Partial loan repayment crossword puzzle 5 letters. What are the types of loan payments? How is the minimum payment paid?
When concluding a loan agreement, you always receive a payment schedule that must be followed. Violating it will result in the bank applying penalties to you, which are also specified in loan agreement. The borrower undertakes to make the monthly loan payment on time and in full.
Only when concluding a loan agreement, the manager is in no hurry to talk in detail about the payment scheme, hoping that the borrower will figure everything out. And if the manager talks about the payment procedure, the borrower does not really listen to him, wanting to quickly finish the process of signing the papers and get his money.
All this leads to the fact that the borrower may unintentionally violate the payment schedule; as a result, the bank will impose a fine on him and may enter the fact of late payment into the credit history. So we’ll figure out how to make monthly loan payments correctly.
Studying the payment schedule
It must be attached to the loan agreement. You will receive basic information on payments from this document, so take care of its safety until the loan debt is completely closed.
The payment schedule is a table that reflects all aspects of loan repayment. Initially, this graph may seem like a bunch of numbers, but if you study it more closely, you can get comprehensive information about your loan repayment.
The graph consists of columns and rows. The lines are each month of the life of the loan. For how many months you took out the loan, the term will be in the schedule.
The graph contains the following columns:
1. Serial number of the month of loan life.
2. Monthly payment amount. As a standard, banks use an annuity payment scheme, so the monthly payment amount is always the same.
3. Breakdown of the monthly payment: how much is spent on interest and how much is spent on repaying the principal debt.
4. Residual debt on the loan or amount for early repayment.
Date of write-off: the main mistake of borrowers
The payment schedule indicates the date of debiting the funds. On this date, the money should already be in the credit account. At the end of the day, the system automatically debits funds from the account in the amount specified in the monthly payment schedule. If the required amount is not found, the bank imposes a fine. Even if one penny is not enough to write off, the system will not be able to pay the loan, and the monthly payment will be considered overdue.
Borrowers often make the mistake of thinking that the date indicates the day the payment is due. They wait until the last minute, pay the loan on the date of write-off, and then are surprised by the bank’s claims and imposed fines. On the date of debiting, the money should already be in the account. Keep in mind that the payment is not executed immediately; the timing of the transfer depends on the loan repayment method you used.
Payment methods and terms for crediting
Usually, when signing a loan agreement, the borrower is told what methods he can repay debts; often a paper describing the methods is included in the package of documents. You can use any, but take into account the time when funds are credited.
1. Cash desk of the creditor bank or its ATM. This is the only option in which money is transferred to the account on the day the payment is made. Only when paying for a loan using this method can you deposit money on the debit date.
2. Cash desk third party bank or its Internet bank. In this case, an interbank transfer will be made, which is carried out within three days.
3. Mail. Although the post office has now accelerated the time frame for transferring funds, banks still recommend making payments 7 days before the debit date.
4. Salons Svyaznoy, Euroset, MTS. Money is transferred within three days.
5. Qiwi terminals, Eleksnet. Payment transfer will also take up to three days.
Payment fees
Without charging commissions, the payment will be taken from you only by the bank that issued the loan; in other cases, a commission is provided for the intermediary who accepts and makes the payment.
Most often, the commission amount is set at 1% of the loan amount, but not less than 50 rubles. But each intermediary sets its own fee, so everything is different everywhere. For example, when paying through Qiwi terminals, each bank sets its own commission amount.
If you deposit more than indicated in the schedule
The schedule specifies the required monthly payment that you are required to make each month to your loan account. You cannot pay less than this amount, but more - no problem.
But keep in mind that the bank will still write off only the amount indicated in the schedule; the rest of the money will simply remain in your credit account. And next time you can deposit less, given that some of the money remains in the credit account.
If you want to contribute more, then fill out a partial early repayment. Each time before making a payment, contact the bank and write a statement indicating how much you want to pay.
Then, on the write-off date, the bank will write off the entire amount, which will entail a change in the payment schedule and a reduction in the overpayment. The bank can calculate the monthly payment downward, leaving the loan term unchanged. Or the payment will remain the same, but the loan term will be shortened due to partial repayment credit debt.
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Minimum payment on a credit card: what is it and how is it calculated?
Borrowers who have issued a credit card for the first time are faced with a new concept for themselves: minimum payment" Not everyone clearly understands what it is and how this value is calculated.
What is the minimum payment?
The minimum payment on a credit card is presented in the form of an amount that in any case must be credited to the card account before the end of the billing period.
The minimum payment amount includes part of the spent credit limit (principal debt) - usually this value is in the range of 5-10%.
For example, UniCredit Bank and Bank24.ru offer clients to pay at least 10%, VTB24 - 5-10% (depending on the type of card), Citibank - 3-5% (minimum 300 rubles), TKS Bank - 6% (minimum 600 rub.). Further, accrued interest, commissions, penalties and fines (if any) are added to this amount.
If at the end of the billing period the funds are not received, the obligations under the agreement on the part of the cardholder are considered unfulfilled, and a fine is imposed on the amount of the debt. More often it is a fixed amount, for example, 700 rubles. (Raiffeisenbank), 300-1800 rub. (Otkritie Bank), 900 rubles, no more than 50% of total amount debt (GE Money Bank). But Sberbank, in case of late payment, will require a penalty of 36-38%.
Deadline for making payment credit card may be different. It depends on the conditions of the bank, but in any case it falls on the same date of each month, and is interconnected with the date the statement was generated and the duration of the grace period for lending. Some banks set the date themselves. For example, payments by " Universal card» Svyaznoy Bank must pass 5, 10 or 15, while some other credit institutions allow customers to set any number.
How to calculate the minimum payment?
When calculating the minimum payment, two parameters must be taken into account:
- percentage ratio of the monthly payment amount to the approved limit;
- minimum payment threshold established by the bank.
