Refinancing of microloans is a special program offered by many Russian banks. It involves obtaining a loan on more favorable terms to repay existing loans. Refinancing allows you to avoid serious troubles - both accrued high interest rates and overdue payments. If the borrower is in a difficult situation, it is very important to perform urgent refinancing, because many banks refuse to refinance if there is already overdue debt.

What is microloan refinancing?

Refinancing loans of microfinance organizations helps to reduce the debt burden. Most MFIs lend money for a period of no more than a month, which in some cases becomes a problem. Having issued a new loan for a year or even several years, you can divide the amount of debt into a large number of small payments, the introduction of which is quite affordable.

You can refinance microloans in an amount that exceeds the debt and use the balance as you wish. It is important to choose the right bank that will provide the best conditions for on-lending to MFI loans. It is better to give preference to financial institutions in which the borrower receives a salary, pension, other payments, has a deposit or has previously been credited. Banks are more willing to approve the issuance of a loan to their customers and often offer more favorable terms.

How to refinance microloans

You need to refinance a microloan as quickly as possible, since the MFI charges high interest every day. You can choose a suitable program for on-lending several microloans on your own or use the services of our special website for this, which contains the best current offers of banks in the Russian Federation.

First of all, you need to submit an online application remotely via the Internet. Thus, it will become known in advance whether it is possible to refinance a loan in a particular bank or not. After it is processed by the bank, a preliminary decision on issuing a loan will be made. It is recommended to apply simultaneously to several banks. If one of them refuses, the online application can be approved by the other. If everyone approves, the borrower will be able to choose the best offer.

Requirements for borrowers

Each credit institution puts forward its own requirements for borrowers. In general, they differ, but slightly:

citizenship of the Russian Federation;

compulsory employment;

age limit 21-65 years;

at least 6 months of work experience at the last place of work;

registration in the region where the bank is present.

Often, the amount of microloans is small, so refinancing at the bank can be done without collateral. The borrower can reduce the interest rate by taking out life and health insurance.

One of the main requirements is a good credit history. Some banks refuse to refinance MFI loans that are in arrears or if there has been a delay.

Required documents

To apply for refinancing loans, you will need a standard package of documents that the bank requires for issuing a consumer loan, plus documents for refinanced loans:

• document confirming employment;

  document confirming income;

  loan agreement;

  repayment schedule (if any);

  statement of the status of the debt.

Banks have the right to require additional documents that confirm the solvency of the borrower and the state of the refinanced debts of the MFO.

Which banks refinance microloans

To refinance microloans in banks, you can use a special program or get a regular bank loan for these purposes, which is not targeted.

Which banks you should pay attention to:

Tinkoff- a fairly convenient bank with favorable lending conditions. You can use a credit card to refinance. Its limit is enough to repay the microloan. In addition, the card is a payment instrument with a convenient repayment scheme that can be used in the future.

Renaissance Credit- the bank is distinguished by its loyal attitude and simplified requirements for the borrower. Here you can get a loan for any purpose with just two documents, including without a certificate of income.

UBRIR- offers loans for any purpose, including refinancing. You can get money for a period of several months to several years. You can get a positive decision without a certificate of income.

OTP bank- here you can get a quick cash loan for any purpose, the bank considers the application within a day. The money received can be used for refinancing or other purposes.

Is it possible to refinance debts with a loan from another MFI? Yes, this should be considered as a last resort in case the banks refused. You need to choose a microfinance organization that offers better interest rates or a longer loan term.

Is it possible to refinance a microloan in an MFI

Is it possible to get money from the bank to repay loans to MFIs? Yes, despite the fact that most banks do not refinance MFI loans for a number of reasons, on-lending is still possible.

Often the problem is that borrowers turn to MFIs after trying to get money from banks and getting rejected for various reasons (lack of employment, insufficient income, bad credit history, etc.). Such clients may try to refinance loans with MFIs, but there is a high risk that they will be refused.

Another problem is that banks put forward special requirements for refinanced loans - their validity period must be at least 12 months, and the maturity date must be at least 3 months. This is not applicable to microloans, since most of them are short-term, although not all of them. But if the bank has not agreed on refinancing at the MFI, the borrower can apply for a regular consumer loan and use the funds to pay off the debt.

