The law on the budget for 2020 stipulates that the minimum wage is 4723 dollars. Compared with the previous year, the amount increased by 550 dollar. But this increase was not enough to live a quiet month. People still do not have enough funds for basic needs and people are trying by any means to get a loan with a small salary in banks, MFIs and loan offices.
Can I get a loan for a large amount at the bank?
You can take a loan from a bank to buy a home with a low official salary. But you have to convince the financial institution of the availability of regular additional income. A positive decision is facilitated by:
agreements confirming the rental of real estate;
bank deposit certificates;
documents proving receipt of material assistance from the state, friends or relatives.
Banks also issue loans secured by real estate or any other values and assets. But the borrower must own them individually or have in his hands the written consent of the co-owner to use the values as collateral.
Is it realistic to get a loan at a bank with a minimum white salary?
People who want to take out a loan with a small salary are not welcome in all banks. Many structures refuse such borrowers. Institutions willing to cooperate agree to give a loan for household appliances or other consumer needs. Money for a house, apartment or car under these conditions usually do not provide.
Bank secured loan – what is it?
The availability of material security indicates that the lender will receive the money back, even if the borrower does not return it. As a guarantee of a loan, residential / commercial real estate, the guarantee of a solvent relative / friend / acquaintance, goods, jewelry, bullion and securities are considered. Under such conditions, there is a chance to get a loan with a gray salary, a criminal record and a negative CI.
Extra income – a chance to get a loan with a small salary in the bank
Citizens with low salaries approve a bank loan for cars, equipment and gadgets in the presence of additional income. The key condition is documentary evidence of receipt of money from another source. If the funds are taxable, a tax certificate is required from the inspector.