Over the past few years, loans have become an integral part of our lives. Probably every apartment has equipment purchased on credit or in installments. More and more often we hear the phrase: “I’ll take it in installments.” At the same time, most of us do not even think that there is a difference between a bank loan and an installment plan and, it should be noted, the difference is significant. What a person who does not understand the intricacies of economics and finance calls installments actually refers to the concept of a bank loan.

A bank loan is a loan issued by banks that has a target orientation, is issued in money, requires collateral, and is provided from own or attracted capital. The borrower can be both individuals and legal entities, and the lenders can be banks. The relationship between the borrower and creditors is regulated by the loan agreement. A bank loan requires the presence of collateral. To receive a loan, the borrower must fill out a loan application, where it is necessary to prove solvency and indicate a previous credit history.

Installment payment is one of the types of commercial loans and provides for the sale of goods and services to individuals or legal entities on the terms of deferment of final payment. The goods are transferred to the buyer at the time of making the first payment; the owner becomes the owner after full payment. According to current legislation, banks do not have the right to provide services for issuing goods in installments. That is, an installment plan is the same as a loan, only it is given not by a bank, but by a store. In this case, the store includes the credit interest in the cost of the goods.

Let us recall that the testing ground for the start of the credit boom in the late 90s was the household appliances market. Then, for the first time, people had the opportunity to take home refrigerators and televisions by paying only a down payment. This was the beginning of mass lending. There were queues in stores, people sweeping goods off the shelves. It was then that sellers of household appliances divided into those who began to give loans to the population themselves (this was called installment plans) and those who began to work with professionals - banks.

When banks entered household appliances and electronics stores in the 90s, they were a rather clumsy structure that simply did not have time to serve everyone. People were checked, certificates were required, and there were many loan refusals. This was the stage when banks, in fact, learned about mass lending, gained experience, tested credit technologies on teapots and microwaves, collected credit histories, and calculated risks. At that time, store installment plans looked more interesting than bank offers. They were as expensive as bank loans, but they were easier and faster to obtain. But over the past 10 years, the bank lending system has undergone very serious changes. And today the simplest and most profitable loans are provided for household appliances and electronics. But store installment remains expensive.

In the credit department of a store, as a rule, you can see representatives of several banks. They offer a huge selection of loan programs - for 12, 15, 24 and 36 months, loans with and without a down payment, loans without overpayment and much more. The consultant will always tell you which program is more profitable to take in a particular case. Professionals call lending in stores pos-lending.

An interesting fact was that even during times of crisis and a clear decline in any sales, POS loans were still at the peak of popularity. Currently, pos lending continues to gain momentum. More and more banks, including state-owned ones, are joining this type of customer service.

One of the largest players in the pos-lending market is OTP-Bank. He told the Ural-Press-Inform agency about the nuances and methods of the bank’s work in stores. Director of the Consumer Lending Directorate of OTP Bank Asker Enikeev.

- How many years has your bank been operating in the POS lending market and what successes have you already achieved?

OTP Bank has been in this market since 2003 and it became one of the first banks to start doing this in Russia. Currently, we occupy second place in the POS lending market in our country.

- What is the advantage of POS lending over conventional loans?

This is a convenient and fast loan. The borrower receives it directly in the store for the purchase of a specific product. The application review time usually does not exceed five minutes; the entire process takes 15 minutes. There is no need to go to a bank branch and wait several days for a decision. Pos lending saves the client’s time. And time is money. A person does not need to go to a bank branch, waste his time, and then go back to the store and purchase a product that may no longer be available. Moreover, the average size of a pos loan in Russia is 17 thousand rubles. This means that it is available to almost everyone. Even if the client receives a low but stable salary, for example 20 thousand rubles per month, then he can easily afford to pay about 1.5 thousand per month on the loan.

- What are the main conditions for issuing a pos loan? Are there additional fees charged to the client?

