Is there a difference between a loan and a credit? What is a loan

In the minds of many people, the words loan, loan, credit mean the same action - lending a certain amount of money, on a repayable and reimbursable basis. That is, when repaying a debt, the borrower is obliged to return a larger amount of money than he borrowed, having paid a certain amount of percent. But in fact, these three concepts have different meanings.

What is a loan?

A feature that characterizes a loan as a type of legal relationship is that the borrower receives ownership of the loan subject for the entire period of use, that is, he has the right to dispose of the borrowed money or assets as he wishes. In this regard, if the loan item is lost or damaged, the borrower, in accordance with the loan agreement, undertakes to return to the lender things of the same quality and purpose in the appropriate quantity. This means that the things lent should be fungible, they should not be unique, one of a kind, inimitable, exclusive and so on. Such things include: food, consumer goods, gasoline, building materials, and others. Unique jewelry, collections of cognacs, original works of art, in turn, cannot be the subject of a loan, since in case of loss they cannot be compensated.

What is a loan?

What is a loan?

What is the difference between a loan or a loan and a loan?

Do you urgently need money for any personal needs? You have two options - take out a loan or take out a loan. Do you think that these two concepts have no significant differences from each other and mean the same thing? We don't blame you, as this is a fairly common misconception.

In fact, there is a huge difference between them, which you simply need to know in order to, when receiving funds, enter into an agreement in accordance with current legislation and protect yourself from the most unpleasant consequences.

What is a loan and credit: explaining the concepts

To make sure that a loan is really different from a loan, just read the definitions of each of these concepts:

• a loan is an obligation fixed in a written agreement, which indicates the purpose for which the money is issued, the amount of funds and the amount of remuneration (it is an integral attribute of lending) and the timing of debt repayment;
• a loan involves the transfer not only of money, but also of a wide variety of valuable property, does not always require the transaction to be formalized in writing (only in cases where the amount of transferred funds exceeds the minimum wage by 10 or more times) and does not provide for mandatory remuneration for the lender.

In addition, a loan can be taken not only from a legal entity, but also from an individual (for example, from that neighbor from whom you constantly borrow money before payday), but a loan can only be taken from a banking institution. However, we will look at all the differences in more detail below.

Five main differences between a loan and a loan

So what is the difference between a loan and a credit? We are ready to give five key differences between these forms of financial relationships. Some of them have already been mentioned above, but in this case repetition will only allow us to understand the topic in more detail:

• debt repayment. There are a number of features due to which a consumer or other loan from a bank differs quite significantly from a loan. In the vast majority of cases, it must be repaid in installments according to the classic (accrual of interest on the balance of the debt) or according to the annuity scheme (equal shares). The loan is usually repaid in full. Especially if the lender is an individual who is unlikely to be satisfied with returning the money in parts;
• decor. When receiving a loan under any circumstances, a written agreement is concluded with the bank. If you take out a loan, signing an agreement is not mandatory. However, it is better to conclude it, since in this case you will have a much greater chance of proving your case in court if it comes to it;
• participants in the transaction. Loans can be issued exclusively by banking institutions. Other legal entities, as well as individuals, can only act as lenders, borrowers and recipients of loan funds;
• interest. Lending is closely related to the refinancing rate, which is why the remuneration banking institutions always exceeds it. In most cases, the loan is issued without any interest. But even if they are provided for in the contract, the amount of remuneration is determined by the lender himself;
• subject of the transaction. As part of any lending programs, only money is issued. It can be argued that banks often offer to buy a wide variety of goods in stores on credit. Yes, this is true, but during such a transaction the funds are transferred to the account of the retail outlet and you will also have to return the money, not the purchased products. The subject of the loan can be either a certain amount of funds or property. Moreover, you need to return exactly what you took when concluding the transaction.

Let's move a little away from financial topics and ask next question: “How to correctly speak and write words that are in demand today, such as loan and borrowing? First, we will give the correct answer in accordance with the norms of the Russian language, and then we will discuss this topic - it will be interesting!

Loan or borrowing – which is correct?

According to various modern dictionaries, explanatory articles and, finally, in accordance with the great and mighty Yandex, the question “loan and borrowing - which is correct?” the following answer is given.

To speak correctly in Russian you need the word “LOAN”, and the word “LOAN” is completely absent, at least in dictionaries. But this only applies to the use of the word in singular, as well as in the nominative and accusative cases (Case question: Who? What?). In plural and in all other cases it is necessary to use words with the root loan: loans, loans, loans, etc.