Let's put the question differently - do microfinance organizations refinance loans taken from other similar organizations? The answer will be negative.

Advantages and disadvantages

Refinancing is a profitable program that allows you to significantly improve lending conditions. But, like any other, it has its advantages and disadvantages.

Benefits of refinancing microcredits:

you can get it at a low interest rate - in any case, it will be lower for a bank than for an MFI;

extension of the loan term;

You can refinance multiple loans.

There are some disadvantages when refinancing microloans - there is always a risk of failure. And most banks do not lend to customers with bad credit at all. It is also necessary to prepare a package of documents, go through the approved procedure for considering the application, and this takes time. But all these shortcomings are insignificant compared to the main advantage that on-lending provides - obtaining more favorable conditions and real savings on interest payments.

If bad credit history and delinquency

Many borrowers turn to microfinance organizations out of desperation, as banks refuse to issue a loan to them. For them, refinancing microloans with a bad credit history will be quite difficult, and in some cases almost impossible (refinancing microloans with delinquency). Banks consider the situation of each client individually.

If the credit history is damaged, you can contact a young or small regional bank. Such credit institutions are more in need of customers, so they may put forward not very stringent requirements for loans from MFIs with prophets without collateral. Also, they do not cooperate with all BCIs, so there is a chance of a positive decision with a bad credit history, although it is not high. But it is worth remembering that it is possible to refinance a loan with overdue debt, the term of which is not more than a few days.

Another option is on-lending at the expense of a loan for which collateral is provided (car, real estate). Due to the collateral, the bank reduces the risks of non-repayment of a loan from a borrower who has already ruined his credit history, so it will be easier to apply for such a loan. The main thing is that you have something to pledge to the bank.

Who can help with refinancing

Borrowers who find themselves in a difficult financial situation should not consider refinancing as the only way to get away from unfavorable lending conditions. If in several banks they were refused, do not despair. Help can be obtained from loan brokers. They have information on the lending market of the Russian Federation, cooperate with many banks and are professionals, so they can assist in refinancing. A loan broker can find a profitable solution for everyone (for borrowers with a temporary residence permit, bad credit history, overdue, etc.).

For their services, they charge a commission, sometimes high. Practice shows that the benefit of the borrower is greater - he receives a new loan on favorable terms and saves a significant amount. But here you need to beware of scammers. Preference should be given to large and reputable brokerage companies. They will not only pick up a profitable offer, but they will not deceive. Such companies take payment only if they were able to help in refinancing and the loan was approved for the borrower. In other words, the client does not risk anything, as he pays only for the result.

What to do if denied

Unfortunately, refinancing is often denied. Banks prefer to work with reliable, solvent borrowers, without delays.

Who can be denied and for what reasons:

bad credit history;

insufficient income;

informal employment;

lack of permanent registration or residence in the region of the bank's presence;

inconsistency with age restrictions.

If your which you took from them. We have prepared an article for you where we described what to do in this situation.

Each of these stop factors reduces the likelihood of a positive decision, but does not eliminate it. The hardest thing is for those who have ruined their credit history. If the delay was one-time and was quickly repaid, there is a chance of success. In other cases, it is recommended to seek help from loan brokers, this is also advisable from the point of view of savings, since an independent search for a solution will take a lot of time, and a high percentage will be charged for every day on a microloan.

The problem with low income can be solved by extending the term.

You can also involve your spouse as a guarantor or co-borrower, in which case his salary will also be taken into account. In the Russian lending market, there are refinancing programs for those who are employed unofficially. In this case, you can provide a deposit or documents confirming additional income. The absence of documentary evidence in some cases will not be the reason for the refusal, but the amount of the loan agreed by the bank will be low.

Temporary registration or registration in a region where the bank is not present complicates the issue of obtaining a loan. But this is not important for all banks, so you need to look for those that are loyal to registration. This also applies to age - there are banks that are ready to lend at the age of 18 to 75 years.

