How to get a loan abroad from a foreign bank. Get a loan from a European bank for a Russian Loan from a European bank for Russians

Loans in the European Union are 4 times cheaper than in Russia. This applies to both consumer and corporate loans. This data is provided in its review by the financial statistics agency StatBanker. However, Russian authorities predict a quick end to high lending rates.

In the third quarter of 2009, the weighted average interest rate on corporate loans issued in the European Union for a period of one year was 3.6%. This is four times lower than in Russia, where the average rate is 15.2%, according to StatBanker experts (text of the study in additional material). If the loan is taken out for a period of more than one year, then the rate increases to 16.2% in rubles and 9.8% in euros.

The lowest rates for loans up to 1 million euros are in Austria: in September it was possible to get a loan there at an average rate of 2.34% per annum. Rates in Luxembourg, Finland, Belgium, and France look no less attractive, where the rate is about 2.5%. The most expensive loans for business are in Cyprus - 6.76%.

In the Netherlands, loans are issued in amounts over 1 million euros at 1.68% per annum. Comparable rates (less than 2%) on such loans in September were also observed in Belgium, Finland, Italy and Luxembourg. The most expensive loans in the eurozone (over 5%) are issued in Slovenia and Malta.

Consumer loans

A similar situation has developed in the consumer lending market. The weighted average interest rate on consumer loans for up to 1 year is 7.8% per annum in the European Union, and in Russia this figure is 30.9% for loans in rubles and 17.2% for loans in euros.

The rate on consumer loans for a period of 1 to 5 years in the EU is 6.78% per annum. In Russia, such a loan will cost 2-3 times more - 20.3% per annum in rubles and 14.3% in euros.

In the eurozone countries, the lowest interest rates on consumer loans are in Finland - 3.2% per annum. The highest rates (about 11%) are in Spain and Italy.

The lowest rates on loans for a period of 1 to 5 years in September were recorded in Finland - 4.8%; in Belgium, Germany, France, Luxembourg, Austria they fluctuate in the range of 5-7% per annum. The rates are quite high in Slovakia (15%) and Portugal (12.8%).

Incorrect comparison

It is not entirely correct to compare loan rates in different countries head-on like this, says Alexander Razuvaev, head of the analytical department at Galion Capital Investment Company. According to him, rates largely depend on inflation, which in the European Union is significantly lower than in Russia (and in many countries there is even deflation). The lower the inflation, the lower the Central Bank’s refinancing rate, the source notes. “Our risks are higher,” the expert sums up.

According to Rosstat, for nine months of the year, inflation in Russia amounted to 8.1%, while in the countries of the European Union, inflation averaged 0.8%. In October, inflation in Russia is zero. In 2010, the Ministry of Finance expects inflation to reduce to 5-6%. According to the first deputy chairman of the Central Bank of Russia, Alexei Ulyukaev, in a year or two the difference in lending rates in Russia and in the world will decrease to 2-3%.

If you subtract inflation from the rate, the difference will not be so significant, says Andrei Cherepanov, head of the National Development project. In addition to inflation, loan rates depend not least on the degree of reliability of the project that attracts the loan, as well as on the business climate, the expert notes. “As long as the risk remains that your assets will be taken away and you will be imprisoned, there can be no talk of any reduction in rates,” says Cherepanov.

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Loans abroad are considered more profitable, since interest on loans in other countries is significantly lower than in Russia. For comparison, if the average rates of a domestic financial institution fluctuate between 15-20% per year, then a similar loan product from a foreign bank will cost 5-6% per annum.

Can a citizen of the Russian Federation take out a loan abroad?

The answer to this question will be definitely positive, but before you rejoice, you need to take into account the features of this type of service.

To begin with, it is worth understanding that branches of financial institutions located in Russia follow domestic legislation. Therefore, there is no need to expect favorable conditions there. Another nuance is the timing. All loans are provided for a long period: from 10 to 30 years. Other options will simply not be profitable for the bank, so you should not count on receiving them.

