Partial loan repayment 5 letters scanword. Mandatory loan payment
Article 5. Terms of a consumer credit (loan) agreement
1. A consumer loan (loan) agreement consists of general conditions and individual conditions. A consumer loan (loan) agreement may contain elements of other agreements (mixed agreement), if this does not contradict this Federal Law.
2. The Civil Code of the Russian Federation shall apply to the terms of the consumer credit (loan) agreement, with the exception of the conditions agreed upon by the lender and the borrower in accordance with part 9 of this article.
3. The general terms and conditions of the consumer credit (loan) agreement are established by the lender unilaterally for repeated use.
4. The lender in the places of services (places for receiving applications for the provision of a consumer loan (loan), including the information and telecommunication network "Internet") must post the following information on the conditions for the provision, use and repayment of a consumer loan (loan):
1) the name of the creditor, the location of the permanent executive body, the contact phone number for communication with the creditor, the official website in the information and telecommunication network "Internet", the license number for banking operations (for credit organizations), information on entering information about lender to the relevant state register (for microfinance organizations, pawnshops), membership in a self-regulatory organization (for credit consumer cooperatives);
2) requirements for the borrower, which are established by the lender and the fulfillment of which is mandatory for the provision of a consumer loan (loan);
3) the time period for consideration of the application for a consumer loan (loan) issued by the borrower and the adoption by the lender of a decision regarding this application, as well as a list of documents necessary for considering the application, including for assessing the borrower's creditworthiness;
4) types of consumer credit (loan);
5) the amount of consumer credit (loan) and the timing of its return;
6) currencies in which a consumer loan (loan) is granted;
7) methods of providing consumer credit (loan), including using a borrower using electronic means of payment;
8) interest rates in percent per annum, and when applying variable interest rates - the procedure for determining them that meets the requirements of this Federal Law;
8.1) the date from which interest is accrued for the use of a consumer loan (loan), or the procedure for determining it;
9) types and amounts of other payments of the borrower under a consumer credit (loan) agreement;
10) ranges of the total cost of a consumer loan (loan), determined taking into account the requirements of this Federal Law by type of consumer loan (loan);
11) the frequency of payments by the borrower when repaying a consumer loan (loan), paying interest and other payments on a loan (loan);
12) ways of returning a consumer loan (loan) by a borrower, paying interest on it, including a free way for a borrower to fulfill obligations under a consumer loan (loan) agreement;
13) the terms during which the borrower has the right to refuse to obtain a consumer loan (loan);
14) ways to ensure the fulfillment of obligations under the consumer credit (loan) agreement;
15) the borrower's responsibility for the improper performance of the consumer loan (loan) agreement, the amount of the forfeit (fine, penalty), the procedure for its calculation, as well as information on in which cases these sanctions can be applied;
16) information on other agreements that the borrower is obliged to conclude, and (or) other services that he is obliged to receive in connection with the consumer loan (loan) agreement, as well as information on 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 expenses of the borrower compared with the expected amount of expenses in rubles, including when applying a variable interest rate, as well as information that a change in the foreign exchange rate in the past does not indicate a change in its exchange rate in the future, and information on the increased risks of the borrower receiving income in a currency other than the currency of the loan (loan);
18) information on determining the foreign currency exchange rate if the currency in which the creditor transfers funds to a third party indicated 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 lender from assigning to third parties rights (claims) under a consumer credit (loan) agreement;
20) the procedure for the borrower to provide information on the use of a consumer loan (loan) (when a consumer loan (loan) is included in the contract, the conditions for the borrower to use the received consumer loan (loan) for certain purposes);
21) jurisdiction of disputes on claims of the creditor against the borrower;
22) forms or other standard forms in which the general terms and conditions of the consumer credit (loan) agreement are defined.
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 this information should be provided to the borrower upon his request free of charge or for a fee not exceeding the cost of their production.
6. If a creditor attracts third parties to disseminate information on the conditions for the provision, use and repayment of a consumer loan (loan), such persons are required to disclose information in the amount and in the manner specified in paragraph 4 of this article.
7. The general terms and conditions of a consumer credit (loan) agreement shall not contain the obligation of the borrower to conclude other agreements or use the services of a creditor or third parties for a fee. The lender cannot require the borrower to pay payments under the consumer credit (loan) agreement that are not specified in the individual conditions of such an agreement.