In the last two or three years, MFI services have become more popular than cooperation with other credit institutions. Microloans are more affordable than bank loans. For registration, you need a minimum package of papers, and the requirements are less stringent. That's just huge interest is driven into debt, the overdue amount of debt is growing, increased interest is accrued. There is only one reasonable way out of debt - refinancing of microloans with delays.

Content

Is it possible to refinance microloans

Small amounts with a short repayment period are issued for the purpose of microcredit. In addition, the distinctive features of MFI products are:

• small, so-called payday loans;
• cooperation with customers even with poor CI. ↪ ;
• ease of registration of the procedure: a minimum of documents and requirements, full online support, from filing an application to receiving money;
• borrowed funds are available on the day of application. Moreover, the speed of registration of MFI services is so high that money can be available within 15 minutes after application.

The main feature of microcredit is high interest rates due to short term and small amount. The main target category is borrowers with poor IQ; customers who need urgent purchases. In addition, the main category of users are still irresponsible citizens who have not calculated their financial capabilities.

Since the formation of the first overdue debt, the MFI charges increased interest. The overpayment grows like a snowball, exceeding the amount that the client took.

It is very difficult to refinance microcredits, and even more so with open delinquencies. There are no banking programs aimed specifically at on-lending microcredits: Banks do not set themselves the goal of issuing small amounts. In addition, a client who uses the services of an MFI and has made a delay is unlikely to have a good credit history. Microfinance companies are still skeptical about on-lending: it is impossible to find a single specialized program on the market.

The only thing left for a borrower who wants to refinance with open arrears is to apply for a loan or a credit card at a bank or get a new microloan from an MFI.

Where to apply for refinancing of microloans with delays

So, the client decided to refinance, so as not to further worsen his situation and not drive himself into a debt hole. First you need to study the market for the provision of credit services for the availability of on-lending programs. It is unlikely that the borrower will be able to find targeted programs. Therefore, we recommend that you apply for a consumer loan or a credit card at a bank, get a new microloan from an MFI on more loyal terms, or contact an existing lender to revise the conditions.

Bank refinancing

The main criterion for choosing a bank and an appropriate loan program is the minimum requirements for obtaining. In addition, the client can apply for refinancing to a new bank that is gaining momentum. Usually such structures offer loyal conditions for attracting new customers.

The 100 loans website recommends only trusted lenders. If the client is going to apply for a credit card to repay a microloan with delays, it is best to choose the option with a long grace period. Good options would be:

Bank's name	grace period	Interest rate and maximum limit	Features of lending
from Tinkoff Bank	Up to 55 days	300 thousand rubles from 15% per annum	Monthly payments no more than 8%, free replenishment, fast processing of applications, bonus points for purchases, the possibility of home delivery, convenient Internet banking and a mobile application, the rate is 15-29.9% after the grace period expires.
from Alfa-bank	Up to 100 days	300 thousand rubles from 23.99% per annum	The possibility of interest-free cash withdrawals up to 50 thousand per month, payments from 3 to 10% of the debt, free release, filling out the application form and finding out the decision online on the site, the rate is 23.99% per annum, replenishment from any cards is free.
from UBRIR	Up to 60 days	150 thousand rubles from 27% per annum	Cashback 1% when making any purchases, the rate after the interest-free period is 27-32%, the amount of mandatory monthly payments is 3% of the resulting debt, the issue is free, the possibility of early repayment and without commissions.

From consumer products that can also be used to pay microloans with delays, the offers of the following banks presented in the table are suitable.

Name	Conditions	Nuances
	12.9%, up to five years 750 thousand rubles.	Several lending programs, benefits for pensioners and bank customers, leaving a request online, the ability to receive money on the day of application, connecting additional options to optimize payments.
	12.9% for 60 months in the amount of 1.5 million rubles.	Possibility to reduce the rate from the second year of repayment, early payments from the first day, deferment of the first payment, availability of financial protection for the entire period, obtaining a free debit card.
	12.5% ​​for five years 750 thousand rubles.	Filling out an online application, a decision within fifteen minutes, a convenient online calculator for preliminary payment calculations.