There are also a number of restrictions for individuals under which a person can take out a loan:

• Mandatory age of the borrower (here it is worth considering that abroad this figure is 21-22 years);
• Proper payment of taxes and absence of debts;
• Having a positive credit history in your own country;
• Residence permit or permanent residence in the country where the client intends to take out a loan;
• Registration of a mortgage;
• Ownership of real estate in the lender's country;
• Close relatives living in the territory of the state where the bank is located.

If at least one point suits you, then you can safely count on a positive response from a foreign bank. Of course, the easiest way to get a loan is for those who have relatives in another country or live there themselves/have a residence permit. However, it will be possible to obtain the coveted loan if a person has dual citizenship or conducts business abroad.

Mortgage loans can be obtained in almost any country, but it is worth remembering that the property being purchased must be located within the state where the loan was issued.

Despite the favorable conditions and relatively low interest rates offered by European banks, there are no less bureaucratic issues. To qualify for foreign currency, you need to provide a number of documents:

• Original and copies of international passport;
• A certificate from the tax office confirming the absence of debts;
• A copy of the employment contract or other paper confirming employment;
• Documents confirming income and expenses;
• Any papers that indicate the fact of ownership of real estate in the Russian Federation;
• Documents defining the place of residence, as well as other information about the borrower.

This list may be shortened or supplemented depending on the country and the policy of the financial institution.

Is it possible to get a loan online

It is possible to send out loan applications with scanned copies of the necessary documents while in your home country. But it’s most likely that you won’t be able to get money for your needs. This is difficult, if only for the reason that the agreement must be signed in person.

However, this statement applies exclusively to large institutions. While small credit organizations or online resources are ready to provide small amounts for a short period of time. Most often these are international financial portals like WebMoney. There, the loan is issued online using an electronic wallet.

As for issuing bank cards, the situation is the same. You can order a card from a foreign payment system, for example, Payeer or Payoneer. But in order to get plastic from a reputable bank, you will need to open an account in another country. It is worth noting that servicing foreign cards is most often not free (and costs a lot of money in terms of rubles), and replenishment is possible through international terminals with additional commissions and fees for international transfers.

What are the interest rates on loans in Europe and the USA?

EU banks offer favorable conditions for their clients. However, getting a consumer loan or a loan for business needs (provided that you are not a resident of another country) is quite difficult. Therefore, Russian citizens mainly take out mortgage loans secured by foreign real estate. In this case, the final interest rate is determined individually, but in general does not exceed 10% per annum.

The leader in low mortgage interest rates is Switzerland. There this figure starts from 1.75%. Finland and Germany follow with annual percentages of 1.83% and 1.9%, respectively. The smallest country in the world, Luxembourg, is slightly behind with a rate of 2%. By the way, the same initial indicator is offered by two other frequently visited states: Great Britain and France. But real estate in the resorts of Spain and Italy will cost a Russian citizen 3% and 3.5% annually.

And finally, a question that torments many people: is it possible for a citizen of the Russian Federation to get a loan in the USA? The answer is - it is possible, but it is very difficult if you do not live in the country and do not have a residence permit there. In general, mortgage lending rates for foreigners will be higher than in Europe: about 6-12% per year. While for US residents there are preferential programs of up to 3.7%.

Student loans for education are in great demand. There you can get a loan in the amount of about 20,000 - 30,000 dollars at 5-7% per annum. But an important condition is not only confirmation of financial solvency, but also the guarantee of the educational institution to admit the student.

As for consumer loans, they are issued for short periods of 5-10 years at 6-8% per annum for any needs. And banks do this mainly for those living in their own country. Therefore, if you are not a US citizen and do not have a green card, then it is better to use the services of intermediary firms, since the lender will most likely refuse you personally.

What are the interest rates on loans for borrowers in Europe? Borrowers who have studied the offers of Russian and foreign banks and are surprised at the unrealistically inflated prices for loans are interested. Taking out a mortgage, for example, in another European country seems to be a more profitable prospect.

