,000 rubles, the borrower will need a copy of the work record book or employment contract, certified by the human resources department at the place of work.
At the request of the bank, additional documents may be requested.
Review of VTB Bank deposits for individuals for 2019
For 2019, VTB Bank offers its clients 3 deposits. These are the products “Profitable”, “Replenishable” and “Comfortable”. Return rates are 6.69%, 5.82%, 3.82% respectively. “Profitable” cannot be additionally topped up or withdrawn from it.
“Replenishable” makes it possible to increase capital, but also does not have premature withdrawal. “Comfortable”, in turn, offers both services. The minimum deposit amount is 30,000 rubles. The terms are up to 1830 days, in each product.
With the active development of the banking system, financial companies themselves are actively developing, and the range of their offers is also growing, which today are very diverse: some of them are in high demand, others are in slightly less demand. But, be that as it may, there are a number of the most relevant banking products that are most in demand today among the country's population - individuals.
Credit card
The first and perhaps the main product of the bank is a credit card, which until recently was viewed with suspicion, but this was not the case for a very long time. Today, cards in the country are widely used in daily life by millions of people. It has even gotten to the point where credit cards are issued regardless of whether it is needed or not. But we have to agree that a credit card is a kind of “magic wand” that can help its owner in difficult financial times.
A credit card, being a revolving loan, allows its holder to use borrowed funds (of course, within the established credit limit) practically throughout the term of the credit card. Today, banks have also introduced some know-how in the card business - credit cards with a grace period for lending. They enable their owner to carry out non-cash transactions on the account, and, subject to the return of money for a certain period on time, not to pay interest on the use of money. 
Consumer loan
The next banking product, which is on a special account among the population of the country, is a consumer loan. Undoubtedly, for those people who do not have credit cards, this type of loan is the most optimal way to solve their financial problems. If until recently consumer lending was targeted, today banks are increasingly offering loans without a specific purpose, that is, if you take the money, do whatever you want with it. Of course, with the help of a consumer loan, you can make all your dreams come true: from buying the latest household appliances and furniture to purchasing a tourist package. 
Car loan
Probably, today the only opportunity for an ordinary citizen to become the owner of a vehicle is to take out a car loan. Yes, this is very convenient, because it gives an individual the opportunity to buy a car, use it and repay the loan, rather than, for example, collecting money for many years to buy a car. In this regard, this banking product is also very, very popular among citizens of the Russian Federation.
Speaking about car loans, it is necessary to mention that today they are provided not only for new vehicles, but also for those that have been used. Agree that foreign cars in our country, even if they are more than five years old, are in much greater demand than new domestic cars. As sad as it may be, the fact remains. That is why loans for the purchase of foreign used vehicles are especially relevant today. 
Mortgage credit lending
Speaking about mortgage lending, it should be said that only those who have hearing problems have not heard of this type of banking product. Today, this type of loan is on everyone’s lips; a huge number of citizens of the country have either already taken advantage of mortgage lending or are planning to do so in the near future. Such demand for this financial product is explained by the fact that with its help you can solve your problems with residential real estate. Today, banks are ready to offer their potential or existing clients loans for the purchase of housing in the primary and secondary real estate markets. In addition to financing the purchase of finished housing, banking institutions are ready to provide loans under a mortgage for the purchase of a land plot, an unfinished building, or to finance construction work. As you can see, there are a lot of mortgage lending options, which is why this banking product is in such high demand. 
Refinancing
Relatively recently, such an offer as refinancing (refinancing) appeared on the financial services market. Banks resorted to this tool with one sole purpose - to intercept clients from other companies and transfer them to service.
It is worth agreeing that such actions are quite satisfactory both to the bank (which carries out the refinancing, since it receives the client), and directly to the client, who is in the “plus”, since he received a loan to repay the existing loan at a lower interest rate. In this situation, the only “fool” is the bank that provided the loan to the client first.