OTP-Bank has a wide range of offers for the client. There are installments without overpayment, and there are more expensive products. There are no hidden fees at the bank; we indicate the effective interest rate. Almost any Russian citizen who has a passport and lives in the territory where our bank operates has the opportunity to apply for a loan. The “bank + store” tandem have developed a system of discounts on goods purchased on credit. This allows you to buy goods without overpaying. Let’s say a client receives a loan from OTP Bank “For 36 months, without overpayment.” In this case, the store makes a discount in the amount of bank interest. That is, in essence, a person pays only the cost of the goods, but for 36 months. The client can always repay the loan ahead of schedule, but the bank will recalculate it, and the total loan amount will be significantly lower. In addition, OTP Bank does not charge any additional commissions from the client.

- What are the basic requirements for the borrower and what documents are required to obtain a loan?

The borrower must be between 23 and 60 years old and have a job that can pay for the loan. In most cases, only a Russian passport is sufficient.

- How is the credit limit calculated?

When approving a loan and calculating the limit, the borrower’s age, income level, credit history and a number of other factors are taken into account.

- What other additional services are provided when issuing a loan?

Life insurance is provided at the borrower's option.

- In what case can a bank refuse to issue a pos loan?

There are two main reasons for refusal: if the borrower has a bad credit history or insufficient income.

- How can you pay off your loan debt?

There are many options: mail, electronic terminals, bank operational offices, bank terminals - in each specific case the conditions for transferring money are different. This is a significant advantage - you don’t have to go to the store to make a contribution.

Pos-lending is a rather risky and at the same time profitable way of lending to individuals. How does the bank deal with the risks of non-repayment?

The bank has extensive experience in this segment. Our specialists from the Risk Division evaluate the borrower using scoring models based on statistical data.

State-owned banks also plan to enter the POS lending market in the near future. How will banks deal with competition and how will this affect the services they offer?

This market is highly competitive, with both federal-level banks and local players present. If state banks enter the POS market, there may be a redistribution of shares among the main market participants. This applies, to a greater extent, to federal retail chains, where there is a large flow of customers and a large trade turnover. It is also worth noting that if competition becomes tougher, new original products will appear

Finally, it is worth noting that lending is a business. And the goal of any business is to make money. Household appliance stores are specialists in the field of selling goods; loans are not their specialty. The store simply does not have the resources to check at the banking level the people for whom the store is lending money or to create diverse and mobile credit programs. Therefore, the store simply includes all its risks in the price of the goods. That is why the store's installment plan was and remains simply a very expensive loan. And don’t fall for the phrase “interest-free installments”; it may be interest-free, but it’s expensive. In the end, the buyer is not interested in the interest, but in the final amount that he must pay.

Shopping lovers are familiar with the situation when they want to buy several things at the same time, but their budget is limited. Or it often happens that it is urgently necessary to replace one of the expensive household appliances. One way or another, the question arises: “Where to get the money”? The simplest solution to this issue would be to purchase goods on credit. Let's consider the possibility of quickly obtaining a credit loan, directly, at retail outlets that cooperate with OTP Bank.

Credit for purchasing goods in a store

Let's imagine a situation: a buyer urgently needs to buy a laptop for work. The purchase is expensive, and funds are not enough. Of course, you can contact the bank to apply for a loan. But all the organizational issues will take some time, and you need a laptop for work now. In the event that the installment service is not provided in the store, OTP Bank clients can use the POS lending service.

POS lending is a credit loan, the registration procedure of which takes place in the store. To be able to provide such a service to customers, the retail outlet must be in partnership with a financial institution.

To draw up a loan agreement at the store checkout, the borrower must provide the cashier with an identification document. No additional documents are required to complete the operation.

Conditions

OTP Bank specializes in lending, so the process of providing consumer loans at retail outlets has been automated. A store customer can purchase a product he likes on credit on favorable terms, among which are the following:

1. The loan amount can range from two to three hundred thousand rubles.
2. The amount of the down payment on a loan can be anything: from 0% to 99%.
3. The loan repayment period, according to the payment schedule, can be selected in the range from 3 to 36 months.
4. When drawing up a loan agreement, the wishes of the borrower regarding the date of repayment of the loan debt are taken into account.
5. Loyal interest rate.
6. The ability to repay the loan both through stationary points and remotely.