Moreover, it is curious that some authors write in their articles that the word “loan” does not exist, it does not exist in the Russian language. But excuse me, what about you, me and thousands of people who are not at all embarrassed by the presence similar word not only verbally, but also in writing. For example, the author of this note did not find a single microfinance company where the word loan is used according to the rules of the Russian language. Judge for yourself: the company (quite well-known, by the way) characterizes its activities with this slogan: “Quick Loan | First loan up to RUB 10,000. for free!"

And here’s another example for you - the newest word microloan. Or is it still a microloan? Something like this is not visible in the dictionaries; it probably didn’t have time to get there - the microfinance industry is developing very rapidly. Here, perhaps, the above rule should be applied.

Accordingly, in the singular and with case questions “Who? What?" we say correctly: “MICROLOAN”, and in all other cases we use the root microloan: microloans, microloans, etc.

We find confirmation of this in various official legislative documents, for example in federal law"ABOUT consumer credit(loan)” or in the Federal Law “On microfinance activities and microfinance organizations”. After all, the servants of the people write correctly and we should, in theory, emulate them.

Why is the word loan and other incorrect variants used so often?

Why do various microfinance companies not follow the rules of the Russian language and mislead us? It's simple - it's business. This is exactly the case when you need to speak to the population in their language, and not in the correct way. Do you think people who want to borrow money will be interested in how to spell the word loan or how to get it correctly and competently? Probably the second one.

And this applies to business in the following way. If a person is looking for a loan in a search engine, then this is exactly what should be offered. This is how search technologies work. If a microcredit organization creates a great website and offers a great product and calls it a “loan,” then I’m afraid it will lose a lot of customers. Compare for yourself: 927,735 impressions per month in Yandex for the request for the word “loan” and nothing for the correct request “loan”. True, if we write the letter “E” instead of “E” in this word, we will already get 957,459 impressions.

It turns out that the most correct word form “LOAN” is not used by the people at all, and incorrect spellings divide among themselves all requests (almost a million impressions per month), for which companies optimize their sites.

So let's not be too picky and give our people the opportunity to speak as they want, as long as it is not harmful, but for the good!

Good afternoon, dear reader of my site,

Not this way We've been studying for a long time. And today there will be an article about a common mistake when using the words “loan” in speech.

There are a huge number of offers for lending to the population on the market. And quite often they offer to take out an “interest-free loan”, or a “loan with a low interest rate”.

So, the word “loan” does not exist, it does not exist in the Russian language.

Let's look at the confirmation of these words in dictionaries:

1.Dictionary of Russian accents. Reznichenko I.L. - M.: “AST-PRESS”, 2008. – 943 p.

2. Rosenthal D.E., Telenkova M.A.

Dictionary of difficulties of the Russian language.- 3rd ed. – M.: Iris-press, 2003. – 832 p.

3.Orthoepic dictionary of the Russian language. Pronunciation, stress, grammatical formsEdited by R. I. Avanesov

So, we see that in the nominative and accusative cases can and should be said"behind eat".

Example: I took out a loan from a bank for 3 years.

In all other cases, namely in other cases and in the plural, we say loans, loans, etc.

I made a table of cases to help you:

Credit V Gorode.RU- 24/7 financial aid in obtaining short-term loans, credits, mortgages!

It is convenient to resort to a loan from an individual if the bank refused to issue a loan, for example, due to a bad credit history, existing debts or lack of official employment. Private investors, as a rule, are less demanding of potential borrowers, and it is much easier to get money from them.

Another feature of a private loan is the interest rate scheme. With bank lending, they are accrued on the balance of the debt, with private lending - for the entire amount at once. Therefore, a bank loan is cheaper. Let's explain with an example: when taking out a loan in the amount of 100 thousand rubles for 1 year at 25% per annum from the bank, the overpayment amount will be 14 thousand rubles, and the payment will be 9.5 thousand rubles per month. For a private investor, the overpayment amounted to 25 thousand rubles, and the payment amount was 10,416 rubles per month.

Pros and cons of lending to individuals.

Quick loan processing, literally within a couple of hours, while verification of the borrower by the bank may take several weeks;

There is no need to provide a certificate of income and employment - only a passport is enough for registration; a private investor can approve a loan to the client even if there are arrears, and even with a criminal record;

Availability of negotiations - if the lending conditions in a bank or microfinance organization are quite strict, and sanctions are threatened for violating the payment schedule, then it is much easier to negotiate with a private lender: ask to reduce the interest rate, provide a deferment, change the payment schedule, etc.;

Assistance in completing all documentation - this is not the first time a private investor has practiced issuing money, so he knows how to draw up a receipt or agreement, how to certify an agreement with a notary, what is needed to register a pledge, etc., in addition, he usually takes on bear all associated costs.