Of course, in addition to current credit banking products, there are a number of others that are in high demand among the country’s population. We are talking about the following financial proposals:
- deposits or bank deposits (enable depositors to passively earn dividends. There are time deposits, time deposits with capitalization and perpetual deposits, respectively, each type has its own annual interest rate);
- money transfers (make it possible to send/receive funds all over the world, from a few minutes to several days. Today, with mass labor migration, this type of banking service is in great demand, since it allows relatives to financially support one or the other over a long distance);
- currency exchange (this type of purchase and sale of currency in banks is in high demand because it eliminates any possibility for the client to fall into a financial scam, which, you see, happens quite often in our country);
- payment for services (enables clients to make payments for utilities, pay for goods, work, services, etc.).
The above banking products are the most popular in the country today. Each banking institution is simply obliged to have these financial offers in its arsenal, and the more affordable the tariffs, the more clients the organization will have.
Products in the banking market are banking products and services provided by the bank to clients or other banks.Banking products. like the products of any enterprise, they are the result of the activities of a credit institution and are offered as a product in various segments of the banking market. A distinctive feature of banking products is their intangible, monetary nature. Types of banking products correspond to certain areas of activity of a credit institution - traditional, additional and non-traditional. The bank's functional divisions are responsible for certain types of products. Banking products are linked to certain money market instruments.
Traditional products include credit, deposit (opening and maintaining accounts), settlement, investment, issuance and servicing of plastic cards. Additional products accompany the traditional ones - collection, transportation of documents and valuables, currency conversion, calculation and risk management, risk hedging. Non-traditional products include the execution of trust transactions, factoring forfaiting and leasing products, consulting and information products, issuance of guarantees, depository products, storage of client valuables, etc.
Banking services are a type of specific intangible banking product and are expressed in the actions of the bank aimed at meeting the specific needs of the client of a monetary nature.
The classification of services within a given product may be based on the nature of the service determined by the money market instrument, client or currency attribute, form of price for the service, etc. Table 5.3 shows the model of the relationship between bank products and services using the example of five types of banking products. Table 5.3
Banking products and services Banking products Banking services 1. Credit products 1.J Lending to legal entities based on opening a credit line
Lending to legal entities via overdraft
Lending to legal entities using a current account
One-time targeted lending to legal entities
Project lending
Lending on a syndicated basis
Mortgage credit lending
1 8. Lending to individuals for housing construction 1.9. Lending to individuals for consumer purposes! goals etc. 2. Deposit products (opening and maintaining accounts) 1.3. Opening and maintaining accounts for legal lines: demand accounts
urgent deposits
Opening and maintaining accounts for individuals: demand accounts
time deposits savings deposits
Opening and maintaining correspondent accounts (LORO accounts)
Opening and maintaining time deposits of other banks, etc. 3. Settlement products 3.19. 3.1 Payments by payment orders
Conducting clearing settlements
Payments by checks
Making payments Documentary letters of credit
Collection
Acceptance and transfer of payments from individuals to the accounts of legal entities
Acceptance of funds from authorized persons into transit accounts and transferring them to the accounts of legal entities
Transfers 3 11. Transfer of an individual’s deposit
3 12. Payment of a settlement check
3.13. Reception and transfer of tax payments
3 14 Acceptance of utility payments
Payment of foreign currency transferred due to foreign exchange
Sale of traveler's checks 3 17. Payment of traveler's checks
3 18. Acceptance of payment documents in foreign currency for collection
Bank transfers by phone
Crediting cash contributions to an individual's account 3.21 Withdrawing cash from an account, etc. 4. Issue and maintenance of bank cards 4 1 Legal lines: Visa Business;
Eurocard/Master Card Business; Visa Classic “Salary”; “Salary*; Electron “Salary”, etc. 4.2. Individuals:
Visa Classic;
Eli rocard/Master Card Mass; Visa Gold;
End Pank Banking products Eurocard Master Card Gold; Visa Gold “Privileged”; Visa Gold “Preferential”; Visa Gold "Executive"
5. Investment products
5.1 Issuance and payment of savings certificates
Sale and payment of bonds of the state internal winning loan
Sales and payment of coupons on government savings loan bonds
Issuance and payment of promissory notes
Issuance and payment of deposit certificates
Equivalent exchange of bills
Purchase and sale at the expense and on behalf of the client of securities tradable on:
ORTSB
b and rzhe on the m market shіebnrzhe po ry n KBanking operations - technical, accounting, financial and other techniques and methods of operation of the bank, the totality and a certain combination of which is expressed in the technology of creating a banking service. Models of banking operations are given in table. 5.4.