What conditions apply abroad?

Many people wonder why our rates are significantly higher than in Europe, several times higher? Financiers explain this by the rapid growth of loans in conditions of low saturation of the lending market. In addition, according to them, consumer inflation is higher in Russia.

For comparison: if our inflation, on average, is about 5-7%, then abroad it rarely exceeds 2-3%. Also in Europe it is quite low, and this is what commercial banks working with the public focus on. If they can get money at a low interest rate, then they also offer small affordable rates to individuals.

Russians have the opportunity to apply to European banks for loans. There are no bans on issuing loans to foreign citizens almost anywhere. Read more on this page. For example, lending is very popular for those living in Germany.

However, only those who legally live in the territory of a European state, have a residence permit or carry out business activities in this country can count on favorable conditions. Otherwise, it is quite difficult to get money abroad, except for a mortgage, since the bank can sell the collateral real estate if something happens.

Can Russians get a mortgage in Europe?

Every year the number of Russians purchasing real estate with a mortgage abroad is increasing. On average, rates on such loans in Europe are 3-5%.

A loan for the purchase of housing in a European country can be issued at the following interest rates:

• Great Britain – from 2%.
• France – from 2%.
• Spain – from 3%.
• Italy – from 3.5%.

In most cases, you need to make a down payment of 30-40% of the cost of housing. To obtain such a loan, you must open an account in a local bank with a certain amount and provide as many documents as possible confirming your solvency and financial well-being.

It is worth remembering that lending and buying real estate in Europe is a very expensive pleasure. If in Russia you can carry out some of the procedures on your own, and also complete all necessary transactions through the MFC, then abroad there is no such practice.

You will need to pay for the services of an appraisal company, realtor, and lawyer. Plus there are also all kinds of state duties and payment for insurer services. Bank services for account servicing and loan issuance are also paid.

Mortgage in Russia

But despite the fact that loan rates in European companies are low, it is very difficult for Russians to get a loan from them. It’s better to take a closer look at which Russian banks are willing to provide loans on favorable terms and use their services.

Now in our country many government programs are being created that can significantly reduce the costs of individuals on housing loans. Among them:

1. Social mortgage is a special offer for public sector employees. This includes doctors, teachers, scientists, municipal employees, etc. They can get a mortgage at a low interest rate of 8% per annum, while part of the interest will be subsidized by the state. They are also provided with an allowance for the payment of the first installment,
2. Maternity capital is a form of support for families, when at the birth of a second or subsequent children, the family receives the right to a certificate with the amount of 453 thousand rubles in the account. They can be spent on improving living conditions, educating children or increasing the mother’s pension,
3. Young Family is a program for families under 35 years of age who can receive a cash subsidy to pay up to 30 or 35% of the cost of the purchased home. The amount of payment depends on the region and the presence of children,
4. Lending for families where a second or third child was born from January 1, 2018 to December 31, 2022. They can count on a temporary subsidy that lasts 3 or 5 years, respectively; it provides a mortgage at 6% per annum. The offer applies exclusively to real estate on the primary market, the down payment must be at least 20%, no more than 8 million rubles will be issued, and the borrower must take out comprehensive insurance. We invite you to find out more

Many have heard that loan rates at Sberbank in Europe are at an incomparably lower level than rates in Russia. This is surprising, because Sberbank is a single organization with a center in Russia, why does it force not “snickering” Europeans, but its own compatriots, into enslaving frameworks? Let's figure this out, and at the same time compare interest rates on consumer and mortgage loans from Sberbank in Russia and in a number of European countries.

Sberbank subsidiaries operate successfully in a number of European countries. In the eurozone, the legislation on banks differs significantly from the Russian one, and the financial and economic conditions there are different. Also, do not forget about competition with other European banks. Taking all this into account, Sberbank offers conditions for mortgage and consumer loans.

