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sis
21-04-2013, 13:14
Does anybody have any idea how I could go about getting a loan from a Russian bank as a foreigner?

Alfa Bank,Citibank, Raifeisen Bank dont give loans to anybody except Russian citizens, didn't even bother asking sberbank...

Benedikt
21-04-2013, 17:13
Does anybody have any idea how I could go about getting a loan from a Russian bank as a foreigner?

Alfa Bank,Citibank, Raifeisen Bank dont give loans to anybody except Russian citizens, didn't even bother asking sberbank...



Only thing you MIGHT get is a loan for buying a car, but you must be in excellent standing with your bank and it will be more like an extended overdraft. and of course no cash on your hands, just bank transfer and they keep the car documents and you get a -dovernost- to drive your car. so -you- can't sell the car and elope with the cash....

Alan65
21-04-2013, 19:23
Only thing you MIGHT get is a loan for buying a car, but you must be in excellent standing with your bank and it will be more like an extended overdraft. and of course no cash on your hands, just bank transfer and they keep the car documents and you get a -dovernost- to drive your car. so -you- can't sell the car and elope with the cash....

Surely the main reason is nothing to do with being a foreigner and more to do with having a credit history with a bank, that is how banks work.

I am sure that many Russians who get paid in cash/part cash would also struggle to get a loan, hence the high interest rates.

15 years ago I went through a similar instance in the UK despite being British, I wanted to buy a flat, had more than enough for the deposit, never borrowed money etc but I had lived in Hong Kong for the previous 7 years....hence no credit history = no mortage, I had to get 2 years of audited accounts.

sis
21-04-2013, 22:12
Surely the main reason is nothing to do with being a foreigner and more to do with having a credit history with a bank, that is how banks work..
You would think so wouldn't you, but for some reason thats not how it works in russia.

THe first criteria in all the banks that i have looked at is That you are a russian citizen

Nobbynumbnuts
22-04-2013, 00:52
You would think so wouldn't you, but for some reason thats not how it works in russia......

Not the way it works in Asia either. Most foreigners have no credit history and any assets are usually held outside the country. Also, it's too easy to abscond if you're a foreigner and the market for loans is small anyway.

Dino
22-04-2013, 23:35
Unless the rules have recently changed.....I received a loan to purchase a flat here in Moscow from Raifeissen Bank......this was about 8 years ago though. You may need to check again.

Nobbynumbnuts
22-04-2013, 23:50
Unless the rules have recently changed.....I received a loan to purchase a flat here in Moscow from Raifeissen Bank......this was about 8 years ago though. You may need to check again.

I think is known as the exception, not the rule.

Benedikt
23-04-2013, 05:53
Unless the rules have recently changed.....I received a loan to purchase a flat here in Moscow from Raifeissen Bank......this was about 8 years ago though. You may need to check again.



would you care to share how you got it? did you just walk in told the credit manager you want to buy and apartment and got the credit?
no securities, nothing? not anyone of close relatives/wife/girlfriend working for raiffeisen?
or the credit manager was (and still is?) father in law/friend/ drinking /fishing buddy?

Dino
23-04-2013, 09:16
would you care to share how you got it? did you just walk in told the credit manager you want to buy and apartment and got the credit?
no securities, nothing? not anyone of close relatives/wife/girlfriend working for raiffeisen?
or the credit manager was (and still is?) father in law/friend/ drinking /fishing buddy?

I hear the sarcasm here on this thread.....but really, I walked in to the bank on Leninsky Prospect and completed the application form. I already had 50% deposit for the flat myself.....and received the loan within 8 days.

inorcist
23-04-2013, 13:39
To my knowledge you need to have permanent residency in order to take a mortgage in Russia. This seems to be required by Central Bank law.

Smaller loans are at the bank's discretion.

Benedikt
23-04-2013, 14:04
I hear the sarcasm here on this thread.....but really, I walked in to the bank on Leninsky Prospect and completed the application form. I already had 50% deposit for the flat myself.....and received the loan within 8 days.

just a question/ questions asked.
and since you had already 50% of the sum, maybe they did not consider it as a -credit- or whatever.