When paying off the used credit limit using minimum payments, repayment may be delayed for a long period. Accordingly, the borrower will pay more interest.
If in the tariffs banking services it is indicated that the minimum monthly payment amount is 300 rubles, but only 200 were spent on the card, which means it is necessary to fully cover the debt (200 rubles +%). Naturally, there is no need to overpay extra money to get exactly 300 rubles.
If you need to deposit, for example, 5%, and the amount of debt is 10,000 rubles. - you will have to pay 500 rubles. plus interest for using credit money. The bank charges only for the funds spent - that means 500 rubles in addition to the amount received. you need to add the interest of the billing period accrued on the amount of the spent limit of 10,000 rubles. If annual rate will be at the level of 30%, the amount of interest per month will be 250 rubles. (10,000*0.3/12). Thus, the final amount of the minimum payment in the absence of other commissions and fines will be 750 rubles. (500+250).
Is the minimum payment beneficial?
If you repay your limit using only minimum payments, you will end up overpaying on your credit card. The fact is that most banks charge interest on the remaining amount of debt that goes into a new period. Therefore, it is beneficial not to split the payment into minimal portions, but to try to credit an amount that exceeds the established minimum.
For example, if in the above example you pay not 500 rubles. of the principal debt, but 6,000, then in the next billing period the bank will accrue interest only on the remaining 4,000 rubles, which in cash equivalent will be 100 rubles. (4,000*0.3/12), not 237.5 (9500*0.3/12).Save
User comments:
Boris
Good afternoon Can a bank not take into account the loan body when calculating the minimum payment?
Boris, the minimum required payment on a credit card and its components are determined by each bank independently and are fixed by tariffs.
In most cases, the monthly payment is calculated based on the amount spent credit funds, but sometimes (for example, with OTP-Bank cards) the total amount of the established credit limit on the card is taken into account.
Thus, you need to clarify in what amount and what the payment on your card will consist of in the appropriate tariff plan.
Sergey
I made the minimum payment and immediately withdrew 40% of it in cash. They call from the bank and say that I did it too quickly, they say the system did not see this payment. The bank requires you to deposit more money, otherwise there will be penalties. Does the bank have the right to charge penalties on in this case, because the fact of making the minimum payment is there, is it visible to the bank’s specialists?
Sergey
I understood it. But judging by the fact that after all the withdrawals (interest, etc.) there was a positive balance on the credit card, the bank did not suffer one bit. After all, I withdrew not 100% of the deposited cash, but 40%, knowing that interest would be written off.
For some reason it's a thrill. In such cases, the bank simply pushes the balance into the negative, and when you make the minimum payment, you immediately have an up-to-date picture. Those. if min. contribution is 20,000, let’s say 0 rubles on the card, interest on the card is 5,000 rubles, then at the time of statement the card will have a balance of 5,000 rubles, and when you make the minimum payment, the system will tell you that 15,000 rubles are available to you. Well, that's true, by the way.
The main question was the following. If after making the minimum payment, withdrawing 40% of it in cash and writing off all interest, a positive balance remains on the card (i.e. the bank does not incur losses), how legal is it to charge fines and penalties?
Sergey, as a rule, accrual of interest, fines, penalties and other bank commissions occurs automatically and largely depends on technical settings software. Thus, the tellers, it seems to me, simply provided you with information from the banking database.
If penalties are actually assessed on your credit debt, you will be able to issue a written statement of your disagreement and demand their cancellation. In case of refusal, contact the regulator - Central bank or resolve the issue through court.
Sergey
Faith
Good afternoon. Why do I receive a claim from the bank that my credit card is overdue, if this moment There are funds on the card for debiting. Or I don't understand something.
Credit card for 15 thousand, all the money from it has been spent. You receive a monthly SMS with the amount of the monthly loan payment. In February there was an amount of 450 rubles, I put 550 rubles on my credit card to pay off the debt, but the money was not written off on time and there was also a claim from the bank about the debt.
Vera, most likely there is some kind of technical glitch. In this situation, you should seek clarification from the Customer Assistance Service at the telephone numbers indicated on the back of your card, or directly to a Bank branch.
Vyacheslav
Vyacheslav, all amounts due on a loan or credit card are calculated and generated automatically using the appropriate software. Thus, errors occur extremely rarely, only due to a technical failure.
Vyacheslav
valentine
Hello.
Is the minimum payment deducted from the total debt? But there is no interest on the loan, do I understand correctly?
For example, my credit card debt is 20,000 rubles, minimum. payment is 5% of the amount, and interest is 26 per annum, how much will I have to pay and what amount will be deducted from my debt?
Valentina, the principles for forming a monthly payment on a credit card are determined by the corresponding tariff plan. Unfortunately, you did not indicate which bank card you use, so it is not possible to answer your question correctly.
The percentage of the principal debt included in the mandatory payment can be determined both from the amount actually spent on the card and from the total amount of the established credit limit. But interest will be accrued only on the amount of the used credit limit for the actual number of days.
On our website, to calculate your monthly credit card payment, you can use a special credit card payment calculator, with which you can clearly see when and in what amount you need to top up your credit card.
Vyacheslav
Vyacheslav, to calculate the amount of the monthly minimum payment, you can use a special one on our website. So, if the debt on your card is 16,475 rubles, you will be able to repay the full amount of the debt in 11 months (if you no longer carry out debit transactions, and the repayment will be carried out in amounts of no more than mandatory payments), while each month you will need to first pay a little more than 1,000 rubles, and then the amount will gradually decrease to approximately 600 rubles.
Christina
The balance of the total debt according to the report is 12909.83 RUR. There are no requirements for repayment of the mandatory payment by 03/28/2016.
Please tell me how to understand this) how much should I deposit on the card in the end? Credit card for 15,000 Sberbank
Christina, every month the Bank sends out messages containing information about the amount, date of payment, as well as the total balance of debt on your credit card. In your case, most likely, on the date the report was generated, the obligatory monthly payment had already been made, so there is no need to additionally top up the card during the current payment period.
