Consumer credit is the money that the Bank provides directly to people in order to purchase goods for personal use, services with high cost (treatment, tourist voucher), the implementation of expensive works http://usapaydayloans.info/massachusetts/franklin-town/ (repair of apartments, designing a country house). A Bank loan can be taken both for the purchase of durable goods (apartment, car), and for smaller purchases – for example, mobile phones. Cash at interest, what are their types? A person who applies to a banking institution for the purpose of obtaining a consumer loan is called a borrower. Consumer loans can be: target (for example, «education»), and non-target (the borrower has the right to dispose of the money at its discretion). As a rule, the amount of credit consumption depends on the level of monthly income of a citizen and ranges from $ 100 to $ 15,000 for a period of six months to 5 years. The loan for consumer needs is characterized by a fairly high interest rate (service fee). The interest rate is a fee for the use of the money provided under the terms of the loan agreement, which the borrower must pay to the Bank on a monthly basis.There is quite a tough competition between banking organizations, so it will not be difficult for the consumer to choose the most attractive terms of lending, especially given the fact that the loan is often accompanied by «hidden» interest (the Commission for the preparation of the contract, the monthly fee for support).