Having a child comes with increased expenses. The family's own resources are not always enough. on maternity leave is also quite problematic. Banks are reluctant to provide loans to young mothers. Let's try to figure out how to get out of a difficult situation.
Will they give me a loan?
Is it possible to take out a loan while on maternity leave? Expectant mothers often ask similar questions. According to the law, a woman on maternity leave is no different from other borrowers. In practice, it becomes more difficult to confirm solvency. The amount of maternity payments is less than wages. The unpredictability of the situation makes matters worse. The guarantee that a woman will return to the same position with the same income is not one hundred percent.
When making a decision, the bank takes into account the current financial situation of the client. Having a child increases monthly expenses. Therefore, maternity leave can be problematic. However, there is a chance that the application will be approved. Competition in the financial market forces companies to meet their customers halfway.
Recipient requirements
If a woman decides to take out a loan while on maternity leave, she must meet the standard requirements of the financial institution. Cooperation is carried out only with citizens of the Russian Federation aged 21 to 65 years. Additionally required:
- presence of registration in the region where the bank operates;
- total work experience of at least 1 year;
- Minimum 3 months of work experience at last place of work.
Some banks have additional requirements. For example, women raising a child older than 6 months can get a car loan.
Required documents
To take out a loan, a potential borrower needs to prepare the appropriate package of documents. The list of papers depends on the type of loan. Typically banks require:
- passport;
- income certificate;
- document confirming official employment;
- SNILS.
Some banks can provide a loan during maternity leave based on two documents. However, the terms of the loan will be stricter.
Available offers
The conditions for providing money and requirements for the client may vary depending on the selected offer. To assess the chances of your application being approved, you need to familiarize yourself with the features of the tariff plans.
Credit card
One way to take out a loan while on maternity leave is to apply for a loan. Banks willingly provide such a service. The chance of receiving money will be higher than when applying for a personal loan. The credit card is provided under the following conditions:
- the interest rate is 25–50%;
- grace period – 50–60 days;
- the amount of the monthly contribution depends on the client’s wishes;
- the minimum payment amount is 5–8% of the amount of debt plus interest;
- return period – during the entire validity period of the card;
- service fee from 500 rub. in year.
Contacting an MFO
You can take out a loan while on maternity leave from a microfinance organization. Microfinance organizations are distinguished by their loyal attitude towards potential clients. 70–95% of received applications are approved. The company operates primarily via the Internet. Money is credited to the card. A decision on the application is made automatically in 5–30 minutes. You can contact the MFO 24 hours a day. This will not affect the speed of decision making.
You can use the offer if you have a damaged credit history or an urgent need for money. Such loans are issued at 1–2% per day. The annual overpayment can reach up to 730%. The maximum credit limit usually does not exceed 30,000 rubles. The money will be returned within 7 to 30 days.
A number of companies are ready to increase the limit to 100,000 rubles, and the return period to 1 year. But such organizations are not often found on the market. Using the services of microfinance organizations in the long term is unprofitable.
Consumer loan
Where can I get a loan while on maternity leave?
Today there are a number of offers on the financial market that allow you to obtain a bank loan. You can take out a loan during maternity leave from the following banks:
- SKB bank. The company is ready to issue a consumer loan at a rate of 27.1% per annum.
- Tinkoff Bank. The company can issue a credit card with a limit of up to 350,000 rubles. The overpayment amount will be 24.9%. There is a grace period for the first 50 days.
- UBRR. You can take out a cash loan from the institution. The offer has a floating interest rate. For the first 6 months, the overpayment amount is 63% per annum. Over the next six months, the figure drops to 22%. For the final 6 months, the debt will have to be repaid with an overpayment of 13%.
- Uralsib. You can take out a mortgage from an organization. To use the service, you need to make an advance payment of 40% of the cost of housing. Refunds are carried out at a rate of 11.5%.
- Citibank. The company is ready to issue a credit card with a limit of 300,000 rubles. at 18% per annum. The duration of the grace period is 50 days.
How to increase your chances of approval
You can increase your chances of getting a loan by:
- Do not report maternity leave. Banks check the information and call the client’s work place. A woman can ask her colleagues not to talk about maternity leave. However, not all organizations agree to accommodate the employee. Accidental discovery of hidden information by bank employees will result in the application being rejected.