The total debt balance means the amount of the spent credit limit on the card as of the date the report is generated.
Elena
Good afternoon, can you please tell me if the bank can increase the monthly payment? For 5 months I paid the monthly payment amount indicated in the Internet bank, but for last month the monthly payment amount increased by 40%
Elena, to find out the reason for the increase in the monthly payment amount, you can call the Customer Assistance Service at the phone number indicated on the back of your card, or contact the bank branch directly.
Unfortunately, without information about the name of the credit institution whose client you are, as well as about your tariff plan, it is not possible to prepare a correct answer to your question.
Anna
Hello. Credit OTP card bank in the amount of 158,000. Monthly payment approximately 7500. There was a moment of severe delay, but all fines and penalties were paid off. I recently found out that only 2800 out of the total amount of 7500 is used to pay off the debt. Is this normal? even if the annual rate is 30%. The operators do not answer direct questions, they pour water and do not help to understand. So how to figure it out?
Anna, it is not entirely clear from what sources you found out that this exact amount is used to repay the principal debt. Try using a special service on our website, with which you can analyze how your monthly payment is broken down.
If you do not agree with any transactions on your card, you have the right to submit a corresponding written statement at a Bank branch.
Olga
Good afternoon I used 40,000 from a Sberbank credit card with a limit of 50,000. Then I made a minimum payment of 5% of the debt. Question. Why did the available amount of 10,000 remain unchanged, since the minimum payment should have been deducted from it?
Olga, when you deposit money on a credit card, the balance on it increases by the corresponding amount, and when the payment date arrives, the amount of accrued interest and other bank fees is written off. All other funds become available again for further use.
Guzel
We use a Sberbank credit card. The threshold was 40 thousand. They raised the limit threshold to 50 thousand. Should we deposit up to 50 thousand now to close the card?
Catherine
Hello! Is it legal that the minimum payment amount includes only interest, without taking into account the principal debt? Situation: trust bank credit card, for 100,000. We paid the minimum wage for a year and a half, decided to close the card completely, and when we came to the bank branch to find out the balance of the debt, we were told that it was 108,000, i.e. The debt not only did not decrease, but also increased!
Ekaterina, according to the established tariffs for credit cards, the obligatory monthly payment consists of part of the principal debt (usually in the amount of 5% of the amount of the spent credit limit), as well as the amount of accrued interest and other Bank fees.
To understand this situation, I advise you to generate a report on the card yourself via Internet banking or by contacting a Bank branch, and see for what reason the amount of your existing credit debt is changing incorrectly. If you do not agree with these operations, you can write a statement of claim.
Anastasia
Good afternoon! Please explain what this means - The amount of debt is 5,000 rubles, the minimum payment is 0 rubles, the date of the minimum payment is 06/28/2016, as I understand it, you need to pay 5,000 rubles by June 28? And if I don’t do this, then what will happen?
Anastasia, if your card statement indicates that the debt amounts to one or another amount, this does not mean that it all needs to be repaid before the end of the payment period. Here, the dates on which debit transactions were carried out on the card are important, because this determines which report they will appear in and when the debt will need to be repaid. In this situation, apparently, the amount of the minimum payment required for payment in the current month was made by you earlier, or expense transactions were carried out in the billing period, for which you will need to pay next month.
Thus, today you can fully rely on the available information, and until June 28, do not necessarily contribute funds to repay your credit debt.
Alexei
Hello, please explain, I paid in full for the position by the end of the grace period, I have it on the 10th and need to pay it on the 15th obligatory payment Do I need to pay it if I have no debt to the bank? Russian Standard Bank
hope
hello, please tell me. I use a Sberbank credit card with a limit of 25,000 rubles, I withdrew 13,000 from it, later I put in 6,500, in the end there was 6,500 left for a long time, how much money should I put in next time to completely close the loan, if the rate is 26% per annum and there is a mandatory payment I already closed on July 19, that is, on August 19, I need to deposit 6500 or interest will already accrue and I need to deposit about 7 thousand.
Nadezhda, interest for using credit funds on a Sberbank card is accrued on the report date, that is, the exact amount required for full repayment You will be able to see the existing debt only after the 19th (if this date is the “report date” for your card).
Thus, the most best option for you - either deposit the amount on the card until the credit limit is fully restored, and upon accrual of interest - add the missing amount; or you can actually deposit a little amount on the card with a reserve so that the interest for using credit funds is debited from your own funds.
Our website has a very convenient service that you can use to pre-calculate the monthly payment on your card.
Oksana
Hello. I use the map Sberbank momentum. I paid by bank transfer. And I withdrew 4500 in cash. I want to repay the entire amount in billing period. (In the report only the minimum payment). Calculate the interest on the entire debt or on 4500.
Elena
Good evening! Help me figure it out) I have a credit card from Sberbank for 75,000, at 17%! At the moment, a purchase has already been made with it and now the amount of debt is 26,700, the minimum payment is 1,980. If I spend another 30,000 from it? How will the interest be calculated? ?they will be summed up? the amount of the minimum payment will be? The card issuance date is the 3rd day, i.e. the grace period from it is 55 days!
Elena, you can use your card at any time within the available balance of the credit limit on it. Unfortunately, you did not indicate the dates on which you made or plan to make purchases, so it is not possible to accurately answer your question.
Please note that if the report date for your card is set to the 3rd day, then transactions made, for example, from September 3 to October 3 (inclusive) will fall into one billing period for which you will need to pay (make the required minimum payment or repay the entire amount of debt to use the interest-free lending period) until October 23 (that is, before the expiration of 20 days after the end of the billing period).
To create a payment schedule, where you can see the amount for monthly repayment of debt on your card, you can use a special service.