1. In Slovenia, a mortgage loan can be taken out at 4.5% per annum, for a minimum of 6 months and a maximum of 20 years. The maximum loan amount is 500,000 Euros, the minimum is 15,000 Euros. Payments are made in equal parts, insurance is required. A consumer loan from Slovenian Sberbank is available at 6.99% per annum. You can borrow from 1,000 to 15,000 Euros for a period of 1 to 8 years.

You can feel the difference, especially when you consider that the minimum preferential interest rate on a mortgage in the Russian Sberbank is 7.4%, and a consumer loan can, at best, be obtained at 12.5% ​​per annum, and even then through a pre-holiday promotion.

1. In Croatia, a consumer loan in Euros will cost 6.6% per annum. The smallest amount available for this loan product is 7,500 Euros, the largest is 225,000 Euros. Loan term from 1 to 12 years. A mortgage for Croats costs 3.45% per annum. At the same time, the maximum amount they can count on is 250,000 Euros, the minimum is 10,000 Euros. The terms are long from 1 year to 30 years.
2. In the Czech Republic, local residents can obtain one of the cheapest consumer loans from Sberbank at 5.9% per annum for an amount from CZK 30,000 to CZK 1,000,000. Minimum term 1 year, maximum 8 years. Mortgages are also very cheap - 1.99% per annum, and at a fixed rate for up to 30 years. Amount 500,000 Czech crowns.
3. In Germany, loans are generally given out for nothing; you can’t even believe it when you look at the real numbers in the mortgage agreements of ordinary burghers. The minimum interest rate on a mortgage in the German Sberbank is 0.2%, just think about it. The loan amount can reach up to 500,000 Euros, and the contract term can last for 30 years. Even a consumer loan for any purpose can be obtained at 0.9% per annum for a maximum of 4 years and in an amount of up to 100,000 Euros.

Ah, happy developed countries of the eurozone. We residents of Russia and the CIS countries can only dream of such loans. Every day, thousands of Russians are sincerely happy that they managed to get a mortgage within 10% (not even 7.4%). And their joy is understandable, because they have the opportunity to move into their own home and it doesn’t matter that for 10-15 years they will have to wear cast-offs and eat corned beef from the cellar.

How can a Russian get a loan in Europe?

If you are a client of the Russian Sberbank, you can contact the branch of its European “subsidiary” with an application for a loan, but most likely you will be refused. There are two main obstacles: firstly, in order to qualify for a loan from a European bank you need to have a credit history with BRKI or NRKI, naturally positive, you probably don’t have one, secondly, you need to have a Schengen visa and at least a residence permit in the country in which Sberbank’s subsidiary is located. For many, this is a serious obstacle, but do not despair.

In some countries, for example in the Czech Republic, foreigners are given the opportunity to take out a mortgage loan to purchase real estate in the Czech Republic without a residence permit. If you have a representative, you can even not have a Schengen visa and not come to the Czech Republic, but apply for a loan remotely through a consulting company. This is more difficult and more expensive, but there is a chance to purchase real estate in Europe, and this is an excellent opportunity to improve your financial affairs in the distant future.

Why are loans more expensive in Russia?

We understand at what interest rates the European Sberbank gives money to citizens of eurozone countries, and immediately a nagging feeling of injustice arises. Why do our bankers treat us this way? In fact, the financial sector is ruled by precise calculation and pragmatism. The bank will not operate at a loss, which means the minimum interest rate that a credit institution can afford must be tied to something. What is she tied to?

In Russia, the minimum lending rate is tied to the refinancing rate set by the Bank of Russia. Now it is 7.75%, which means the minimum loan price should be a little higher. So we receive consumer loans at a minimum of 12.5% ​​and should still be glad that the Bank of Russia lowered the rate a little. At the height of the crisis a couple of years ago, it was much higher, and therefore loans were more expensive.

In January 2016, the refinancing rate was 11%, a monstrous figure dictated by systemic crisis phenomena in the economy.