However, there are disadvantages of private lending for the borrower:

A fairly high interest rate, which is set arbitrarily by the lender, and it may be significantly higher than in microfinance organizations or banks;

Short loan terms - from several months to a couple of years;

Lack of insurance, i.e. in case of loss of ability to work or dismissal of their financial difficulties you will have to decide for yourself;

The issuance of a large sum of money is processed only upon provision of collateral - an apartment or a car.

In addition, when borrowing funds, a private investor has a chance to encounter a fraudster or simply an unscrupulous person who can easily drive the borrower into credit bondage.

Thus, choosing which is better - loan from an MFO or from a private investor– you should weigh the pros and cons, compare the risks and potential benefits. Private lending is an area largely based on negotiations, so it is impossible to predict in advance what agreements will be reached.

Where to find a private lender?

A newspaper or an online bulletin board. This method is optimal for borrowers who want to borrow small amounts for private needs. Typically, both the lender and the borrower live in the same locality.

Thematic forums on the Internet, for example, MMGP. This way you can take out a loan online without even meeting with the lender. However, such transactions are quite risky (especially for investors), so you either have to prove your solvency or agree to high interest rates and small amounts.

Services of intermediaries - credit brokers. If you need a fairly large loan or money is needed for business, then it is better to turn to specialists. They will find a suitable investor, agree on the key terms of the contract with him and organize a meeting. This will help reduce the likelihood of encountering scammers, but the work of intermediaries will have to be paid, regardless of the result.

With the help of an association of investors. In almost every big city there is an association of private investors that jointly solves pressing problems (analogous to SROs for lawyers or builders).

The most difficult thing when searching for a private lender is finding a reliable and conscientious investor. Therefore, it is worth paying attention not only to the proposed conditions, but also to the reputation of the second party to the transaction. It is worth studying the offers of several lenders, as well as looking for reviews from people who have worked with them.

How to draw up an agreement or receipt correctly?

The structure of the loan agreement must meet the requirements of the Civil Code and contain the following points:

1) time and place of drawing up the agreement;
2) passport details and addresses of the lender and borrower;
3) the amount of borrowed funds, the interest rate and the procedure for repaying the loan;
4) liability of the parties for failure to fulfill the terms of the agreement, including late fees;
5) ways to resolve possible conflicts;
6) date and signatures.

The form of the receipt is extremely simple: the borrower indicates that he is borrowing a certain amount from the lender and undertakes to return it with interest on a specific day. In addition, funds can be returned in installments according to an agreed schedule.

A receipt or agreement can be certified by a notary - then the parties will have no reason to challenge the provisions of the agreement. However, notary services require payment, so it is much easier to attract witnesses to certify the document. These must be uninterested persons - that is, relatives and partners of the parties are automatically excluded from the list. Perfect option- friends or neighbors.

It is necessary to clarify that witnesses do not bear any legal responsibility for the contract, they only confirm that the contract was concluded voluntarily and both parties agreed on all issues.

If we're talking about about a serious amount, then the parties can enter into a pledge agreement. To complete it, you will need not only the passports of both parties to the transaction, but also:

1) documents for the mortgaged property;
2) assessment of the value of the property, if the parties cannot agree on the collateral price.

If real estate serves as collateral, then the collateral agreement is registered with the Registration Chamber, since the premises acquire an encumbrance.

How to get money and repay debt correctly!

When receiving funds in cash, it is better for the borrower to issue a receipt - it will serve as evidence of the transfer of money. When making a bank transfer or sending to a card, account statements will serve as confirmation of the transfer. When transferring via EPS, you need to print out a receipt - each system has its own form.

When repaying a debt, even partially, it is necessary to take a receipt from the creditor for receipt of funds. It remains with the borrower and serves as a guarantee that the other party will not make any further demands.

After full payment of the debt, it is also necessary to obtain a receipt from the lender that the funds have been paid in full and that he no longer has any claims against the borrower.

It is also necessary to save all financial statements: payment orders, receipts, checks and other evidence of debt repayment. If the case suddenly comes to court, then the receipt along with these documents will serve as reliable protection for the borrower.

How to avoid falling for scammers?

Requiring advance payment for notary services or translation compensation. All these expenses must fall on the shoulders of the lender, and he already receives remuneration through interest.

Please provide complete passport data before receiving money in the form of scans, supposedly to check your credit history. For this, scans are not needed; it is enough to verbally name the information of interest.

Requirement to list card details, including code with reverse side. This information is not needed to transfer money, but to cash out a card it is more than enough.

An offer to transfer money without drawing up an agreement. It is quite possible that the creditor will then want to make a profit higher than the agreed upon one, and will act by not entirely legal means of influence.

The main thing you need to pay attention to is the reputation of the private investor. It is better to take money from a trusted lender at a slightly higher interest rate, but then the borrower will be safe and will not lose money by paying off debts.