Svetlana
Hello! I applied for a MIR credit card from RNKB for 50,000. And this is what happened: the limit was exhausted, the 1st payment in the amount coincided with both my calculation and your calculator; but the next payment is 1000 rubles more. When I contacted the operator, I received an answer that until I repaid the full amount, half the price would increase every month! How is this even possible? Then the annual yield is not 30%, but many times more...
Svetlana, if you have a credit card from RNKB with the “Standard” tariff plan, then the interest on it for using credit funds is set at 30% per annum. There is no talk of any progressive interest rate, that is, increasing in size over time. Most likely, either the consultant was not entirely competent, or you did not quite correctly understand the information presented.
Ilya
Question about a Sberbank credit card: 1. Reporting period October 2, made a purchase of 10, using 20,000 rubles. On October 15, we made another purchase for RUB 2,000.3. On October 20, they put 2000 thousand on the card (they paid off the debt of 2 thousand rubles). The amount of debt and the minimum payment will be calculated on the basis of only 20 thousand rubles or 20 thousand rubles + 2 thousand rubles? Will repayment of 2 thousand be considered liquidation of the debt under clause. 2?
Ilya, if the 2nd date is the date of the report on your card, then the current billing period will include all transactions made between October 2 and November 2. Thus, the amount of your debt will include both the purchase for October 10 and October 15.
Please note that when you deposit funds to the card, the debt for any specific transaction is not repaid ( non-cash payment goods and services or cash withdrawal, for example), but the credit limit for the deposited amount is simply restored, that is, it again becomes available for use.
Please note that interest on the use of credit funds will be accrued at the end of the next billing period, that is, a month later. This is done so that you can take full advantage of the interest-free lending period, and in case of failure to comply with its conditions, in the next payment period you will pay interest, which is calculated according to a complex formula, including the exact number of days within which you used this or that amount of borrowed funds.
The amount of the obligatory minimum payment will be 5% of the amount of debt on the date of drawing up the report, and if this amount does not exceed 2,000 rubles that you paid earlier, you will not need to make an additional payment.
Our website will help you understand this topic.
Alexander
Good day, I have a Sberbank credit card for 30,000, withdrew 26,000 from it. I received an SMS for the minimum payment of 880 rubles, I paid 1200 but only 1000 came into my account, this happened once before, on the hot phone of Sberbank they didn’t really explain where the 200 rubles went?
Alexander, as a rule, such situations arise when some commission or interest has already been charged on the card for using credit funds. In this case, the required amount is debited automatically when the card account is topped up, which reduces the amount available for further use.
You can view detailed information in your card statement, for example, by generating it through Sberbank Online or by visiting a Bank branch in person.
Catherine
Good afternoon I would like to get help in calculating the payment amounts. Sberbank credit card, limit 50 thousand, billing period is 01st, the card is empty now. How can I continue to replenish it with minimum payments? and when is interest charged for using the card?
Ekaterina, you can repay what you have on the card credit debt in amounts not less than the minimum mandatory payment, which consists of 5% of the amount of the spent credit limit plus interest and other possible commissions, accrued by the Bank. In this case, interest will be calculated based on the amount set for your card. tariff plan for the amount actually spent as of the date the card report was generated.
Our website has a very convenient service for calculating monthly payments. When you select the bank, the name of your card, and also enter the amount of the spent credit limit, a schedule of monthly payments will appear on the screen, breaking down the amount of principal and interest for using the card limit, which you can use when planning future expenses.
Please note that monthly the Bank will send to your mobile phone An SMS message containing the amount and date of the obligatory monthly payment, as well as the total amount of debt on your card.
Margarita
Good afternoon!! Tell me, please, what do these terrible numbers mean? The line minimum payment - this turns out to be my debt?? Since I added 1000 rubles to the card, the SMS notification about the funds received was canceled, but they immediately went to the minimum payment (the amount was 1000 rubles more). Total available: 591.84 RUR Overdue debt: 0.00 RUR Minimum payment: 3,412.95 RUR to be repaid by: 12/25/2016 Total debt: 49,693.29 RUR Blocked: 0.00 RUR Own funds: 0.00 RUR Credit limit: 50,000.00 RUR Payment amount in the grace period: 47 356.50 RUR until 25.12 .2016
Margarita, to use your credit card correctly, you must deadlines(in your case - before December 25) deposit on the card an amount of at least the mandatory monthly payment (for you - 3412.95), which is 5% of the total amount of debt on the card plus interest and commissions accrued by the Bank (if any). That is, after depositing 1000 rubles, you need to deposit another difference (2412.95) by December 25th.
At the same time, based on the figures you provided, the amount of the available credit limit, that is, the funds that you can use at the current time, is 594.84 rubles, respectively, the total amount of debt on the card is 49,693.29.
Also, if you plan to use the grace period for lending and not pay for using credit funds, then by December 25 you need to deposit 47,356.50 rubles onto your card.
Anastasia
Good afternoon
Please help me with the calculations. There is a card with a limit of 25,000 rubles. The reporting period begins on the 13th of each month. On October 25, a purchase was made for the entire limit amount. Until December 3, there was a grace period with a mandatory payment of 1249.95 rubles. On November 23, a payment of 2000 rubles was made. Then on December 10, the amount of 4000 rubles was also deposited. The card report was generated on December 12, the new billing period began on December 13. On the 13th I want to completely repay the card debt. If during the reporting period, i.e. until the 12th) to close the debt in full, then the grace period is updated from the 13th. And if full payment happens on the first day of a new reporting period, does the grace period expire?
Anastasia, in order to take advantage of the credit grace period, you had to pay off the entire outstanding amount of debt on the card by December 3. Now you can use the funds on the card within the available balance of the credit limit, but interest will already be charged on the amount spent in the last reporting period. And in order to take advantage of the interest-free lending period again, you need to pay off all accumulated debt on your card by January 3.
