What is the best way to make an early repayment of an annuity payment?
- This is the provision of funds on the terms of their return by a certain date and in a specific amount. In addition, the loan is issued on a paid basis: i.e. you have to pay interest on it. It happens that a client has a desire and, most importantly, an opportunity to deposit the balance of the debt before the expiration of the crediting period. In such a situation, the banking organization is loyal to the client. Let's look at the most profitable way to make early repayment of the annuity payment. Plus, let's try to understand: does it make sense?
What's happened annuity payments? This is the deposit of funds in equal parts once within a month.
Important! The payment amount is the “body” of the principal debt plus interest.
Interest is accrued every 30 days always taking into account the full amount current size credit. It turns out that in the first month they have the maximum value. Then the loan balance decreases, and the cash equivalent of the interest also decreases (the value itself is stored).
Note 1. For example, you took out a loan in the amount of 100,000 rubles. Every month you need to pay 10,000. In this case, the interest is 5%. These 5% in the first month are calculated from 100,000. In the second month - from 90,000, etc. Thus, although the rate remains the same, the amount is reduced.
Because banks provide loans not out of good intentions, but for the sake of profit from interest, it is not profitable for them that the client covers the debt in advance.
Important! Interest is the main source of income for banking organizations.
Until 2012, banks in Russia strictly regulated this issue. Limits were set on advance loan repayment- up to penalties.
Conclusion
Banks provide their clients with rather flexible and varied lending conditions. Everyone will find the option that is closest to themselves. When the question arises of choosing whether to cover a loan ahead of schedule or not, you must first take into account your current financial capabilities.