- Providing a guarantee. If a woman wants to take out a loan while on maternity leave, she can be honest about her situation. Additionally, it is worth listing alternative sources of income and property available in the property. There is no need to count on a large amount. The maximum limit will be 100,000–150,000 rubles.
- You must submit your application at a convenient time. At the beginning of maternity leave, a woman can still confirm the amount of her income. At the end of the period, the chance of approval of the application is also high. At the end of the term, the woman can confirm that she does not intend to change jobs, and dismissal is not expected in the near future.
- Submit an application to an organization that pays wages using a plastic card. Institutions are loyal to this category of borrowers. However, large loans may require a guarantor.
- Give consent if money is lent at a high interest rate. The chance of favorable conditions during maternity leave is low. If a purchase or other event can wait, it is better to postpone the loan for another period.
If you couldn’t take out a loan during maternity leave, you can get a loan for your husband or relatives. If they have sufficient income, the chance of their application being approved will increase.
When a baby is born into a family, the overall level of income drops sharply because the baby needs full care. Many young mothers would like to take out a loan while on maternity leave. However, not all banks agree to subsidize this category of citizens. In order to qualify for registration and issuance of a consumer or other loan while on maternity leave, you must provide the bank with a guarantee of payment of debts under the loan agreement. To know how much you will have to overpay on a loan, you need to navigate all the loan options offered by banking organizations.
Do they give loans during maternity leave?
The main condition of many banks for issuing borrowed finance is the provision of a certificate from the employer about the applicant’s income level. Pregnant women or young mothers on maternity leave cannot complete the required package of documents due to the fact that they sit at home and do not work. For many, the lack of proof of earnings is the main obstacle to obtaining borrowed money, which is sometimes so needed - the birth of a child causes significant expenses, and there is no confirmation of the presence of a permanent source of income.
Women think that they will be denied loans and do not look for options for obtaining a loan while on maternity leave. However, applying for a loan is possible in several different ways without receiving a refusal. You can apply for the following types of loans:
- targeted loan;
- consumer loan;
- issuing a credit card;
- obtaining a mortgage.
Targeted loan
The easiest lending option is to try to purchase household appliances, necessary equipment, accessories, strollers for your baby in specialized departments responsible for issuing commodity loans. Young parents will not receive money, but they will buy the necessary thing. Such a loan is convenient because it does not require collecting an extensive package of documents, waiting for a positive decision, or fearing that the loan will be refused. The disadvantages of a targeted loan include high interest rates and short repayment periods.
Consumer
Many banking institutions give money to borrowers if the latter cannot provide proof of income. Promotions promote such loans as loans based on two types of documents. Women on maternity leave receive cash that can be spent without reporting to the creditor. It is also possible to transfer funds to the applicant’s debit or credit card. Consumer loans are deservedly popular - they are easy and simple to apply for, but the interest rate is high, and the overpayment on the loan will be significant.
Credit card
A good option for getting money when you need it is to get a credit card. If a young mother applies to a bank for credit funds for the first time, and she does not have a positive credit history, then she can apply for a minimum loan amount. You should take care of obtaining a credit card before going on maternity leave, then there will be no problems with providing information about your salary to the lender.
The preferred method of obtaining a loan during maternity leave would be to apply for a credit card at a financial institution where the expectant mother receives a salary and expects to receive maternity money and benefits. You can agree that the funds coming into the account will be written off to pay off the loan debt, and on a long grace period. If credit card debts have been repaid on time for several months in a row, then you can qualify for an increase in the available limit of funds.
Mortgage loan
It’s a paradox, but getting a mortgage can be easier for mothers on maternity leave with a baby than for working citizens. Many banks practice assistance programs for young families, using maternity capital to make a down payment and further repay debt. However, getting a mortgage is not so easy - you will have to provide information to the credit and financial institution that the woman has the right to use the social program to help young families. Many banks require the involvement of co-borrowers and a preliminary down payment.
