If you have not yet acquired such a payment instrument, then you have the opportunity to order it remotely by visiting the website of the banking structure in question.
Borrower option at VTB. Selecting a suitable payment instrument
To understand which payment instrument from those offered by the banking structure in question is best for you, it is recommended that you familiarize yourself with the features of all available cards and only then make your final choice. You need to understand that the borrower option can be connected to almost any payment instrument from the banking structure in question, and the conditions for using the option will depend not on the type of card, but on how much borrowed funds you used. Thus, you can choose almost any payment instrument from the banking structure in question.
If you do not need a physical payment instrument, but at the same time you have decided to use the borrower option from the banking structure in question, then you have the opportunity to order a digital multicard. Among the features of this payment instrument, it is necessary to mention that the more funds you spend from its account, the more additional options will become available to you.
You should also be aware that, in accordance with the current rules of the banking structure in question, up to three additional cards can be connected to the digital payment instrument. This will allow you to allocate a separate payment instrument to each member of your family, as well as receive increased cashback.
Features of the “Borrower” option
As for the “Borrower” option itself, its essence is quite simple. Let's say you use borrowed funds, and the fee for using them is an interest rate of 25%. After activating the mentioned option, the interest rate will be reduced by 10%. Thus, the real interest rate will be 15%, which will make the use of borrowed funds more profitable.
In theory, everything looks simple, but in reality everything is a little more complicated. The fact is that the size of the interest rate reduction under the borrower option depends on how much money you spend from your payment instrument account monthly. Thus, the more money you spend, the more significant interest rate reduction you can expect under the borrower option. Also, the size of the interest rate reduction is influenced by what type of loan you took out.
Practice shows that many clients of the banking structure in question are interested in the question of whether the loan payment schedule will change after connecting the borrower option. In fact, in accordance with the rules of the banking structure in question, after connecting the option in question, the payment schedule does not change. Therefore, you will be required to make monthly payments according to the current schedule. The only difference is that after activating the option in question, the current interest rate will be recalculated.
You will be required to make monthly payments in full, and the difference resulting from the interest rate recalculation will automatically be credited to your payment instrument in the form of a bonus.
How can you use accumulated bonuses?
After you activate the option in question, over time your card will accumulate a certain number of bonuses that can be used to solve the following tasks:
- Payment for various goods and services at retail outlets.
- Payment of monthly installments on loans issued through third-party banking institutions.
- Also, if you wish, you can transfer the received bonuses to a savings account in the described banking structure.
- In addition, accumulated bonuses can be used to pay for a variety of goods and services in online services.
The procedure for using the described option should be considered using a simple example. Let's say you have a regular multicard, which receives your salary every month. Let’s say you spend 75 thousand rubles monthly from the account of this payment instrument. Previously, you took out a mortgage loan with an interest rate of 10% from the banking structure in question. Thus, to repay the mortgage loan, you will have to pay 30 thousand rubles every month for 10 years.
At a monthly cost level of 75 thousand rubles in accordance with the rules of the described option, you can count on a reduction in the interest rate on the loan by 0.6%. Consequently, the mortgage interest rate is reduced to 9.4% (10-0.6).
In accordance with the rules of the borrower option, after connecting it, you will need to make monthly payments in the original amount, namely 30 thousand rubles every month. In this case, the interest rate on the mortgage loan will be recalculated and to repay it you will need to pay only 29,251 rubles every month. This creates a difference of 749 rubles (30,000-29,251), which will be credited as bonuses to the account of your payment instrument.
To understand how much bonuses you can count on, you just need to use a specialized calculator, which is located on the website of the banking structure in question. Using this tool is extremely simple. You just need to find the instrument in question on the VTB website and perform the following steps:
- First of all, you should indicate the type of loan (credit card, mortgage, cash).
- The next step is to enter the current interest rate.
- Next, you must enter the amount of the monthly payment in the field provided for this purpose. You can find out the exact amount of the payment by looking at the agreement that you signed when receiving it.
- The next step requires you to specify the validity period of the loan agreement. You can also get this information by simply looking at the contract.