If you have additional questions about the terms of POS lending, clients of OTP Bank can seek advice from a 24-hour support service operator:

Bank partner stores

Today, OTP Bank cooperates with several dozen partner stores. Buyers who want to purchase goods on credit and draw up a loan agreement in a store can go to the checkout of any retail outlet from the following list: Kant, DNS, M.video, Svyaznoy, Citylink, Euroset, RBT .ru, Media Market, Know-how, Lazurit, “Moscow Jewelry Factory”, “Lots of furniture”, Jewelry chain “585”, “Megafon”, Moneycare, “Expert”, DMI, “Beeline”, Elena Furs, “Snezhnaya” Queen", "Aleph", "Adamas".

In addition, anyone can become a business partner of OTP Bank in the area of ​​POS lending. Mutually beneficial terms of cooperation will have a positive impact not only on the reputation of the retail chain, but will also become a new round of providing quality service to customers, as well as a tool for generating additional profit. You can fill out an application for cooperation. You will need to provide contact information in the information entry fields, as well as attach completed document forms to the online application. Before submitting your application, you will need to confirm your consent to the processing of personal data.

Debit card in store: "Cash in 15 minutes"

In stores that are partners of OTP Bank, customers can not only receive a consumer loan, but also issue debit cards. This type of card is called “Cash in 15 minutes” and is relevant for those who want to purchase goods at several retail outlets or simply have not decided on the choice of store.

To receive a “Cash in 15 minutes” debit card, you must provide a Russian citizen’s passport at the store’s checkout for identification and signing of a loan agreement.

A request for this type of loan is considered as quickly as possible. If the decision is positive for the client, the borrower is issued a debit card, which can be used to pay at various retail outlets.

Requirements

In most cases, the bank makes a decision in favor of the client and issues a debit card promptly and without providing a package of documents. Customers who have provided a fake passport, or persons who have an outstanding loan may be refused to receive a “Cash in 15 Minutes” card.

OTP Bank does not put forward strict requirements for the borrower. The main condition is citizenship of the Russian Federation, as well as registration and actual residence in the region where at least one OTP bank branch operates. As for age: the borrower must be 21 years old, because according to the bank’s internal rules, loans are not issued to persons who have only recently reached the age of majority (18 years old). At the time of conclusion of the agreement, the borrower must be no more than 69 years old. It is noteworthy that it was with a consumer loan for goods that the bank met the borrowers halfway: the age was increased from 65 to 69 years. Another bonus from OTP Bank is the ability to indicate not only salary, but also pension in sources of income, which simplifies the procedure for purchasing goods with credit funds for pensioners.

How to repay a consumer loan?

When concluding a loan agreement, the borrower is provided with payment details. The contribution amount must be transferred monthly to the specified account, which will be debited according to the payment schedule. Also, OTP clients can make early repayment of the loan in full. To carry out this operation, you need to perform a simple algorithm of actions:

1. Call the hotline or contact the nearest bank branch to clarify the amount of the loan balance, taking into account interest and commission. You can select a bank branch and view its operating hours using a detailed online map.
2. Transfer funds to the credit account in full (including kopecks). It is important to remember that if even a few rubles are missing, the loan will not be closed, and interest will continue to accrue over the next month.
3. On the next date of debiting, according to the payment schedule, the loan will be repaid ahead of schedule. After which the client will receive a notification of closure. Debiting funds from the account and deactivating the loan occur automatically. To carry out the operation, you do not need to come to the OTP store or office to write an application.

Funds for early loan repayment must be credited to the account in advance. If the transaction is delayed and the required amount is not available in the loan account, the loan will not be closed, and the procedure for early repayment of the consumer loan can only be carried out on the next payment date.

