Currently, there are no special credit programs for veterans of military operations in Sberbank. This category of customers can take a loan on general terms or take advantage of credit offers for military personnel. The latter is possible if the veteran continues to serve in the ranks of the Armed Forces of the Russian Federation and is a participant in the NIS program. If a veteran currently has the status of a military pensioner, but works for a “citizen” and receives a salary / pension on a Sberbank card, he is granted loans on preferential terms as a salary client.
More about credits
All loans for veterans can be divided into two large groups: consumer and target. The first includes loans for any needs: repair, rest, treatment, payment of an expensive purchase. The bank provides cash without subsequent reporting on how they were spent. The second group of loans includes loans for targeted use. First of all, they include mortgage and VA home loan rates. When making a loan, the client has the right to spend money only for strictly defined purposes: the purchase of housing or a vehicle.
Which loans are suitable for veterans?
In 2018, Sberbank offers all categories of borrowers a new financial product called “Loan for any purpose.” This program can be used by veterans. As is clear from the title, the loan is non-earmarked and may be expended at the discretion of the borrower.
For veterans – participants of the accumulative-mortgage system (NIS) in Sberbank there is a program “Credit to the military “. The loan is available to veterans in the event that they have already received a loan under the program “Military Mortgage” or applied for its registration. Often, borrowers use the “Credit to military personnel” to pay a surcharge to the existing mortgage. However, a loan is not an option, so you can spend it on anything.
“The VA home loan rates for the maintenance of subsidiary plots” is provided to individuals who are engaged in breeding poultry, livestock and growing crops. This loan product may be of interest to veterans if they conduct such activities and need funds for improvement and expansion of subsidiary farming. The loan is available both with and without collateral.
The program “Refinancing loans ” will be beneficial for those who already pay one or more loans in a third-party bank and would like to refinance on more favorable terms. To such clients, Sberbank proposes to combine up to five loans into one at a fixed VA home loan rates of 13.5% per annum. Refinancing reduces the financial burden on the client and frees up additional cash as a result of a reduction in the monthly payment. The program of refinancing can be used by all clients of the Savings Bank, including veterans.
Separately, it should be said about the target credit program of Sberbank under the name “Military Mortgage “. The program is provided with state support, so its conditions are significantly different from other types of mortgage lending. A military mortgage allows you to purchase any real estate in the primary and secondary market: an apartment, a house, a cottage, a townhouse. The size of the initial contribution must be at least 20%. Repayment of the mortgage is carried out by the Ministry of Defense within the established limit. Over the limit, a soldier pays the amount himself.