Кредитное соглашение (Bank loan)

A bank loan is a sum of money that a bank gives for a certain time and on certain conditions.
The Bank develops internal documents that provide conditions.
The issuance of a loan depending on the type of client can be carried out in the following order:

• legal entities - in non-cash form by crediting funds to the current account.
• individuals - in non-cash form by crediting funds to a person’s account in a bank or in cash through a bank cash desk;
• loans in foreign currencies are issued to legal entities and individuals only in non-cash form.
  A loan is issued on the basis of an order drawn up by a specialist of a credit bank and signed by important people at the bank.
  
  In the financial system of the country, various types of loans have formed, differing in many parameters. The following groups of loans:
• by payment terms - short-term (up to six months), medium-term (from six months to a year), long-term (more than a year);
• industry orientation - in industry, construction, transport, trade, etc .;
• security - direct (they are issued by certain inventory items), indirect (provided to cover the cash gap in the payment turnover).
• usage fee - paid (a person pays interest), free (a person only returns the debt without paying interest);
• the subject of credit relations - commercial, consumer, state, international and bank loans.

In a market economy, a loan performs the following functions:

• accumulation of temporarily free cash;
• redistribution of funds on the terms of their subsequent return;
•  the creation of credit instruments of circulation (banknotes and treasury bills) and credit operations;
• regulation of the total cash flow.

Credit comes in various forms; the main ones are commercial credit and banking.
Commercial - this is a loan provided by legal entities related either to the production of goods or to their sale to each other when selling goods in the form of a deferment of payment of money for goods sold. The instrument of this loan are commercial bills. Two forms of promissory notes are most widespread: a promissory note containing a direct obligation of a borrower to pay a specified amount to a creditor, and a bill of exchange representing a written order to a borrower from a creditor to pay a specified amount to a third party or a bearer of the bill.
Commercial credit is the basis of the entire credit system. Its necessity follows from the process of reproduction itself. For a number of reasons (differences in the time of production of goods and the time of their circulation, the seasonal nature of the production and marketing of some goods), some manufacturers already appear with their goods on the market, while others do not yet have goods sold, and therefore they do not yet have cash. In these conditions, the first can sell their goods only by selling them on credit. Commercial credit accelerates the sale of goods and the entire process of capital circulation. It is also necessary in the relationship between industrial and trade organizations.
Commercial credit has a strictly limited direction: it can be provided by industries producing means of production, industries that consume them, but not vice versa. A machine-building plant, for example, can sell looms on credit to a textile factory, but the latter cannot provide a commercial loan to the former.
2. Bank loan.
A bank loan is a loan provided by banks to borrowers in the form of cash loans. There are the following significant differences between commercial and bank loans.
Firstly, the object of a bank loan is monetary capital.
Secondly, with a bank loan, only one of the participants in the loan transaction - the borrower acts as a legal entity, its other participant - the creditor - acts only as a financial and credit organization.
Thirdly, with the help of a bank loan, not only can one party transfer to other people for temporary use part of their reserve capital, but also receive additional capital from funds raised by banks from various classes and sections of society. Bank credit is not limited in its direction either: through its money capital freed up in one industry, it can be sent to any other industry.

To apply for a loan at a bank, you need to know what the purpose of the loan is. After you find out why you need money, you need to collect all the documents.
Documents required:
1. Passport
2. Certificate of employment
3. Workbook
4. Birth certificate

You should carefully study all the conditions and clarify some issues.
1. Monthly payments. Do not be afraid to ask the manager exactly what the full cost of the loan, what is the repayment schedule and the size of the required payment.
2. The cost of bank services. Some banks charge a fee for reviewing a loan application, for maintaining a credit account and issuing cash or for making cashless transfers.
3. Currency. To avoid conversion losses, you should open an account in the currency in which you receive your salary.
4. Repayment of the loan. Be sure to find out if there are penalties for partial or full early repayment of a loan.
5. Insurance. Some banks automatically include life and human health insurance in the loan agreement.

A loan agreement is a document on the terms of which a lender gives money to a borrower. The loan agreement is drawn up by the lender in writing in 2 copies, with which the borrower must familiarize himself and put a signature in agreement with its terms. A lender can only be licensed credit organizations. They are divided into two groups: banking and non-banking organizations. Banking is, respectively, banks, non-banking - microfinance and microcredit organizations. The loan agreement comes into force immediately after the signing of the document by both parties. But loan obligations are assigned only upon receipt of money.