After completing all the points of the algorithm, you need to call the bank and clarify whether the loan is closed by agreement number N. If the answer is positive, you need to contact the OTP branch to obtain a certificate confirming the absence of obligations to the bank and the fact of repayment of the loan.

How to return or change a credit item?

Goods of good quality, which are subject to return and exchange, in accordance with the legislation of the Russian Federation, can be returned or exchanged in the store where the purchase was made using credit funds. A representative of the retail outlet will contact a representative of OTP Bank to determine the possibility of fulfilling the client’s request and coordinate further actions.

It has become possible to purchase the necessary goods in a store with insufficient funds thanks to a modern and affordable POS insurance service with a favorable interest rate. Within a few minutes and if you have a passport, a loan agreement with OTP Bank is drawn up at the checkout of the store, which acts as a business partner of the OTP financial institution.

I declare incorrectness and misleading of me as a consumer on 03/04/2017, when OTP BANK approved me an installment plan for the purchase of an Apple iPhone 7 32 GB Black at the Beeline office (Varshavskoe highway, 143A (Idea shopping center).

The price of this phone in the showroom is 52,990 rubles, the conditions attracted me because the installment plan was interest-free for 10 months. with the provision of insurance for 2 years. Moreover, as it turned out, after reviewing my documents for consideration of the application for an installment plan, OTP Bank approved it for me for 20 months, which, in principle, suited me, since as the term increased, the payment amounts were reduced. Upon concluding an agreement with OTP Bank, I was surprised that it turned out to be a “credit” one, but the Beeline seller explained this by the terms of the partnership between the bank and the Beeline enterprise, but that for me, as a buyer, the installment plan would be interest-free. But then doubts were raised by 2 documents - the specification for the contract and the payment schedule, both of which contained contradictions to the terms of the installment plan.

In one, for example, it was simultaneously indicated that “Loan payment is 0%” and “Interest rate is 25%” (a Beeline employee said that this % is paid by his company). I was confused by the schedule that my initial payment should be 03.25-04.04.2017 and amount to 3239 rubles, but the Beeline employee issued an invoice for 5742.75 on the same day. I paid for it. And when I saw in the specification in the column “Total payment amount” 64,773 rubles. 69 kopecks, then the difference with the price for the phone finally convinced me of the fact of a well-thought-out scheme. I asked questions about the overpayment, the seller continued to insist that the difference is the percentage paid to the partner bank Beeline. I realized that, taking into account the payment already made and counting from the due date of the 1st payment, this is not at all the installment plan that I agreed to. She offered to terminate the contract and return the goods on the same day, but the seller refused, citing that he did not know what to do, because there were no such cases in his practice, and the management did not answer him.

A call to the OTP Bank hotline also poorly clarified the situation: the bank operator assured that the payment of that day in the amount of 5742.75 was not a payment under an agreement with OTP Bank and the whole conversation was talking about a “loan agreement” and not about installments. This convinced me even more of the forgery, substitution, and distortion of information. And even the fact that the source was a Beeline employee, presenting all this as an installment plan, does not relieve responsibility from OTP Bank, which works with Beeline under this scheme - and it works successfully, because in the conversation it was repeatedly emphasized to me, that it is with this bank that this action always goes the most “successfully” and “OTP approves everything to everyone.” This indicates that OTP Bank is an accomplice in deliberately concealing facts from the client.

The end of the conversation with the hotline operator: you need to return the goods to Beeline (if the seller accepts, the operator emphasized, apparently understanding that this is a difficult case of return, because the goods are in fact on credit from her bank!), and then write an application for repayment of the loan. I asked the question many times - about what repayment? Why should I repay the loan? I went for the installment plan! In theory, she said that this was a statement about repayment of the loan by Beeline. But I already vaguely understand how this should be built... The Beeline employee also did not help. I was in the office until closing time, but the situation was not resolved. The police were called and I wrote a statement at the scene of the incident, indicating the partner bank of the Beeline office.