Lending terms
The more documents a woman provides indicating solvency and reliability, the greater the chance of getting a loan during maternity leave on relatively soft terms. Depending on the type of loan chosen, the conditions vary as follows:
- A targeted loan is taken out at 8-28% per annum for a period of up to three years with annuity repayment of interest and the loan principal. The loan amount depends on the item purchased.
- Consumer loans are issued at 13-27%, depending on the loan term, which is 1-3 years. You can claim up to 3 million rubles. Issued for 1-5 years.
- The credit card is issued for two years at 18-38% per annum. The maximum limit of funds that can be spent is 700 thousand rubles.
- The mortgage is given for a long time - up to 30 years. You can borrow 3-10 million rubles at 9-15% if you can participate in the program for young families.
Requirements for the borrower
Banks present a standard set of claims to a woman applying for a loan while on maternity leave. If it cannot confirm its own solvency, then additional collateral will be required so that the credit institution can minimize the risks that arise when subsidizing a client who does not provide information about wages. These requirements include:
- making a large down payment;
- availability of guarantors, co-borrowers;
- collateral liquid property;
- good credit history;
- information about additional sources of income;
- long work experience in one place.
Availability of guarantors
You can involve close relatives in obtaining a loan if they agree to act as guarantors or co-borrowers. Banks are favorable to the idea of dividing the responsibility for repaying the loan between the applicant’s relatives and friends. Most financial and credit companies limit the number of guarantors to 3-5 people. If the co-borrower provides information about a high, stable salary, the bank may accommodate the woman on maternity leave and reduce the interest rate for using borrowed money.
Collateral property in the property
If a woman needs to buy a car or purchase an apartment, then when issuing credit funds, she will have to leave collateral to the bank. This is the property or car being purchased. You can try to get a non-targeted loan by pledging liquid property - the loan amount depends on the estimated value of an apartment, house or car, amounting to up to 75% of the collateral price. This option for receiving funds is preferable because many banks are willing to issue large sums if the debtor provides good collateral without requiring information about income.
Positive credit history
When checking a borrower’s maternity leave application for a loan, bank employees check the credit history against the available database. Financial institutions cooperate by providing information about debtors to each other, and if the credit history contains information about late payments, forced collection of debts, or legal claims by the creditor, then the loan will not be approved. If you are a regular payer, who has been a bank client for many years and repays all payments within the specified time frame, the likelihood of receiving a loan increases.
Additional sources of income
Documentary evidence that the mother, despite maternity leave, has a positive account balance that can be used to repay the loan sharply increases the likelihood of the loan being issued. At the same time, banks do not consider maternity payments for a child as additional income, rightly assuming that these funds should be spent on providing for, raising and developing the child. If there is data on monthly payments received to the mother’s account during maternity leave, be it dividends on deposits or other income, then banks can approve a loan on good terms.
Long work experience
Information that a woman’s maternity leave is preceded by a long period of work in one place has a positive effect on bank managers making a positive decision on issuing a loan. This fact indirectly indicates the reliability and good solvency of the borrower, especially if she has a debit account with a credit institution into which salary funds are received.
Where to get a loan while on maternity leave
Many large financial and credit structures offer acceptable and loyal conditions for issuing loans with low interest rates. You can see them in the table below:
| Name of credit institution | Type of loan | Interest rate, % | Additional terms |
| Consumer | |||
| Renaissance Credit | In cash | Official employment, provision of a foreign passport, copies of a work record book, diploma |
|
| Home Credit Bank | Cash | ||
| PochtaBank | Credit card | Grace period 120 days, limit 500 thousand rubles |
|
| VTB Bank of Moscow | Credit card | Limit 350 thousand rubles, preferential rate for the first 50 days |
|
| Citibank | Credit card | Grace period 50 days, credit limit 300 thousand rubles |
|
| Tinkoff | Credit card | Deferment 55 days, 700 thousand rubles |
|
| Alfa Bank | Credit plastic carrier | Deferment 60 days, 500,000 rubles |
|
| Ural Bank for Reconstruction and Development (UBRD) | Cash | The first six months the rate is 63%, the second - 22%, the third -13%, subject to the provision of information about earnings |
|
| Bank UralSib | Deposit 40% of the housing price |
Features of lending in microfinance organizations
The urgent need for money prompts young mothers on maternity leave to seek help from microfinance organizations that provide loans upon presentation of one passport. It is easy to obtain cash finance from an MFO, but we must not forget about the conditions that will have to be met when collaborating with a lender:
- The loan is issued in cash, but the amount of funds is limited - you cannot take out more than 30,000 rubles.