The conditions indicated in the table are the maximum conditions to be provided. Borrower for refinancing of microcredits, especially with delays, the maximum amounts and minimum rates will not be approved. However, the proposed options will be beneficial in any case. In addition, it will be possible to combine several existing microcredits into one agreement, drastically reducing the overpayment.

Applying to another IFC

If none of the banks approves a consumer loan or credit card, you can contact another MFI that offers more loyal interest rates.

The borrower resorts to refinancing microloans when it is necessary to combine several loans into one and / or improve lending conditions, namely: to reduce the interest rate and the minimum monthly payment, to increase the period. Usually, the closing of old debts is made by a new creditor by direct transfer of funds; loans for such purposes are not provided on hand. Where and how to get such a service will be described below.

Dear readers! The article talks about typical ways to solve legal issues, but each case is individual. If you want to know how solve exactly your problem- contact a consultant:

APPLICATIONS AND CALLS ARE ACCEPTED 24/7 and 7 days a week.

It's fast and FOR FREE!

Conditions

A potential client can refinance his microloan or several loans only if he submits to the lender identification documents showing his real income, as well as agreements on existing obligations.

Applications for refinancing are considered only from citizens of the Russian Federation who have reached the age of 21-25, have a job and are registered in the territory of the Russian Federation.

The rate for this type of lending is set at 25-75% per year. The amount is equal to the amount of debt on all obligations. The period can reach 1-5 years.

How to apply?

The conclusion of a refinancing agreement is slightly different from the execution of a standard microloan.

To pay off old debts and apply for a new loan, you must:

• submit an application in the way that the lender offers (remotely, in the office);
• provide the prospective lender with copies of existing loans;
• familiarize yourself with the proposed lending conditions (term, minimum payment, interest rate, etc.);
• to sign documents.

Most lenders providing refinancing services directly transfer funds to MFOs, banks to pay off debts, and do not give money to the borrower.

Online application

An application for refinancing a microloan can also be submitted remotely. As soon as it is analyzed, the potential client will receive a response.

With a positive decision, the future borrower still needs to contact the lender's office for further processing of the transaction.

It is impossible to conclude an agreement remotely for refinancing. The term for consideration of the application is from one day.

Line of offers

If you do not know which companies provide refinancing or are not sure about the loyalty of the conditions, then we recommend that you familiarize yourself with the lenders listed below.

Companies helped to close a large number of bad loans by offering a more forgiving rate, reduced minimum payment:

Refinancing of loans with delinquencies

Of course, if there are delays, then it becomes more difficult to get refinancing. The first thing experts recommend is to contact the bank, the MFI that issued the loan and try to resolve the issue without delay or by issuing on-lending.

If, nevertheless, this fails, then it is necessary to find a broker who will help, without income statements, guarantees and other additional conditions, to obtain refinancing. But brokers charge a considerable commission for such services - about 30% of the loan.

If the above options are not acceptable, try to find a lender on your own who will take on refinancing with delays, apply to all companies, as well as banking institutions that do not refuse customers with delays, for example: VTB, Raiffeisen Bank, Renaissance Credit.

With bad credit history

If you want to get refinancing from a bank, you should remember that such a service is provided only to customers with an impeccable credit history. If the credit rating is damaged through your fault, that is, no mistake was made, then it will be more difficult to get refinancing.

Most likely, large banking institutions will refuse, but small ones, fighting for each client, may turn a blind eye to a negative rating. Additionally, the client can offer a pledge, surety.

A good argument can be proof of the borrower's current solvency.

But if the above methods have not led to success, there are still microfinance companies, lending centers and other similar organizations that do not pay attention to credit history.

But it is worth remembering that such structures do not always offer favorable lending conditions.

In Moscow

If you live in the capital, have a job and registration, we recommend that you contact banking institutions to receive refinancing.

In the table there is a list of banks that offer favorable lending conditions:

Without a guarantor

If you want to get refinancing without a guarantee, you can contact the banks listed above, but if they refuse, only microcredit companies remain.

Below are the basic conditions for each MFI:

Urgently

Let's face it, it will not work in any credit structure to get refinancing in 1 hour.

In order for the company to make a decision, it needs not only to analyze the solvency of the borrower, but also to study the client's loan agreements for existing obligations.