Banking products, specified in banking services, are goods that are sold at a certain price.
More on the topic Banking products (services) offered on the market:
- 2.1. Methodology for determining a bank's restructuring needs
- 2.2 Classification of commercial bank services for portfolio formation
The banking services market is considered as a set of relations that arise between existing banks and their clients regarding the creation and implementation of an appropriate set of banking services in a certain territory.
The characteristic features of the banking services market are highlighted. These include: the lack of new sources of attracting long-term deposits; a significant proportion of banks with low authorized capital; low concentration of banking assets in basic sectors of the economy; a high proportion of loans provided to trade and other commercial structures; the presence of high weighted average interest rates on loans and low rates on deposits; a high share of debt for amounts previously provided to business entities in loans.
Therefore, it is necessary to seek areas for improving the procedures for opening and maintaining bank accounts for clients, expanding investment services, which ensure an acceleration of the pace of promotion of banking services and services in the field of comprehensive settlement and cash services for clients.
New banking products are a materially designed part of a banking service (card, savings book, traveler's check, electronic wallet, etc.). A banking product has a tangible form intended for sale on the financial market.
The new banking product comes in two types:
Limited - a product whose volume or quantity of release is strictly quotas. Limited banking products include shares, bonds, credit agreements, etc. This product is produced for a specific buyer;
Not limited - a product whose volume (quantity) of production is not limited by any quotas. This product is produced based on a possible potential buyer, therefore the volume of its production is not limited by any standards, except for the factor of consumer demand.
In the region of presence, in order to expand the range of banking services offered, you can consider:
1) Express lending service. This banking product provides significant time savings: it can be issued in 1 business day without collateral with a minimum package of documents. The “Express Lending” system allows you to organize the provision of credit at places of sale of goods and services (car dealerships, shopping malls, household appliances and mobile phone stores, travel agencies and many others). At such remote lending points, any person, using the help of a credit manager, can fill out an application for a loan and immediately receive the product or service he needs on credit. At the same time, the processes of initial verification of a loan application, transfer of it to the bank, receipt by the client of a decision on issuing a loan, as well as printing of all necessary documents are automated. When a bank uses automatic or semi-automatic scoring, it is possible to reduce the time required to complete this procedure to several minutes.
“Express lending” is implemented according to the principles of a “thin client”, and therefore does not require the installation of special software at the point of sale. This means that it is possible to organize an entire network of lending points in a short period of time, which will undoubtedly increase the demand for the bank’s loan products.
This requires a technical solution that will significantly increase the efficiency of processing an application and obtaining a loan at a remote lending point. It should cover the entire technological chain - from receiving a client’s loan application to receiving a response from the bank and generating the necessary package of documents for granting a loan. It is necessary to integrate the Express Lending system with any lending automation tools installed in the bank.
“Express lending” is a system that has proven itself in practice, which provides an opportunity for banks in a closed territorial entity not only to increase the volume of lending to the population, but also the opportunity to provide more expensive loans, which increases the bank’s profit by increasing the interest rate.
It should be noted that competing banks in the city have been providing this type of service to customers for a long time, but the real interest rates for this type of lending are too high, for example, Home Credit and Finance Bank, the second largest player in the consumer lending market in Russia, offers this type of consumer loans in city communication shops at 36.6% per annum.
Otkrytie OJSC has a huge customer base, its own credit history database, and a system of trust loans, so it can organize an effective and quick check of the client’s solvency and set competitive interest rates for this type of lending with maximum benefit for the bank and minimal risk of non-payment.
2) New opportunities in the mortgage lending sector. Here, the winners are not only those banks that offer the best rates with the lowest payment costs, but also those that captivate with the “originality” of the service. Among the original ones is a proposal where you can exchange apartments (sell the old one and buy a new one) with minimal risks. Of course, the big disadvantage will be the simultaneous processing of two loans (which increases costs), but the benefits are obvious. Not long ago, banks introduced programs with the ability to interrupt payments (for six months, for a year, etc. - the so-called credit holidays). The program is very interesting, especially for young families who are planning to have a child in the future or are concerned about their solvency. The rates are higher than standard, but a significant advantage of this program is the reduction in the risk of non-payment of the loan. It is possible to provide deferred loans, when for the first year or two only interest is paid on the loan and only subsequently the loan is paid in full. This is especially beneficial for people who want to repay the entire loan amount in 2-3 years. In addition, the organization of revolving and non-revolving credit lines, youth loans, deposit loans can attract additional customers and increase business efficiency.