- The term for using loan money is short – 1-3 months.
- The interest on the use of funds is high and can reach 500-700% per annum.
- The terms of the loan agreement cannot be changed after the fact.
- Fines and sanctions for late payments are 2% per day.
- The rate may be reduced if the client has successfully repaid the first loan and wants to take out another loan.
How to get a loan for mothers on maternity leave
Maternity leave and a small child in your arms do not mean that a young mother has a lot of time. Constantly being busy with maternity issues and lack of money can lead to rash decisions regarding obtaining a loan. To avoid having to pay large sums later, you need to follow the following algorithm:
- Calmly think about what money is needed for, what amount is missing.
- Familiarize yourself with all the options for obtaining a loan if you do not have a regular income.
- Choose a suitable financial institution, find a program with the most acceptable conditions.
- Collect the necessary documents, give them personally to employees or send an application via the Internet.
- Wait for a positive decision and receive money.
What documents are required
Loan products require individual issuance conditions, so you will have to collect the necessary package of documents depending on the specific requirements of the financial structure. A potential borrower may need:
- Passport or other identification document. Sometimes you need two documents - a driver's license, a passport.
- Information about maternity capital, if participation in special programs is expected.
- Personal data of co-borrowers and guarantors.
- Information about mortgaged property - cadastral certificates, certificate of title, assessment of the value of housing by experts.
Video
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Popular wisdom says that there is no such thing as too much money.And when a baby appears in a family, there is often not even enough reserve fund. The monthly purchase of small items adds up to a tidy sum. Where can I get money? In response to this question, the thought of borrowing in the form of a loan often arises. My story will help you figure out how to get a loan for young mothers on maternity leave.
What are the chances of a young mother getting a consumer loan?
The essence of the concept of “loan on maternity leave” is that the purpose of receiving funds is not monitored by the bank. The financial institution only requires a guarantee of repayment of such a loan.
It is possible to borrow money while on parental leave. But the chances vary from person to person. In order to increase the likelihood of receiving a loan, you need to make some efforts and prepare certain documents and data.
Credit card - the most convenient and profitable type of loan. Money is used only when really needed. All at once or in parts. Credit cards usually have a grace period. This implies interest-free use of funds, subject to the repayment deadline. Usually 1 or 2 months. You can use the money again after some time has passed after paying off the debt. How long should I wait (several hours or days)? It is better to check this with the bank when applying for a credit card.
Another alternative way is obtaining a consumer loan in cash. Nowadays, this service is widespread in banks and credit societies. The intended purpose of the funds also does not matter. But you should understand that the loan will be very expensive if you receive it on basic terms. Below I will talk about ways to reduce the cost of a loan.
If money is required for the purchase of a specific product
, it is recommended to pay attention to the terms of purchase. Large stores often offer the option of purchasing goods on credit or in installments. It is quite easy for a young mother to get such a loan, since the verification by the bank in this case is minimal.
My story of getting a loan while on maternity leave
Maternity leave is a wonderful life experience. Having visited it once, I know exactly what I will do next time. For example, I will provide myself with mandatory insurance in the form of a credit card even before going on maternity leave. As I already said, a credit card itself does not obligate you to anything if you do not use the funds in its account. Why before going on vacation? After all, then you can easily confirm your income and the fact of your employment at the enterprise.
By the time I was faced with the need to find additional funds, I was already in the active vacation phase. I was raising a child and had not been to work for several months. Two banks refused me, so I asked myself some questions. Why is this happening? What should I do to get a loan? After studying the information I found, I realized in which direction I should move.
In the company where I worked for several years before going on vacation, I managed to establish myself as a decent employee. And it was not difficult for me to turn to management with a request to confirm the fact of my work at the present time. Within a few days, the secretary, accountant and managers were armed with the necessary information and successfully completed their task. Only after such a check did I receive a loan.
