This question does not have the only correct answer. When buying consumer goods, we try to get the best quality product at an affordable price. When choosing a bank, the characteristics of the quality of services offered are not always obvious, the cost stated in advertising leaflets often does not correspond to reality, and credit products are not at all available to everyone.
When deciding how to choose a bank for lending, decide what is your priority: speed and guarantee of receiving money, the minimum interest rate, low overpayment, or the possibility of early repayment without additional fees?
It makes sense to consider not only large, but also regional, less well-known banks, as well as non-bank credit organizations, payday loan lending services operating without intermediaries. They are interested in attracting clients and often offer more favorable conditions, and some are less demanding on a set of presented documents.
The main requirements that banks impose on potential borrowers are age, presence of registration in the region where the bank is present, official salary, length of service at the last place of work. Make sure that you meet the requirements of the bank according to the criteria specified by them. The list of required documents is usually listed directly in the terms of the application. A mandatory minimum is a passport, but to get approval on favorable terms, be prepared to confirm income.
Beware of tempting offers to get money in an hour giving only passport details - such loans are usually issued at huge interest rates and often contain hidden fees and other additional conditions that may come as a surprise. The stated rates of 1-2 percent per day are equivalent to 365-700 percent per annum. Perhaps, you should wait for the consideration of the application and get a consumer loan on more favorable terms, or just refuse such a loan so as not to overpay the excess.
Consider whether you can relate to the category of citizens who are offered preferential rates. It is also possible that a loan for your purpose is issued on special conditions. The most common “special groups” of borrowers are government employees, the military, and retirees. Differences in the terms of a loan in the same institution can be determined by its purpose: you can choose a special program for buying a car, housing, repairs, or tuition.