There are several categories of banking innovations, including:
Cash management and use of new information technologies;
Financial intermediation aimed at reducing operating costs and effectively managing assets and liabilities;
The emergence of new products in traditional segments of the loan capital market (“floating” interest rate; bonds with deep discount; money market instruments with characteristics of both capital and borrowed funds);
Innovation in new areas of the stock market (futures and options, commercial securities).
Domestic experience in developing banking innovations is based on the current legislative and regulatory framework, which greatly complicates the rapid introduction of new banking services with the rapid development of the banking system.
Thus, we can conclude that with the active development of the banking services market, there are no ideal concepts for offering services and attracting clients. Each has its own weaknesses, but this is not a reason to consider them bad. The question is how much the advantages outweigh the disadvantages.
In conditions of intense banking competition, the use of new tools and techniques generally has a positive effect on the balanced pricing policy in the banking services market; the emergence of innovations and the development of additional services, improving the quality of banking services, including the growth of professionalism and qualifications of banking personnel, which ultimately affects the reputation and image of the bank.
Let's consider a project to introduce a new credit product for Otkrytie OJSC - Express lending for the purchase of goods in city stores to achieve a higher share of the regional consumer lending market.
The bank is recommended to introduce a new loan product. To do this, it is necessary to place a bank loan officer workplace in the large shopping centers of the city and region in the amount of 8 places for 1 year (according to banks partnering with retail chains, this type of lending on average brings an annual income of 250 thousand rubles in one store or shopping center ).
Estimated result: increase in bank revenues by 12%, profits by 18% and market share of commodity consumer lending. Analytical data are presented in the table.
Table 17 - The number of service consumers can be determined by
indicators of existing express lending points of other banks
Based on the data in the table, it can be assumed that the allocated loan funds will amount to 20,000 thousand. rub. for the year, interest rate of 25% per annum and calculate the bank’s profit indicators (Table).
For calculations, we will accept a pessimistic version of the volume of loans issued, in the amount of 20,000 thousand rubles. per year with an interest rate of 25% (regular rate for the type of loan - express loan: 25-30%). This volume of lending can be provided in stores where the sales volume per day is more than 1000 thousand rubles, since in the Russian Federation currently every fifth purchase is made on credit, therefore lending points must be placed only in large stores in the city and region.
It is planned to issue 80,000 thousand rubles, within a year from 8 express lending points the interest rate is 25% per annum, income per year is 20,000 thousand rubles. by year - 5,000 thousand rubles.
Table 18 - Planned indicators of bank profit from placing points
express lending in stores in the region
It is planned to increase in 2015: the number of credit points for issuing express loans for the purchase of goods by 8 places in the cities of the region.
To evaluate the effectiveness, we will calculate the payback period as payback period = costs/profit.
The project costs are 1 million rubles. including servers, computers - 8 units, printers - 8 units, rental of space in shopping centers, organizational expenses, software, hiring and training of personnel, etc.
The cost of servicing express lending points will be 35,000 rubles. per month, including wages, technical support, rent.
Total costs will be:
One-time 1 million rubles.
Monthly 35000*12 months *8 = 3360 thousand rubles. year
Total 1000 thousand rubles + 3360 thousand rubles. = 4360 thousand rubles. in year.
Planned income 16,000 thousand rubles. in year.
Thus, the economic efficiency of the recommendation will be 11,640 thousand rubles. in year.
The activities of banks are diverse and multifaceted, they cooperate with individuals, entrepreneurs, and large corporations - the volume of sectors depends on how large the bank is and what kind of reputation it has “earned” in the financial market. However, almost all credit and financial institutions work with individuals, and for many of them this is their main activity. At the same time, the range of services provided is more than wide.