Often it takes 1-3 working days and only after that the lender is ready to make his decision.

On the map

If you apply to a credit company and ask to refinance your loans, then you should not count on getting a loan in cash or on a card.

Usually, lenders directly transfer money to MFIs, banks and thus repay the debt. Such loans are not issued on a card or on hand.

Requirements for borrowers

In order to receive refinancing of their bad loans, the client must comply with several formal requirements:

• citizenship of the Russian Federation;
• age - from 21-25 years;
• permanent registration;
• permanent source of income;
• submission of necessary personal documents, as well as agreements on existing loans.

Perhaps the lender will indicate additional requirements that must be met, otherwise the loan will be denied.

Required documents

To obtain refinancing, the client must submit the following documents to the lender:

• passport;
• documents on existing loans;
• additional proof of identity.

Sometimes income statements or proof of employment are required.

Interest

Interest on refinancing depends on the credit company to which the borrower applies, as well as on the amount of debt. If the client contacts the bank, the rate can start from 15% per year, in MFIs - from 25-75% per year.

With the additional involvement of a credit broker, the service will become more expensive, since such an expert charges a commission for his services up to 30% of the cost of the loan.

Timing

An application for a decision is processed in about 1-3 days, the same amount of time is needed to prepare, sign an agreement and transfer funds to close loans.

When refinancing is issued, the client hopes for a reduction in the monthly payment.

In most cases, this is achieved by extending the loan term. Today, the refinancing period can reach 1-5 years.

How to repay?

Loan repayment is made according to the received payment schedule. Payments can be made once a month or more often. The payment scheme is annuity (in equal installments).

The client can pay the debt:

• through the cash desk of a credit company;
• through any Russian bank;
• in terminals;
• from a plastic card, etc.

If the transfer of funds is made through a third-party company, then the commission charged by the intermediary for the transfer of money should be taken into account.

Advantages and disadvantages

You should not look for the benefits of refinancing for a long time, they are all obvious:

• refinancing allows you to combine all existing, outstanding loans into one loan;

• A microloan is a great way to quickly solve a sudden financial problem. You can find many organizations both online and offline. The repayment period of such a loan is relatively short, and the money is issued quickly enough, without a close study of the identity of the borrower. In addition, they can be issued even to individuals with a bad credit history.

  Such facilitated conditions are pushing some citizens to re-loans. Thus, the debt burden is growing, and it is becoming increasingly difficult to repay the debt. Refinancing loans of microfinance organizations in other institutions can come to the rescue. This relatively new service is a real salvation for those who have ceased to cope with the sudden burden of credit.

  The best loan offers

  What is this procedure

  About the service loan refinancing many have heard in another bank. This is a refinancing procedure in which the creditor bank pays off the old debt of a citizen in another bank in order to get a new client in this way. Of course, such an operation is carried out on more favorable terms with a lower interest rate.

  Something similar can be done for microloans. The only difference is that it is not banks that are mainly involved in this, but some MFIs or a special agency for refinancing microloans - this is where you should seek help in the first place.

  

  In addition, this procedure has several other advantages:

  1. The ability to combine several microcredits from different organizations into one. In this case, it is much easier to control the state of the loan, repayment periods and the amount of monthly payments.
  2. The maturity of the new loan is extended. If you have more time to earn the necessary amount, sufficient for a return, it is much easier.
  3. The interest rate decreases along with the amount of the monthly payment.
  4. It is possible to refinance microloans with a bad credit history and open delinquencies.

  Why are unsecured debts in MFIs dangerous?

  Delays on ordinary bank loans are fraught with a series of penalties, litigation and proceedings with collectors. However, even in this case, the total amount of all possible penalties and fines cannot be compared with the amount that can “run in” in MFIs. So, even a relatively small debt of a couple of thousand rubles in a few months can turn into a completely “unbearable” amount. At the same time, a series of endless calls and even visits by collectors, along with bailiffs and litigation, cannot be avoided either.

  Of course, you can try to resolve the current situation with a particular credit institution, perhaps it will meet you halfway and agree, for example, to extend the debt repayment period. However, if you have several such loans on hand, you should resort to the refinancing procedure as soon as possible.