Please note that the report date (if you have a Sberbank card) is included in the current billing period and is its last day, so you will only have 20 days left to repay this amount - that is, this is the most unfavorable option.
Article 5. Terms of the contract consumer loan(loan)
1. The consumer credit (loan) agreement consists of general conditions and individual conditions. A consumer credit (loan) agreement may contain elements of other agreements (mixed agreement), if this does not contradict this Federal Law.
2. To the terms of the consumer credit (loan) agreement, with the exception of the terms agreed upon by the lender and the borrower in accordance with Part 9 of this article, applies Civil Code Russian Federation.
3. The general terms of the consumer credit (loan) agreement are established by the lender unilaterally for the purpose of repeated application.
4. The lender must post the following information at the places where services are provided (places where applications for consumer credit (loan) are accepted, including on the information and telecommunications network "Internet") about the conditions for the provision, use and repayment of consumer credit (loan):
1) name of the creditor, location of the permanent executive body, contact telephone number by which communication with the creditor is carried out, official website on the Internet, license number to carry out banking operations(For credit organizations), information about entering information about the creditor into the appropriate State Register(for microfinance organizations, pawnshops), about membership in self-regulatory organization(for credit consumer cooperatives);
2) requirements for the borrower that are established by the lender and the fulfillment of which is mandatory for the provision of a consumer loan (loan);
3) the timing of consideration of the borrower’s application for a consumer loan (loan) and the lender’s decision regarding this application, as well as the list of documents required for consideration of the application, including for assessing the borrower’s creditworthiness;
4) types of consumer credit (loan);
5) the amount of consumer credit (loan) and the terms of its repayment;
6) currencies in which consumer credit (loan) is provided;
7) methods of providing consumer credit (loan), including using electronic means of payment by the borrower;
8) interest rates in percentage per annum, and when using variable interest rates - the procedure for their determination, consistent with the requirements of this Federal Law;
8.1) the date from which interest is calculated for using a consumer credit (loan), or the procedure for determining it;
9) types and amounts of other payments by the borrower under a consumer credit (loan) agreement;
10) value ranges full price consumer credit (loan), determined taking into account the requirements of this Federal Law by type of consumer credit (loan);
11) frequency of payments by the borrower when repaying a consumer loan (loan), paying interest and other payments on the loan (loan);
12) methods for the borrower to repay a consumer loan (loan), pay interest on it, including a free method for the borrower to fulfill obligations under a consumer loan (loan) agreement;
13) the period during which the borrower has the right to refuse to receive a consumer loan (loan);
14) methods of ensuring the fulfillment of obligations under a consumer credit (loan) agreement;
15) the borrower’s responsibility for improper execution of a consumer credit (loan) agreement, the amount of the penalty (fine, penalty), the procedure for its calculation, as well as information on in what cases these sanctions can be applied;
16) information about other agreements that the borrower is obliged to conclude, and (or) other services that he is obliged to receive in connection with the consumer credit (loan) agreement, as well as information about the borrower’s ability to agree to the conclusion of such agreements and (or) the provision of such services or refuse them;
17) information about a possible increase in the amount of the borrower’s expenses compared to the expected amount of expenses in rubles, including when using a variable interest rate, as well as information that the course change foreign currency in the past does not indicate a change in its exchange rate in the future, and information about the increased risks of a borrower receiving income in a currency other than the currency of the loan (loan);
18) information on determining the foreign currency exchange rate in the event that the currency in which funds are transferred by the lender to a third party specified by the borrower when providing a consumer loan (loan) may differ from the currency of the consumer loan (loan);
19) information on the possibility of prohibiting the assignment by a creditor of rights (claims) to third parties under a consumer credit (loan) agreement;
20) the procedure for the borrower to provide information on the use of a consumer credit (loan) (if a condition is included in the consumer credit (loan) agreement on the use by the borrower of the received consumer credit (loan) for certain purposes);
21) jurisdiction of disputes on claims of the creditor against the borrower;
22) forms or other standard forms that define General terms consumer credit (loan) agreements.
5. The information specified in part 4 of this article is brought to the attention of the borrower free of charge. Copies of documents containing the specified information must be provided to the borrower upon his request free of charge or for a fee not exceeding the cost of their production.
6. If the creditor involves third parties in disseminating information about the conditions for the provision, use and repayment of a consumer loan (loan), such persons are obliged to disclose information to the extent and in the manner specified in Part 4 of this article.
7. The general terms and conditions of a consumer credit (loan) agreement should not contain the obligation of the borrower to enter into other agreements or to use the services of a lender or third parties for a fee. The lender cannot require the borrower to pay payments under a consumer credit (loan) agreement that are not specified in the individual terms of such agreement.
8. When a borrower applies to a lender for a consumer loan (loan) in the amount (with a lending limit) of 100,000 rubles or more or an equivalent amount in foreign currency, the lender is obliged to inform the borrower that if within one year the total amount of payments for all available to the borrower on the date of applying to the lender for a consumer loan (loan), the obligations under credit agreements, loan agreements, including payments on the consumer loan (loan) provided, will exceed fifty percent of the borrower’s annual income, for the borrower there is a risk of failure to fulfill obligations under the agreement consumer credit (loan) and the application of penalties to it.