I had to tell a little lie because I had no doubts about my team, I had good relationships with everyone. If you are not sure, it is better not to use this approach. The slightest mistake on the part of colleagues can result in being blacklisted by the bank.
How I managed to get a loan while on maternity leave without any problems
The likelihood of receiving a loan and its cost (interest, insurance) directly depend on the payment guarantees. Literally every document provided during registration reduces the interest rate. It is not problematic to take out a loan if you have two documents. However, the final fee for using the loan can amount to more than half of the loan.
Be sure to think through the answers to questions you may encounter. There aren't that many of them.
Also, to change the cost of the loan, every effort should be made to ensure:
- credit history (if possible);
- guarantors (from among relatives, friends or employers, if you have been working at the company for a long time);
- collateral (movable or immovable property);
- confirmation from work (example above, my personal experience);
First of all, you should contact the bank through which wages are calculated. Since the institution already stores data about its clients, the list of additional documents will be minimal.
It is best to apply for a loan at the beginning or end of your vacation. In the first case, you can easily confirm your income for the last few months (without notifying the bank of your intentions). In the second, you may be lucky if you can make convincing arguments that going back to work will take place in a few weeks. Or, again, agree with management to confirm early return to work.
The debate about the advantages and disadvantages of loans has been going on for years. It is very difficult to rely on reviews from people who, in principle, do not need a loan and live in abundance. Or those who, having taken out a loan, forgot about the payment terms and are now forced to pay large penalties. It can be unequivocally stated that a loan should be taken only in cases of extreme necessity, confidence in one’s capabilities and thorough calculations. And it’s better if everything goes without even the slightest omission or hint of deceit. Flirting with the law is always fraught...
Having a child requires considerable material costs. Everything from diapers to decorating a child's room costs money.
So sometimes you have to look for borrowed funds. Is it possible to take out a loan while on maternity leave? We'll talk about this later in the article.
The existing lending system is aimed at meeting the needs of each person and allows you to apply for a loan using a simplified scheme.
The key requirements for potential borrowers are:
- citizenship of the Russian Federation;
- permanent registration;
- employment;
- stable income.
And if there are practically no problems with the first two requirements, then the last two turn out to be almost impossible for most mothers on maternity leave.
After all, maternity leave requires staying at home, employment is temporarily suspended, and the income of most of them is limited to child benefits.
The woman has nothing to prove her income. At the same time, banks do not pay attention to past income, even if it was very decent. Only the current status is taken into account.
All the facts indicate that maternity leave is not the best time to apply for a loan. It’s good if the borrower is a working husband or parents.
But there are a number of circumstances under which a woman on maternity leave is forced to take out a loan for herself, for example:
Situations are different, so this question is very sensitive. In all of the above cases, getting a loan for a woman is quite problematic, but not hopeless.
Is it possible to get a loan while on maternity leave?
Women on maternity leave can still apply for a loan. Similar situations are provided for by the financial products available on the banking market. In addition, banks are interested in regular customers.
A woman on maternity leave is a promising client. A mortgage, an education loan, a contribution for the benefit of a child - and this is not a complete list of services that a mother can use in the future.
It should be noted right away that many banks are speculating on this issue, for example, increasing loan interest, offering expensive insurance and additional payments.
All this is a payment for the risks that a bank is forced to take when lending to a woman on maternity leave.
In order for banks to approve a maternity leaver’s loan application, you need to convince them of your creditworthiness. How to do it?
The easiest way to get a loan is at the beginning and end of maternity leave.
If this is the very beginning, then you can still officially confirm your income for the last months. True, in this case you will have to keep silent about the upcoming maternity leave. So seize the moment!
The likelihood of loan approval increases if there are 2-3 weeks left until the end of maternity leave, and the job is registered with you. In this case, you need to convince the bank employees that you are not going to quit.
It’s even easier to get a loan before going on maternity leave by applying for a credit card in advance.
You can store money on the card for a long time, using the funds during maternity leave.
The loan amount and its cost directly depend on the number of documents provided.