  How to refinance a microloan

  

  When a borrower plans to restructure microloans, he must clarify the basic conditions for this procedure. In particular, financial institutions generally put forward the following requirements for the recipient of such a loan:

  • age - from 20 to 70 years;
  • the presence of Russian citizenship;
  • the presence of a residence permit corresponding to the location of the financial institution;
  • permanent place of work;
  • sufficient to repay the current loan level of income.

  Funds allocated for on-lending are not issued to the borrower in cash and are not transferred to his personal bank card. The refinancing company thus insures a new loan against dishonest actions of the client. The tranche itself goes directly to the account of those organizations from which the loan is to be refinanced. The size of the loan in this case is limited to 500,000 rubles, the repayment period is up to 5 years.

  If the refinancing of microcredits requires an amount that exceeds the financial capabilities of the client (for example, it does not correspond to the level of his monthly official income), the credit institution may require you to draw up a guarantee agreement, provide property as collateral or sign a documentary assurance not to issue other loans during the offer period.

  The refinancing service can cover both one and several loans at once. At the same time, you can combine all existing debt obligations, be it bank loans or microloans. However, this rule does not apply to all debt obligations.

  

  The following categories of debt cannot be refinanced:

  • bank credit cards;
  • a loan received from a pawnshop;
  • loan from a private investor.

  In addition, bank consumer loans can be refinanced in MFIs only along with microloans.

  Where to apply for a loan

  The program of refinancing loans of microfinance organizations can be implemented in different ways. We present to your attention the most relevant and most effective of them.

  Contacting the bank

  When there is nothing to repay the loan and a delay occurs, some borrowers turn to banks in order to get a better loan offer in order to close the existing debt in the MFO with these funds. However, in practice, everything may look completely different, and some category of borrowers will have to face a number of unpleasant “surprises”:

  1. The client may not pass the preliminary or full verification. Most often, the services of microfinance organizations are resorted to by those categories of citizens who were previously denied access to banking institutions. In addition, if the results show that the potential client has any delays and non-payments on microloans, it will not be possible to obtain a new loan.
  2. Unfavorable loan terms. Even if you apply to a number of financial institutions that are ready to work with clients from MFIs, the conditions for on-lending may not be so attractive, therefore it will be necessary to weigh all the pros and cons. Although, of course, there are exceptions to the rules, and some institutions can offer very favorable conditions, no matter what.

  

  Thus, banks do not have special programs for restructuring such debt. In order to refinance there, you need to get a new consumer loan at a lower interest rate and for a longer period. An additional advantage will be the opportunity to receive the allocated funds to a personal bank account or in cash (when refinancing loans in an MFI, a new loan goes directly to the account of the primary lending organization).

  Another way to repay an existing loan is a bank credit card, the limit on which exceeds the debt. Banks are willing to issue such cards even to people with a bad credit history. At the same time, its design takes a minimum of time.

  Many financial institutions offer their customers to receive a credit card by mail or courier service after registering and submitting an application on the bank's website. In addition, if you choose a banking program with a grace period for repayment, the issue of debt repayment may be delayed.

  If we talk about the refinancing of microloans in which banks is most likely to be carried out, then, of course, we will talk about large players in the market who are ready to consider different categories of citizens. These usually offer optimal conditions for obtaining consumer loans or credit cards that are used to pay off previous debt to microfinance organizations. Some lenders can meet special refinancing programs, the terms of which it is advisable to apply to pay off debt on microloans. However, before contacting the bank, you should clarify how it "belongs" to a bad credit history.

  Credit card "Tinkoff" for on-lending with a grace period of 120 days

  

  A very relevant and profitable offer entered the market from the Tinkoff online bank. This credit organization allows you to get a card in the amount of up to 300 thousand rubles.

  The advantages of its design:

  1. Favorable interest rate. If you calculate the interest on microloans, then their annual equivalent can reach 500-700%, while on the card you will pay only 20-30% per year and only if you do not have time to return the money before the end of the interest-free period.
  2. Grace period of 120 days. This is an advantage that distinguishes this "credit card" from similar offers on the market. So, you can transfer money from the card to close another loan and not pay interest for 4 whole months.
  3. Possibility of combining several microloans. If the amount approved on the card can close your debts on several loans at once, you will have only one payment on a plastic card, which is undoubtedly very convenient.