I ask you to look into the fact of misrepresentation and an attempt in a similar way, under the guise of an installment plan, to appropriate my money by the bank or Beeline. I was not accepted back for an item purchased at the same hour, which was purchased as a result of deliberate concealment of facts or incompetence of the seller. I want to terminate the contract of dubious content with OTP Bank and no longer have any relationship with the participants in this incident.

Good afternoon to all Irecommend readers!

Today is a review of my lending experience at OTP Bank. It happens that the client begins the story with the words: " You managed to contact me..."

I can’t say that about myself; both times the decision was balanced and without haste. I I read the form and the contract before signing . How else? I realized that this was a loan, and the bank was a legal entity to which, by law, I must repay the loan and interest on time. And they don’t care what my “circumstances” are. Of course, there are exceptions, and financial institutions will accommodate an unlucky client halfway. But this is a rare exception and strictly at the request of the first. It is unreasonable to demand and be offended, sending thousands of curses.

***My credits***

The first time I took out a loan for equipment was 3 years ago. While I was preparing the review, I didn’t find the documents for the photos, but I have them (I’m keeping them), if I dig them up, I’ll also attach them. The interest rate is average, I paid it off and forgot about it. Two years later, I decided to apply for an installment plan in Askona again. Oh yes, I also had a fascinating story with this network!

AND along with the furniture, I became the “lucky” owner of a loan agreement with OTP Bank.

In words there was INSTALLMENTS.

Installment payment is a method of purchasing goods in which the buyer is given the right to pay for the purchase in equal installments over a certain period of time.

In fact, it’s a LOAN, because I entered into a loan agreement. And this is a completely different topic.

Bank loan is an amount that a bank lends to a client to purchase goods for temporary use at a certain percentage.

How to connect these two concepts?

*** Installment loan!? How is that!? ***

Yes, both times I took out a loan, but there is TWO NUANCES :

Firstly ,the tariff for the loan product was difficult, and promotional.

Marketing campaign: 0-0-10 A2

This is stated in the contract below.

STOP! But what about the interest rate - 14.5% and interest?

Despite the fact that the rate was 14.5%, I actually "as if" I didn't overpay. Why?

Secondly , the store discounted the amount of overpayment from the price of the purchased item on credit. This is how it looks visually (underlined in red).

The following came out:

OTP Bank's loan calculator will help you calculate a consumer loan in cash in 2018 - 2019: the amount of monthly loan payments and payment terms for early repayment. You can use the official online calculator on the website for free!

Living on credit is convenient and practical. Consumer loans have become a part of the lives of Russians. Cash loans are especially popular among borrowers. Lending in 2017 - 2018 will delight you with a variety of offers for individuals.

To choose the most interesting and profitable of them, to plan early repayment of the loan, you need a financial instrument. This is exactly what the OTP Bank loan calculator is: convenient, visual, free.

.

OTP Bank offers 6 programs for consumer cash lending, as well as 3 programs for purchasing goods through consumer loans in the stores of the bank’s partners.

Lending terms

• Borrower's age: from 18 to 75 years (at the time of repayment);
• Minimum amount: 30,000 rubles;
• Maximum amount: 5 million rubles;
• Duration: from 3 months to 5 years;
• Loan issue fee: none;
• Security: guarantees from individuals – citizens of the Russian Federation (no more than 2).

Loan interest rate

We are gradually filling this section. It's worth waiting a little :)

The loan repayment calculator allows you to calculate online the payment amount, interest and overpayment for loans with early repayment, with partial early repayment.

The loan loan calculator will calculate:

• For salary card holders
• For legal entities.
• For individuals.
• For pensioners.
• For individual entrepreneurs.

The terms of the loan depend on the purpose of the loan and determine: the required package of documents, interest rates, and the amount of allocated funds. You can take out a bank loan:

• Cash.
• For the development of small business.
• To buy a car.
• To buy a home, to build a house.
• For refinancing.