9. The individual terms of the consumer credit (loan) agreement are agreed upon by the lender and the borrower individually and include the following conditions:
1) the amount of consumer credit (loan) or credit limit and the procedure for changing it;
2) the validity period of the consumer credit (loan) agreement and the repayment period of the consumer credit (loan);
3) the currency in which the consumer loan (loan) is provided;
4) the interest rate in percent per annum, and when using a variable interest rate - the procedure for determining it, consistent with the requirements of this Federal Law, its value as of the date of provision of individual conditions to the borrower;
(see text in the previous edition)
5) information on determining the foreign currency exchange rate if the currency in which funds are transferred by the lender to a third party specified by the borrower when providing a consumer loan (loan) differs from the currency in which the consumer loan (loan) was provided;
5.1) an indication of the change in the amount of the borrower’s expenses when increasing the variable interest rate of the consumer loan (loan) used in the consumer credit (loan) agreement by one percentage point, starting from the second regular payment, on the nearest date after the expected date of concluding the consumer credit (loan) agreement ;
6) the number, size and frequency (timing) of payments by the borrower under a consumer credit (loan) agreement or the procedure for determining these payments;
7) the procedure for changing the number, size and frequency (timing) of payments by the borrower in case of partial early return consumer credit (loan);
8) methods of fulfilling monetary obligations under a consumer credit (loan) agreement in locality at the location of the borrower specified in the consumer credit (loan) agreement, including a free way for the borrower to fulfill obligations under such an agreement in the locality at the place where the borrower received the offer (proposal to enter into an agreement) or at the location of the borrower specified in the consumer credit (loan) agreement ;
9) an indication of the need for the borrower to conclude other agreements required for the conclusion or execution of a consumer credit (loan) agreement;
10) an indication of the need to provide security for the fulfillment of obligations under a consumer credit (loan) agreement and the requirements for such security;
11) the purpose of the borrower’s use of a consumer credit (loan) (if a condition is included in the consumer loan (loan) agreement on the borrower’s use of a consumer credit (loan) for certain purposes);
12) the borrower’s responsibility for improper fulfillment of the terms of the consumer credit (loan) agreement, the amount of the penalty (fine, penalty) or the procedure for determining them;
13) the possibility of prohibiting the assignment by the creditor of rights (claims) to third parties under a consumer credit (loan) agreement;
14) the borrower’s agreement with the general terms and conditions of the consumer credit (loan) agreement of the relevant type;
15) services provided by the lender to the borrower for a fee and necessary for concluding a consumer credit (loan) agreement (if any), their price or the procedure for determining it (if any), as well as confirmation of the borrower’s consent to their provision;
16) method of information exchange between the lender and the borrower.
10.B individual conditions consumer credit (loan) agreements may include other conditions. If the general terms of the consumer credit (loan) agreement contradict the individual terms of the consumer credit (loan) agreement, the individual terms of the consumer credit (loan) agreement are applied.
11. The individual and general terms of the consumer credit (loan) agreement must correspond to the information provided by the lender to the borrower in accordance with Part 4 of this article.
12. The individual terms of the consumer credit (loan) agreement specified in Part 9 of this article are reflected in the form of a table, the form of which is established normative act Bank of Russia, starting from the first page of the consumer credit (loan) agreement, in a clear, easily readable font.
13. A consumer credit (loan) agreement cannot contain:
1) a condition on the transfer to the creditor of the entire amount of the consumer loan (loan) or part thereof as security for the fulfillment of obligations under the consumer credit (loan) agreement;
2) a condition for the lender to issue a new consumer loan (loan) to the borrower in order to repay the existing debt to the lender without concluding a new consumer loan (loan) agreement after the date such debt arose;
3) conditions establishing the borrower’s obligation to use the services of third parties in connection with the fulfillment of the borrower’s monetary obligations under a consumer credit (loan) agreement for a fee.
14. Changes in individual conditions and general conditions of a consumer credit (loan) agreement are carried out in compliance with the requirements established by this Federal Law.
15. The borrower, in the manner established by the consumer credit (loan) agreement, is obliged to notify the lender of the change contact information, used to communicate with him, about changing the method of communication of the creditor with him.
16. The creditor has the right to unilaterally reduce the constant interest rate, reduce or cancel the fee for the provision of services provided for by the individual terms of the consumer credit (loan) agreement, reduce the amount of the penalty (fine, penalty) or cancel it in whole or in part, set a period within which it is not charged, or decide to refuse to collect a penalty (fine, penalty), as well as change the general terms of the consumer credit (loan) agreement, provided that this does not entail the emergence of new or an increase in the size of existing monetary obligations of the borrower under the consumer agreement credit (loan). In this case, the lender, in the manner established by the consumer credit (loan) agreement, is obliged to send the borrower a notice of changes in the terms of the consumer credit (loan) agreement, and in the event of a change in the amount of upcoming payments, also information about upcoming payments and provide access to information about changes in the terms of the consumer agreement credit (loan).
17. If the individual terms of the consumer credit (loan) agreement provide for the lender to open bank account, all operations on such an account related to the fulfillment of obligations under a consumer loan (loan) agreement, including opening an account, issuing to the borrower and crediting a consumer loan (loan) to the borrower’s account, must be carried out by the lender free of charge.
18. Conditions on the borrower’s obligation to enter into other agreements or to use the services of a lender or third parties for a fee in order to conclude a consumer credit (loan) agreement or its execution are included in the individual terms of the consumer credit (loan) agreement only if expressed by the borrower in writing their consent to conclude such an agreement and (or) to provide such a service in an application for a consumer loan (loan).
22. In a consumer credit (loan) agreement, the parties may establish one method or several ways for the borrower to fulfill monetary obligations under the consumer credit (loan) agreement. In this case, the lender is obliged to provide the borrower with information about the method of free execution monetary obligation under a consumer credit (loan) agreement in the locality at the place where the borrower received the offer (proposal to conclude an agreement) or at the location of the borrower specified in the consumer credit (loan) agreement.
23. The interest rate under a consumer credit (loan) agreement cannot exceed 1 percent per day.
24. Under a consumer credit (loan) agreement, the repayment period of the consumer credit (loan) for which at the time of its conclusion does not exceed one year, the accrual of interest, penalties (fine, penalty), and other measures of liability under the consumer credit (loan) agreement are not allowed. , as well as payments for services provided by the lender to the borrower for a fee under a consumer credit (loan) agreement, after the amount of accrued interest, penalties (fine, penalty), other measures of liability under the consumer credit (loan) agreement, as well as payments for services provided by the lender to the borrower for a fee under a consumer credit (loan) agreement (hereinafter referred to as the fixed amount of payments), will reach one and a half times the amount of the provided consumer credit (loan). The condition containing the prohibition established by this part must be indicated on the first page of the consumer loan (loan) agreement, the repayment period for the consumer loan (loan) for which at the time of its conclusion does not exceed one year, before the table containing the individual terms of the consumer loan agreement ( loan).