  Renaissance Bank is a great way to refinance loans

  Renaissance Credit is a financial institution that is ready to provide funds for any needs of borrowers, the same is true for microcredits. To get approval, it is enough to provide only 2 documents, one of which is a passport, the second can be: a driver's license, SNILS, TIN, even PTS.

  

  In addition, a pension certificate is also suitable if the potential borrower is a pensioner. The chances of approval for this category of citizens in this bank are also very high, since the institution is ready to consider persons up to 70 years old.

  The amount you can count on can reach 700 thousand rubles, and the loan term is 5 years.

  "Touch Bank" is a profitable solution for closing old debts

  Another offer from a major European player in the Russian financial market. This bank does not have offices and branches as such and offers an online issuance of a card that can be used either as a "credit card" or as a consumer loan.

  At the same time, to consider the application, it is enough to indicate only passport data and find out the decision in a couple of minutes. Additional certificates and guarantees are not required.

  In addition, after the loan is repaid, the funds can be reused without waiting for approval. The maximum amount that can be received reaches 1 million rubles.

  

  Contacting the MFI

  This can be either an organization that directly issued an existing loan, or another financial institution that provides such services. If there is a need to refinance microloans (and in this case, restructure) with delays in a microfinance organization, it is first necessary to discuss more benign requirements with its representative.

  The revision of the conditions is welcomed by creditors who are not eager to return debts through the courts. If the borrower provides documented explanations for the delay, he will certainly be met.

  These circumstances include:

  • disability due to bankruptcy, dismissal (reduction) and other reasons through no fault of the recipient of the loan;
  • a decrease in the level of income due to a decrease or delay in wages;
  • getting into an accident or hospital (you must provide a medical report or a certificate from the traffic police).

  In this case, debt restructuring takes place against the security of existing real estate or title. In addition, the MFI may require the involvement of guarantors and the conclusion of an appropriate agreement. At the same time, the interest rate is significantly reduced.

  Contacting an organization working under the program for refinancing microloans with delinquency

  

  Many financial institutions that issue microloans claim that it will not be difficult to refinance their debt obligations from them. In fact, this is not always the case. Refinancing of microloans with delays is one of the most complex and risky procedures, which almost no one undertakes.

  However, even for such "neglected" cases, there is a solution. It is offered by LLC MCC "Agency for the Refinancing of Microloans", which has been operating in this service market since 2015. The company's website is www.refinance.rf.

  The principles of operation of this financial institution in the field of on-lending are similar to those of other MFIs:

  • all available loans from previous financial sources are combined into one (up to 500,000 rubles);
  • the interest rate on the new microcredit is significantly lower;
  • maturity - up to 5 years;
  • the transfer of funds to the accounts of other organizations in which previous loans were received is undertaken by this MFI.

  You can contact the agency remotely by leaving the appropriate application on the website of the organization. Documents can also be processed through an intermediary online or by phone. However, the contract is signed by the borrower personally and manually.

  Steps to get a new loan to replace the old one

  The procedure for refinancing a microloan consists of several stages:

  

  1. Fill out an application with contact details on the site.
  2. Receive an e-mail with a questionnaire, which, after filling out, is sent to the specified e-mail address.
  3. Making a decision on the application (takes one day).
  4. If the answer is positive, the loan recipient must send scanned documents on existing loans to the specified email address.
  5. Final agreement on the terms of the restructuring and signing of the contract at the nearest office of the organization or with the help of a courier delivery service.
  6. Repayment by the company of existing debts of the client by wire transfer to the specified settlement accounts.
  7. Repayment of the microcredit by the client according to the new repayment conditions.

  The interest rate depends on the amount of the loan issued and can range from 0.2% to 0.7% per day. When lending in excess of 300,000 rubles, it may be necessary to involve two individuals as guarantors or to issue a pledge.

  The borrower can make payments remotely: using online wallets, transfers from a personal bank card or depositing funds to the bank details of the organization specified in the agreement. Debt repayment occurs monthly, early payment is welcome.

