Myths and fears of people when it comes to loans

Can a bank hide information about the present interest rate on a loan agreement? Or do not inform the debt loan? If you are retired, then no one bank does not want to make a loan? Let’s try to understand these issues.

Myth 1. Representatives of the Bank intentionally do not tell full information about the loan, which is issued to the Client

According to the legislation, the banking organization is obliged to tell full information and discuss all points


Myth 2. The banking institution can change the interest rate under the loan agreement

The bank has no right to unilaterally change the rate on

But there is one important point.

The level of interest rate under the lending contract can be established by two methods: in absolute terms (number) or as a calculated value, which is tied to the main (basic) indicator. Accordingly the rate can be like


Each borrower, if desired, can at any time come to the office of the bank or make a call to the hotline to clarify the amount of debt in its contract.

As a rule, a banking firm at least once a month provides such information.

Myth 4. The Bank will not give the right to postpone loan payments

To date, there is a special service

Myth 5. Pensioners do not issue money on loan conditions

It is certainly wrong. For pensioners, banks have provided special lending suggestions. Other credit and financial institutions are also actively cooperating with them.