The concept of “obligatory loan payment” is most often associated with the use of credit bank cards. The main feature of bank cards credit type It is customary to refer to the possibility of paying for purchased goods/services not only with one’s own funds (stored on the account of such a card), but also with the involvement of a certain amount of borrowed resources.
Naturally, the use of borrowed funds cannot be completely free of charge. Most credit cards have a certain grace period for repayment borrowed money. Paying off debt after the grace period is similar to paying off a regular loan.
The essence of the term “mandatory payment”
The obligatory payment on a loan is usually called that minimum amount funds that the borrower undertakes to deposit into the lender’s account before the deadline for loan payment. In other words, the obligatory loan payment is the minimum payment to repay borrowed funds, below which the borrower cannot lower the loan payment.
Using borrowed funds from a credit card has a number of features:
- The size (or amount) of mandatory loan payments usually depends on the amount of debt of the card account user. Often banks set a limit below which the minimum payment, in principle, cannot fall.
- A bank client has the right to repay credit card debt not in one-time payment. Often, it is enough for a financial institution that the borrower only makes a mandatory (minimum allowable, according to the card service agreement) payment. Typically, such a payment is no more than 5% of the borrower's principal debt.
- In order to use borrowed funds from a credit card on favorable (preferential) terms for the borrower, it is important to carefully monitor the deadline for making the minimum loan payment. Otherwise, the financial institution has the right to charge the borrower penalties for late payment of the loan.
The deadline for loan payment is usually the end date of the next payment period, lasting 20 or 25 days, starting immediately after the end of the billing period on the card. Grace period lending, in this case, is considered to be a combination of one payment and one reporting period, which can last from fifty (20+30) to fifty-five (25+30) days.
When drawing up a new card agreement and issuing a credit card, employees of financial institutions must inform their clients about last day drawing up an extract for credit account. IN this document All credit card expenses incurred for the specified time period will be detailed. The date the statement is provided will be considered the settlement date.
It turns out that financial institutions allow the credit card holder to independently and quite flexibly regulate the process of debt repayment. The client undertakes to pay only the required minimum monthly to repay the loan without any restrictions on the period of use of the loan funds.
The period for using credit funds from a card account, as a rule, is limited only by the validity period of the card itself. Next is a map with a certain credit limit can be reissued (re-issued) free of charge, while the cardholder’s account will remain the same, as will the client’s obligations to repay the loan on time.
How do banks set the minimum payment?
Three different strategies can be used to form the minimum loan payment:
- The minimum payment may be calculated as a certain percentage of the outstanding balance. From the total loan amount, the bank calculates the percentage specified in the agreement, often equal to five percent, which will be the minimum payment on the loan;
- Sometimes the minimum payment is called a certain amount of money as a percentage, which is calculated from the total amount of loan funds provided. In other words, this is the amount of the percentage of the total limit of credit funds provided to the borrower;
- The minimum payment can be a fixed amount, pre-calculated by bank employees and announced to the client.
How do you pay off credit card debt?
When calculating the final loan payment, the bank client must take into account not only the selected scheme for forming the mandatory payment. When making calculations, it is important to take into account the following components of the payment:
- Various commissions. Most often, withdrawing cash from a card account involves a certain bank commission, which is slightly lower for withdrawing your own funds than for withdrawing borrowed funds. Also, a commission may be charged when transferring funds from card to card, upon receipt by the client additional services insurance, SMS notifications, etc.;
- Payment percentage for using credit cards in cash beyond the grace period;
- Possible penalties, bank penalties or penalties. Additional payments may arise when a client forgets to make the required minimum loan payment on time.
How can I determine the minimum loan payment amount?
To clarify the size of the minimum loan payment, it is logical to contact the employees of your partner bank, who will always be able to help and answer all the client’s questions. As a rule, the program automatically calculates the minimum loan payment, and the client receives only a statement.
At the request of the client, such a loan statement can be provided in in electronic format and sent by email. Often, financial organizations provide SMS information services of this type.
How is the minimum payment paid?
To repay a mortgage to a financial institution, the client can use the following payment options:
- Funds can be transferred to the borrower’s account from another account (card or other) opened in the same or another financial institution;
- If you wish, you can draw up documents in such a way that your wage was transferred to a credit card, thereby repaying the debt;
- You can make a payment at a bank branch through a cash desk;
- Funds can be transferred using an ATM or terminal that has the ability to accept cash.
It is important to remember that some of the above methods for making your monthly loan payment may involve the deduction of an additional fee from your account.
In general, mandatory or minimum payments by credit card are necessary only if the client has some debt to the bank. If there is a sufficient amount of own funds on the credit card, there can be no talk of any mandatory payments on the loan.
Credit – borrowing money. Regardless of the type of loan, the main condition for issuance is its prompt repayment. This means that the money must be received to pay off the debt on a specific day. In this case, payments are of two types: annuity and differentiated. Let's consider further how the types of loan payments differ, and which one is more profitable.
Most often, banks offer clients to pay off loans in equal monthly installments. This type of payment is called annuity.
The amount to be paid consists of part of the principal debt and the overpayment. At the same time, the share of the principal debt in the first months is small, and the bulk of the amount payable consists of accrued interest.