In Europe, credit policy is determined by the ECB, which in every possible way keeps the key rate at the level of 0-0.25%, from which loans for citizens and organizations become super cheap. What is the result, and the result is logical - money to money! The European economy, with the availability of cheap loans, has powerful development drivers in the form of an active consumer sector, as well as small and medium-sized businesses, which, again due to cheap loans, are growing by leaps and bounds.

In Russia, Sberbank only “beats itself in the chest”, which supports consumers and businesses. In fact, few entrepreneurs manage to get a loan for themselves at less than 17.5% per annum. What kind of development can we talk about? At the same time, large companies like Gazprom or Rosneft are developing well by selling hydrocarbons and transferring profits to foreign banks. It's all sad!

So, we looked at how many loan products Sberbank offers in different European countries, and under what conditions it offers them. The general conclusion is this: in Europe it is profitable to take out loans, but in Russia it is extremely unprofitable. Our Sberbank, compared to its European subsidiaries, looks like a moneylender. Although it looks like he is a moneylender. And while this continues, there will be no talk of any development of the Russian economy, you can’t even dream about it!

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Today, Russians can’t just take out a loan from a foreign bank. But the practice of purchasing real estate, cars, or making other large purchases abroad is becoming more and more common, and therefore turning to foreign banks for a loan is no longer unusual.

Today, in order to take out a loan from a foreign bank, a Russian citizen must know about the rules of a particular country in which he wants to take out a loan.

If in any European country you can take out a loan or open an account in any currency only upon presentation of a foreign passport, then in the USA this is out of the question. An ordinary tourist will not open an account here. To do this, you need to be a citizen of the United States and have a permanent job in this country in order to take out a loan from a foreign bank. An unemployed student or just a traveler will never be able to borrow money from an American bank.

In this case, you can get a loan for a relative or friend living in this country legally. You can also open a company in the USA and receive a loan for a given amount for a legal entity. American banks, like our company, trust legal entities more.

On practice take out a loan from a foreign bank It’s not so easy for a Russian citizen, especially when large sums are involved.

Credit departments of banks abroad work only with qualified intermediaries whom they know well. In the event that the client intends to ask for a loan to purchase real estate abroad, it is registered with a realtor. If a client wants to take out a loan from a foreign bank to purchase a business, the bank negotiates with an intermediary consulting firm.

At the same time, the purposes for which Russians would like to take a foreign loan are approximately the same as in our country. These are consumer goods, training, treatment, buying a car, real estate or business. Most often, money is taken to purchase real estate abroad, since Russian citizens consider this the most profitable investment of money.

So how to get a loan abroad(primarily in European countries) if you provide documentary evidence of the client’s solvency and have a foreign passport, the processing and issuance of the loan proceeds quite quickly. You will have to provide a standard package of documents, which includes an identification document of the borrower, an extract from his bank account, information about his income and property. Sometimes a financial company may request information about the family composition of its client. More detailed information on how to take out a loan abroad can be found in a special section of our website.

Unlike our company, European banks have very high requirements for Russians who wish to obtain a loan from a foreign bank. Therefore, if you are interested in how to get a loan abroad, carefully study all the conditions for obtaining a loan. In addition to the above documents, the bank may require the client to have a long-term work or study visa, as well as a workplace in the country where such a credit institution operates.

Thus, to obtain a mortgage, the client must have a long-term visa, since the period for which the loan is issued is tied to the period of stay in the country. The bank may also require a resident of this country as a guarantor.

When applying for a foreign loan, things will go faster if the credit institution requires confirmation that the person being loaned is a client of one of the Russian banks, such as, for example, our credit institution. An initial payment of 10% of the total loan amount will also be required.

You can also contact the foreign representative office of Russian banks, which will offer Russian citizens more favorable conditions for obtaining a loan. You can also get a mortgage loan for the purchase of foreign real estate in Russia. Our company will quickly review such an application and provide the necessary money.