Loan Types, Compare Credit Programs

The credit relationship between the borrower and the creditor is established by a written agreement. The bank customer then receives the amount of money stated in the document.

After a certain period of time


The borrower begins to return the funds taken from the creditor in the form of monthly payments, which may be calculated using the annuity or differentiated method.

With the development of the financial market, it is becoming increasingly difficult for ordinary borrowers to orient themselves in investor credit products. To understand exactly what product you need, we decided to create a simple classification of the main types of loans .

Credit classification


  • Credit is a form of financial assistance received in cash or by transferring funds to a client’s account.
  1. The loan is easy to apply .
  2. Credit amount – up to 3000 euros.
  3. Obtaining a loan does not require much time for the borrower.
  • The credit line is used in the following situations:
  1. Comfort is very important to the customer and he respects his time (a credit line is issued when the application is written).
  2. The customer will decide for himself when he needs the money .
  3. The Customer shall determine the refund terms and conditions.
  4. Sudden need for money.
  5. The customer has a positive credit history.
  • Consumer credit is suitable for situations where:
  1. You don’t want to save money to make a big purchase.
  2. You do not have time to consult a bank, it is more convenient for you to apply for a loan through the Internet.
  3. Home appliances , electronics, etc. are urgently needed
  4. Need cash assistance with a short-term repayment period.
  5. The loan amount can be up to 3,000 euros and the repayment term is up to 3 years.
  • SMS Credit :
  1. The loan is executed by sending an SMS message from the next borrower’s phone number.
  2. Credit amount – up to 3000 euros.
  3. Processing procedure – immediate.
  4. The age category of borrowers is 18-70 years .
  5. Mandatory condition – Positive credit history.
  • Loans without pledge :
  1. Does not require a guarantee or pledge .
  2. The client must have an official income.
  3. Must have a positive credit history.

Significant difference from a regular loan to a leasing


when you apply for a loan , the object of the transaction immediately becomes the property of the borrower. In addition, the borrower repays the value of the item in installments, together with the estimated interest on the use of the money.

The owner of the leasing is the lessor (the leasing company), but the lessee (client or borrower) has only the right to use the particular object. The borrower may receive the property in his possession, but only after he has repaid the entire amount of the lease.

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