There are two types of loan payments. Which one to choose is up to the borrower There are two options for calculation: manual and using a calculator. Credit calculator located on any website large bank
. Using such a tool, you can determine the amount of interest, the amount used to repay the loan, and the amount of overpayment.
| Let's give an example. The client took out a loan for 100 thousand rubles for a period of 24 months at a rate of 18% per annum. The graph will look like this: | Payment no. | date | Sum | Main debt | Interest | Commissions |
| 1 | Principal balance | 4 992,41 | 3 492,41 | 1 500,00 | December, 2017 | 96 507,59 |
| 2 | No | 4 992,41 | 3 544,80 | 1 447,61 | December, 2017 | 92 962,79 |
| 3 | January, 2018 | 4 992,41 | 3 597,97 | 1 394,44 | December, 2017 | 89 364,83 |
| 4 | February, 2018 | 4 992,41 | 3 651,94 | 1 340,47 | December, 2017 | 85 712,89 |
March, 2018 From the table we see that maximum size
percent - in the first months, and it gradually decreases. The share of the principal debt in the monthly payment, on the contrary, increases. Based on this feature, the annuity scheme is beneficial to those clients who have taken out a short-term loan. For long-term loans (mortgage, car loan), it is better to choose a differentiated one. The manual payment scheme requires some knowledge of economics and basic computing skills.
In the loan agreement, if an annuity scheme is selected, the following formula is given:
where x is the monthly payment amount,
S – loan amount,
P – (1/12) interest rate,
The formula is quite simple, but it is worth paying attention to the indication of the interest rate. It is given not in annual, but in monthly equivalent. You can also find out the amount of the overpayment: the received monthly payment must be multiplied by the number of months of the loan (1 year - 12 months, 3 years - 36 months, etc.). From the resulting value, you need to subtract the size of the loan itself.
Differentiated payment
With a differentiated scheme, each month the client pays different amounts, which gradually decrease.
| Let's give an example. The client took out a loan for 100 thousand rubles for a period of 24 months at a rate of 18% per annum. The graph will look like this: | Payment no. | date | Sum | The payment amount also consists of the principal amount and interest, but unlike the annuity payment, the majority of the payment is made up of the principal amount. Let's give the same example, but with a differentiated scheme: | Interest | Interest charges |
| 1 | Principal balance | 5 666,67 | 4 166,67 | 1 500,00 | December, 2017 | 95 833,33 |
| 2 | No | 5 604,17 | 4 166,67 | 1 437,50 | December, 2017 | 91 666,67 |
| 3 | January, 2018 | 5 541,67 | 4 166,67 | 1 375,00 | December, 2017 | 87 500,00 |
| 4 | February, 2018 | 5 479,17 | 4 166,67 | 1 312,50 | December, 2017 | 83 333,33 |
| 5 | Balance of debt | 5 416,67 | 4 166,67 | 1 250,00 | December, 2017 | 79 166,67 |
April, 2018 Unlike the previous calculation, where monthly payment
was 4992 rubles. here it is higher, but decreases monthly. In addition, if under the annuity method in the first month the amount of payment of the principal debt was 3,492 rubles. and gradually decreased, then in this case it is stable and amounts to 4166 rubles.
The diagram clearly shows the differences in payments Of course, almost every client is concerned about the final amount of overpayment. In this case - 18,750 rubles, and with the annuity scheme - 19,818 rubles. That is differentiated payment more profitable, but there is a nuance here: if you plan to repay the loan earlier, then when paying within the first 3-5 months of using the loan, it is better to choose annuity payment
. And if you plan to make partial early repayment or pay the debt in full in 1-2 years, then it is better to choose a differentiated option. A formula for manual calculation also exists and is specified in the loan agreement.
- The calculation is carried out in a number of stages:
determination of the principal part of the debt to be paid:
Payment = loan amount / loan period (monthly);
In our example, the principal amount is: - 100000/24 = 4166.67 rubles;
definition of percentage:
Payment = Principal balance * annual rate / 12
In our example, the amount of interest payable in the first month is: - 100000*0.18/12 = 1500 rubles;
determination of the final amount to be paid:
1500 rub. +4166.67 rub. = 5666.67 rub.
Thus, the calculation is quite simple. The amount will decrease each month as the principal debt also decreases. This must be taken into account in the formula.
Choosing a payment type for a mortgage Types of loan payments for a mortgage are the same as for any other, in the form of a loan but the loan itself presupposes large sums
Let's consider an example: a mortgage for 10 years, the amount is 1 million rubles, at a rate of 12% per annum. If an annuity type is issued, then the overpayment will be 721,651 rubles. If the type is differentiated, then the interest is 605,000 rubles. The overpayment is really lower. But the choice of scheme must be made based on the ability to pay off the loan ahead of schedule.
If you plan to repay the mortgage during the first half of the year, then with the annuity scheme you will need to pay 43,560 rubles. percent, and with a differentiated scheme - 49,165 rubles, that is, more. Therefore, it is better to choose an annuity payment in case of such a quick closure of the contract.
If the mortgage is repaid later, it is better to choose a differentiated type of payment. You can contact a bank specialist to calculate the amount of debt for early repayment. It is worth remembering that early repayment must be supported by a statement, otherwise the funds will simply remain in the account and will not be written off.
Mortgage payments should be chosen based on the borrower's ability to pay
Advantages and disadvantages of payment types
As we found out above, the types of loans - annuity and differentiated - differ from each other. Both schemes have the right to exist, since their benefit to the client depends on the terms of use of the loan. Let us present the main differences between the schemes:
- the amount of overpayment when repaying the loan on time under the agreement is less with a differentiated type;
- with a differentiated scheme, as a rule, the requirements for the borrower are stricter;
- An annuity scheme involves a large interest payment on initial terms lending;
- The annuity scheme is more convenient for payments because it is fixed. It’s easier to work with a differentiated one if you have an economic education.
Thus, having clarified what types of loans there are, it can be argued that each client must select a scheme independently based on certain circumstances. Some banks offer two payment schemes, for example, Sberbank, but most use only one annuity, since it is beneficial for financial institution
and convenient for the client.
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