The question of the maximum credit limit, which can be obtained at the bank, comes second to consumers after calculating the total overpayment. The loan calculator helps to determine the size of the payment, and the consumer can determine the maximum amount by himself. For this you need to know the principles of the banking algorithm.
The main parameters affecting the loan amount
When accounting for the maximum amount that a lender can issue, two main elements are used – income and expenses. To assess the creditworthiness of the bank, it takes into account only official cash receipts, which can be confirmed by any document, for example, a certificate of income on a bank form or on 2-NDFL form, a salary card, debit or current account statement.
Revenues accounted for by the lender:
- profit of an individual entrepreneur;
- interest on the balance of deposits;
- rent, if the borrower – the owner of the property.
Social benefits for unemployment and child care are not accepted in the calculations.
To account for expenses, banks use information from credit bureaus and loan applications. At the end of the banking questionnaire there is always a block with data on the current obligations of the consumer.
Consider several ways to determine the maximum loan amount.
Option 1 – the cost of living per person
Some banks independently determine what the minimum amount per month should remain with the borrower to stay after deducting all expenses. For Moscow, this figure is 10,000–15,000 rubles, for regions – 5,000–7,000 rubles. For example, a Moscow resident has a family of two people. Their total income is 40,000, then the payment per month should not exceed 20,000 rubles. (40,000 – 10,000 x 2).
To calculate the loan limit, multiply the payment by the number of months. So we know the amount of the loan body + interest. For example, the cost of the annual rate and payment of insurance is 20% per year. The term of the contract is 12 months. The maximum loan amount: 20,000 x 12 – 20% = 192,000 rubles. This method is used in rare cases.
Option 2 – the percentage of expenditure and income
The most famous and widely used method is the allocation of a share of income that can be spent on monthly payments. The value of the indicator in each bank is different, but the principle is the same.
The average spending limit is set at 40-45% of the family budget. That is, with an income of 40,000 rubles. Monthly payment should be in the range of 16 000-18 000 rub. (40,000 x 40%). For this approach, it does not matter how much the borrower earns, even if his income exceeds 100,000, the allowable share of costs will not exceed 45%.
Banks divide this method of calculation into two types:
- 45% – the amount of payments on all credit obligations, including already existing ones;
- 45% – payment under the contract that the client is only going to make.
For example, a customer has a commodity credit, for which he pays 9,000 rubles. per month. Monthly income of the consumer is 31,000 rubles. Calculate the maximum payment for a new loan: 31,000 x 45% – 9000 = 4950 rubles. Multiplying the payment by the estimated time, we get the future amount of the loan, taking into account the overpayment. Perhaps a loan for 24 months and the amount – 118,800 rubles.
The second approach is a better offer: 31,000 x 45% = 13,950 rubles. per month.
Important! Banks equate credit cards to already existing obligations, even if the client did not use the limit or overdraft. Creditors assume that the client can use funds from the card account at any time and increase the amount of the debt. The expenses take into account the minimum payment of 5-10% of the credit card limit.
The maximum loan amount is specified in the terms of the loan product, and the minimum should provide a balance of income not less than the subsistence minimum for the region after deducting the monthly payment.
Factors with indirect influence on the limit
Each credit and financial organization has an internal regulation, according to which one or other data of the applicant is taken into account. In addition to the basic income and loan payments, there are several other parameters that affect the maximum limit.
Some banks deduct from the family budget:
- utility payments in the amount corresponding to the area of the property;
- the amount of daily expenses;
- fuel and vehicle maintenance;
- payment of rental housing;
- expenses for children and other dependents;
Many financial institutions take into account additional parameters that may affect the increase in credit limit. The positive components of creditworthiness include:
- availability of collateral;
- insurance against job loss;
- attraction of guarantors;
- participation of co-borrowers;
- positive credit history;
- increase the term of the contract.
If the borrower can provide collateral – a vehicle or real estate, the lender is ready to increase the size of the loan by 20-25% of the previously stated amount. The guarantee is equal to security of individuals, which guarantees the bank the return of borrowed funds.
When a client attracts co-borrowers, usually when making a mortgage or a consumer loan for a large amount, the financial institution takes both applicants into account. The limit in this case may increase by 20-30%.
Voluntary life and health insurance, as well as the risk of losing your job, is a common method of reducing the rate and increasing the limit. If the client needs to receive the maximum possible amount, one should go towards the bank by agreeing to additional services.
Another way to increase the limit is to ask a loan officer to issue a contract for a longer period. Due to this, the monthly payment will decrease, and payments will be made possible by the borrower.
Banks hide the exact algorithm for calculating the individual loan amount. This information is hidden in order to prevent fraudulent actions by unscrupulous consumers. Approximate credit limit can be found by the ratio of income and expenses or by using a loan calculator, which takes into account these parameters.