Thus, a passport and a compulsory medical insurance policy will make it possible to take out a loan only at the maximum interest rate and only up to 100,000 rubles.
Each additional document (PTS, VHI policies, CASCO insurance, certificate of ownership, etc.) increases the loan amount and reduces the interest rate.
A woman on maternity leave may need money for various things, according to which different types of loans can be issued, for example:
All these types of loans have their own characteristics.
Commodity loan
If we are talking about buying a product on credit, for example, a refrigerator or washing machine, then you can arrange it directly in the store.
This is done quite quickly on the basis of 2 documents and without in-depth checks of the applicant’s solvency.
And if the maternity leaver makes an advance payment to the cashier, then there should be no problems at all. The only disadvantage of such a loan is a larger overpayment than with standard lending.
To apply for a credit card, a passport will be enough.
And if, in addition, the maternity leaver is a regular client of a certain bank, then there will be no difficulties at all.
A simpler way to borrow money while on maternity leave is with bank cards with a limit.
True, the lack of proof of earnings significantly limits the loan amount available using “plastic”, but it may be enough for urgent needs.
Main features of credit cards:
- Grace period;
- limited funds limit;
- increased percentage.
Despite the increased interest rate compared to classic loans, plastic cards allow you to use an affordable credit limit, during which no interest is charged at all.
As a rule, the credit limit is 50-60 days, which is very convenient.
Car loan
Some time ago, a woman on maternity leave could not even think about taking out a car loan. But today the situation has changed dramatically due to the fierce competition that has arisen in the car lending market.
Banks and car dealerships have developed a number of joint programs that do not require mandatory proof of income from the borrower.
For example, Sberbank offers a car loan without a certificate of earnings when you make at least 30% of the down payment.
At the same time, the absence of a certificate of income does not affect the interest rate, since its value depends on the loan currency, term and type of car (new or used).
In this case, the bank risks little, since the car remains pledged until the loan is repaid. In addition, the borrower purchases insurance.
The only negative: a car loan will be quite expensive.
Many banks provide consumer lending services to expecting mothers on maternity leave.
The only restrictions in this case will be:
- high interest rate;
- short term borrowing;
- small loan amount.
Lack of proof of income for a maternity leave will provoke an increase in the interest rate and a reduction in the loan term.
Alas, any bank mortgage still requires mandatory proof of income. Banks have tightened their requirements for housing borrowers, so a young mother on maternity leave is unlikely to be able to get a mortgage.
However, there are a number of loan products that allow families with small children to take advantage of benefits and subsidies. True, young mothers will have to involve several guarantors and co-borrowers for a mortgage loan.
What benefits can a borrower on maternity leave count on when applying for a mortgage? Let's consider them further:
To receive an express loan, it is enough to present only 2 documents proving the identity of the borrower.
In addition to your passport, you can provide:
- driver's license;
- military ID;
- international passport;
- pension or insurance certificate.
Fast lending programs allow mothers to take out a loan in literally 1 hour directly from the bank or right at home by filling out an online application.
Business loan
Let’s say right away that banks are very reluctant to lend to start-up entrepreneurs and are unlikely to give loans to women on maternity leave. However, you can try.
For example, Sberbank has a special loan program for purchasing a franchise business with very favorable conditions.
And if you can’t get a business loan from Sberbank, then we advise you to look for financing in venture and municipal funds to support small businesses.
The most extreme option is to apply for a loan from non-bank organizations or private individuals.
It can be:
- pawnshops;
- private investors.
The urgent need for money forces young mothers on maternity leave to apply for a loan from microfinance organizations that issue loans only with a passport.
It’s easy to get finance here, but it’s worth remembering the conditions that the borrower will have to fulfill:
- The amount of funds is no more than 30,000 rubles.
- Duration of use – 1-3 months.
- The interest rate is huge, can reach 500-700% per annum.
- Fines and sanctions for late payments are 2% per day.
Many large financial institutions offer acceptable conditions for issuing borrowed funds at low interest rates. Where should a woman go on maternity leave?
Here are just a few names of banking organizations:
Of course, a woman on maternity leave will have to spend a lot of time searching for “her” lender. However, at least one of the above banks will have a program that is suitable for this category of borrowers.