  When the question arises: “how to refinance a microloan if it is not possible to repay it on time”, you must first contact the lender. Microfinance organizations are willing to meet halfway and offer special conditions for borrowers who find themselves in a difficult situation. Refinancing a loan can also be done in banks by obtaining a special loan or credit card and thus postponing the final date of repayment of the debt. The main thing is not to panic and carefully evaluate the proposed conditions in order to choose the most profitable ones for yourself.

  For many residents of Russia, it has already become customary in difficult situations with money to seek help from microfinance structures, of which there are already more than 5,000 thousand in the country.

  But sometimes a huge interest rate, which is charged on a loan every 24 hours, and a short period of time allotted for its repayment, involve a person in an unbearable debt hole. The way out in this case can be a new loan at a bank at a lower interest rate.

  Such a loan will allow you to pay off debts in MFIs, as well as significantly reduce the loan burden. We are talking about refinancing loans taken from microcredit organizations. Is it possible to refinance a loan for which there are delays and what is needed for this we will tell further.

  What will happen if you do not pay the loan to the MFI?

  
  

  Many borrowers who have fallen into credit dependence on MFIs are interested in the question: What happens if you stop paying loan installments?

  Financial experts advise citizens to avoid such situations, as this will lead to delays, additional interest on the loan, as well as penalties. All this can end up in court and even confiscation of the defaulter's property. Therefore, in circumstances where a person has nothing to pay with, and a fine accumulates every day, it is better to immediately start looking for an organization that is ready to refinance the loan on more acceptable terms for the borrower. (Read about what will happen if you don’t pay for the loan at all)

  Is it possible to refinance microloans? Where to apply?

  
  

  The best option to refinance a loan taken from an MFI is to apply to a large banking organization.

  • Firstly, such structures offer the most favorable conditions for loans.
  • Secondly, most refinancing programs allow you to combine several loans into one at once, which is very convenient for the user.
  • Thirdly, very often the loan repayment term is extended to a large extent to the client.

  However, not all banks refinance loans issued by MFIs, which cannot be said about refinancing loans taken from conventional financial companies.

  It is especially difficult to reissue a loan on which the borrower has already experienced delays. But, fortunately, there are still large banks that meet the needs of the client.

  Today, microloan MFI refinancing is available in the following reputable financial institutions:

  Bank Tinkoff offers to issue a credit card for any need, including repayment of a microloan, the interest rate on a credit card is 20% -30% as opposed to 700% from MFIs, the interest-free period for plastic is 4 months, the maximum available limit is 300 thousand rubles.

  VTB 24- offers refinancing in the amount of up to 1 million rubles, at an annual percentage of 17% to 30%. The maximum credit period is 60 months.

  "Renaissance Credit"- provides an opportunity to issue a consumer loan for any purpose of the user, the amount of funds is from 30 thousand to 700,000 rubles, at a rate of 11.9% per year, for a period of 1-5 years.

  OTP Bank offers a program for refinancing microcredits from MFIs on the following terms: the maximum loan amount is 750,000 rubles, the interest per year is from 19%, the loan period is up to 60 months.

  Ural Bank for Reconstruction and Development allows you to get a loan without collateral in the amount of up to 300,000 rubles, and up to 1,000,000 rubles, at an annual rate of up to 30%.

  Large Russian banks are ready to refinance MFI loans by combining several loans into one (the number of allowable combinations depends on the maximum amount that the bank offers to refinance other loans). If we are talking about refinancing debt with delays, then the probability of refusal increases. But, if the bank agrees to refinance the troubled debts of the MFI, then the loan can only be issued with collateral (necessarily collateral or the involvement of guarantors).

  Terms Rusmicrofinance

  
  

  Another organization that provides on-lending to MFO debts is the microfinance organization Rusmicrofinance. Refinancing of loans in Rusmicrofinance is carried out on the following terms:

  • loan amount - from 30,000 to 170,000;
  • refinancing period - 1 - 5 years;
  • interest rate - 0.196% per day.

  At the same time, the company does not require collateral and guarantors from the client.