- Then, in the field specially designed for this, you should enter the amount of your monthly expenses from the account of your multicard. The total costs take into account all your purchases, paid for both with your own and borrowed funds.
- At the final stage, you just need to click on the “Calculate” button, after which the tool will perform all the necessary calculations and provide information about how much bonuses will be credited to your card every month.
How can I repay a loan?
The client must make annuity payments throughout the loan term. In 2021, the easiest way to pay off debt is to use VTB online services.
The classic option is going to the department. Employees of the organization are provided with:
- passport;
- personal account number or card.
First you need to visit the official website of the organization or install a special application. Next, log into your personal account and select the loan payment service. VTB Online allows you to set the day for the monthly automatic transfer of money to the bank, simplifying the procedure as much as possible.
If you have a card, you can use ATMs. Having selected the required option, the bank borrower indicates the data from the contract, then the amount is entered (a commission is possible).
You can pay the loan by transfer from a card of any banks (a commission is charged). The maximum amount of one transfer is one hundred thousand rubles. The monthly limit on the recipient/sender card in 2021 is one million.
Alternative methods to make a payment:
- access the services of Russian Post;
- use a payment terminal;
- transfer money from accounts in other financial institutions;
- send funds through the “Golden Crown” service.
Requirements for potential program participants
Naturally, to activate the option in question, you will need a VTB payment instrument. In order for you to be able to activate the “Borrower” option after receiving a payment instrument from the described banking structure, you need to make sure that you spend at least 5 thousand rubles from your card account every month. If you spend less money every month, then you will not be able to activate the option in question.
The fact that the amount of the discount by which the interest rate on the loan you receive will be reduced will depend on the volume of your monthly spending:
- If every month you spend 5-15 thousand rubles from your card account, the discount will be minimal.
- When spending from a payment instrument account in the amount of 15-75 thousand rubles, the discount will be slightly larger.
- You can count on the biggest discount if you spend more than 75 thousand from your payment instrument account. Then the size of the discount you receive will be maximum.
Bank requirements for a borrower to apply for a consumer loan in cash at VTB24
The bank provides its clients with the opportunity to take out consumer loans, both in cash and by transfer to a credit card.
The loan amount can vary from 50 thousand rubles to three million rubles .
If the loan exceeds the amount of 750,000 rubles, then the bank sets a condition - the borrower must have a guarantor .
The borrower and his guarantor must meet the basic requirements of the bank in order to receive a consumer loan, namely:
- Must be citizens of the Russian Federation.
- Age over 21 years.
- Have temporary or permanent registration in the region where the lending branch of the bank is located.
- Have a permanent job and work experience of at least 12 months.
- Have a sufficient level of paying ability.
- Have a positive credit history.
Additional conditions may vary slightly, depending on the choice of loan program.
For example, when choosing the “Refinancing” program, a loan amount is provided in cash to both salaried and new clients, regardless of gender, but taking into account the age range from 21 to 70 years.
But there is one nuance here: when the client’s age reaches the maximum allowable limit, you need to have time to repay the loan.
Discount amount depending on loan type
It will be useful for you to know that, in accordance with the rules of the program in question, you can reduce the interest rate on the following types of loans:
- Cash loan.
- Credit card.
- Mortgage loan.
The maximum discount applies to credit cards, up to 10%. If you have previously taken out a mortgage loan, then when you activate the “Borrower” option, you can count on a discount of 0.2-0.6%. When applying for a cash loan, the maximum discount is 3%.
The fact that if you own a debit card deserves special mention, the discounts will be significantly smaller. If you have previously taken out a mortgage loan, the maximum discount you can count on will be 0.3%. As for cash loans, the maximum discount is 5%.
Borrower insurance
VTB 24 has developed a life and health insurance program for clients. It has a voluntary status and is not reflected in the final decision to issue a loan. In the situation specified in the agreement, the bank independently makes annuity payments and provides financial support to the borrower. The term of the additional service is equivalent to the period specified in the loan agreement.
There are two variations of the program:
- Life+.
- Pro.
The first covers the risk of temporary or permanent total disability or death. The second differs only in that it also provides assistance in leaving a job. Insurance is offered by the manager-consultant when applying for a consumer loan.