So, getting a loan for a woman on maternity leave is difficult, but quite possible. However, in this case, it is necessary to provide the bank with additional guarantees for the return of funds (co-borrowers, collateral, etc.).
In this case, the choice of banking products will be limited, and interest rates will be increased. But there is still a choice.
Pregnancy and the birth of a child are a trembling, long-awaited time for a young woman. It happens that during maternity leave a young mother needs money to meet household needs and the needs of the child, but a young family or a single mother does not have enough funds. What remains? Lending only.
But do they give loans during maternity leave?
The bank is loyal to lending to individuals, but women on maternity leave are a separate category. They have no way of confirming solvency; a woman receives maternity benefits, the amount of which is more modest than the previously paid salary.
The situation is worse with regard to the prospects of a young mother: there is no guarantee that after returning from maternity leave the woman will continue to work in the same position with the same salary.
Banks are financial organizations; they consider exclusively the current situation and do not take into account the potential borrower’s previous income. In addition, the period of birth and early upbringing of a child is marked by significant expenses, which affects the behavior of financial institutions issuing loans.
In a word, maternity leave or maternity leave is not a very good time for lending to a young woman. We have to admit: the best way out of the situation would be to take out a loan for your husband or parents.
What should women do who do not have such an opportunity?
Issuing credit cards
The most accessible way to get a loan is to apply for a credit card.
Banks are favorable to promising clients: a woman will go to work, and in the future she may need other financial services. A credit card is usually issued.
But there are pitfalls everywhere:
1. The bank needs confidence in solvency. If, before maternity leave, a young mother had no work experience, worked unofficially, without obtaining a work book, the chances of having a card drop;
2. the bank will not fail to set the highest interest rates on the card;
3. Usually the card limit is set to a minimum (low income).
How to increase your chance of getting the required limit on a credit card?
1. When choosing a creditor bank, you should first contact the organization where the account has already been opened and where the salary was previously transferred, or better yet, contact the bank to whose account current social payments are transferred;
2. The near end of maternity leave increases the chance of receiving a favorable offer on a credit card;
3. A good credit history is required. ↪
If you are pregnant, you should think in advance about possible expenses and get a credit card - you can use it if necessary; if it turns out to be unnecessary, you will not lose anything.
Applying for a consumer loan
It is possible to take out a consumer loan for a woman on maternity leave. The most affordable option is purchasing goods on credit: in the store, when applying for a loan, they require a passport; there is no need to notify the bank employee about the maternity leave. The second option is to apply for an express loan or upon presentation of two documents - in this case there is no need for confirmation from work.
Negative sides This type of lending has high interest rates and a small loan amount.
But receiving a significant amount of cash is unlikely: it is rare that a bank will lend more than 100 thousand rubles. In this case, the bank will necessarily require the involvement of guarantors or collateral of property that can be sold in case of non-payment of the debt. Additionally, the bank hedges its bets and charges higher interest rates.
So, when finding out whether they give a loan during maternity leave, we conclude: One way or another you can get a loan. In this case, a sober assessment of your own prospects for obtaining a loan, based on your personal credit history, will save a lot of time, which can be spent waiting for a response from the bank.
To get your own CI, you can contact BKI, but it’s easier and faster to use an online service that provides a full report on your credit history within a few minutes and assesses the real chances of getting a new loan (for example, bki24.info↪). After carefully reviewing the report, you can conclude whether it is worth going to the bank or whether you should not have any illusions and immediately contact alternative financial organizations, such as a pawnshop, microfinance organization or private investors.
Such a step as lending cannot be considered reasonable at a time when finances are insufficient. It may seem that this is the only way out, but the problem can get even worse, so while on maternity leave you should take out a loan only when the losses from lack of money today are greater than the loss of money over the entire period of lending.
Do they give a loan during maternity leave - the answer to young mothers! was last modified: May 4th, 2017 by Alexander Nevskiy
Loans up to 100,000 rubles
- up to 100,000 rubles
- 1 year.
Consumer loans
- 50,000 - 3,000,000 rubles
- up to 7 years
- 1–25 million rub.
- 6–30 years