8. When a borrower applies to a creditor for a consumer loan (loan) in the amount (with a credit limit) of 100,000 rubles or more or in 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 creditor for the provision of a consumer loan (loan) obligations under loan agreements, loan agreements, including payments for a consumer loan (loan), will exceed fifty percent of the borrower's annual income, for the borrower there is a risk of default by him of 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 the consumer loan (loan) or credit limit and the procedure for changing it;
2) the validity period of the consumer loan (loan) agreement and the term for repayment of the consumer loan (loan);
3) the currency in which a consumer loan (loan) is granted;
4) the interest rate in percent per annum, and when applying a variable interest rate - the procedure for determining it that meets the requirements of this Federal Law, its value on the date the individual conditions are provided to the borrower;
(see text in previous edition)
5) information on determining the foreign currency exchange rate if the currency in which the creditor transfers money to a third party indicated by the borrower when providing the consumer loan (loan) differs from the currency in which the consumer loan (loan) was provided;
5.1) an indication of a change in the amount of expenses of the borrower upon an increase in the variable interest rate of the consumer loan (loan) used in the consumer loan (loan) contract by one percentage point, starting from the second next payment, on the nearest date after the expected date of conclusion of the consumer loan (loan) agreement ;
6) the amount, size and frequency (time) of the borrower's payments under the consumer credit (loan) agreement or the procedure for determining these payments;
7) the procedure for changing the quantity, size and frequency (timing) of the borrower's payments in case of partial early repayment of a consumer loan (loan);
8) methods for fulfilling monetary obligations under a consumer loan (loan) agreement in the locality at the location of the borrower specified in the consumer loan (loan) agreement, including a free way for the borrower to fulfill obligations under such an agreement in the locality at the place the borrower receives the offer (proposals to conclude agreement) or at the location of the borrower specified in the consumer loan (loan) agreement;
9) an indication of the need for the borrower to conclude other agreements required for the conclusion or execution of a consumer loan (loan) agreement;
10) an indication of the need to provide security for the fulfillment of obligations under a consumer credit (loan) agreement and requirements for such security;
11) the purpose of the borrower to use the consumer loan (loan) (when the consumer loan (loan) is included in the contract, the conditions for the borrower to use the consumer loan (loan) for certain purposes);
12) the borrower's responsibility for the improper fulfillment of the terms of the consumer credit (loan) agreement, the amount of the forfeit (fine, penalty) or the procedure for determining them;
13) the possibility of prohibiting the lender from assigning to third parties rights (claims) under a consumer loan (loan) agreement;
14) the borrower's consent with the general terms of the consumer loan (loan) agreement of the corresponding type;
15) the services provided by the creditor to the borrower for a fee and necessary for concluding a consumer loan (loan) agreement (if any), their price or the procedure for determining it (if any), as well as confirmation of the borrower's consent to provide them;
16) a way of exchanging information between the lender and the borrower.
10. The individual terms and conditions of the consumer credit (loan) agreement may include other conditions. If the general terms and conditions of the consumer loan (loan) agreement contradict the individual conditions of the consumer loan (loan) agreement, the individual conditions of the consumer loan (loan) agreement are applied.
11. The individual and general conditions of the consumer credit (loan) agreement must comply with the information provided by the lender to the borrower in accordance with part 4 of this article.
12. The individual conditions 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 by the Bank of Russia regulatory act, starting from the first page of the consumer credit (loan) agreement, in clear, well-readable font.
13. A consumer loan (loan) agreement may not contain:
1) the condition of transferring to the creditor as security for the fulfillment of obligations under the consumer credit (loan) agreement the entire amount of the consumer credit (loan) or part thereof;
2) the condition on the lender issuing to the borrower a new consumer loan (loan) in order to repay the existing debt to the creditor without concluding a new consumer loan (loan) agreement after the date of such debt;
3) the conditions establishing the obligation of the borrower to use the services of third parties in connection with the fulfillment of the borrower's monetary obligations under the consumer credit (loan) agreement for a fee.
14. Changing the individual conditions and general conditions of the consumer credit (loan) agreement is carried out in compliance with the requirements established by this Federal Law.
15. The borrower, in the manner prescribed by the consumer credit (loan) agreement, is obliged to notify the lender about the change in contact information used to contact him, about the change in the way the lender communicates with him.
16. The lender 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 loan (loan) agreement, reduce the amount of the penalty (fine, penalty), or cancel it in whole or in part, establish a period during whom it is not charged, or decide not to charge a penalty (fine, penalty), as well as change the general terms of the consumer loan (loan) agreement, provided that this does not entail the emergence of new or increase the size of the borrower's existing monetary obligations under the consumer agreement loan (loan). In this case, the creditor, in the manner prescribed by the consumer credit (loan) agreement, is obliged to send a notification to the borrower about changes in the terms of the consumer credit (loan) agreement, and in case of a change in the amount of upcoming payments, also information on upcoming payments and provide access to information on changes in the terms of the consumer agreement loan (loan).
17. In the event that the individual conditions of the consumer credit (loan) agreement provide for the creditor to open a bank account for the borrower, all operations on such an account related to the fulfillment of obligations under the consumer credit (loan) agreement, including opening an account, issuing to the borrower and crediting to the borrower's account A consumer loan (loan) must be carried out by the lender for free.
18. The terms on the obligation of the borrower to conclude other agreements or use the services of a creditor or third parties for a fee in order to conclude a consumer loan (loan) agreement or to execute it are included in the individual terms of the consumer loan (loan) agreement only if the borrower has expressed it in writing his consent to conclude such an agreement and (or) to provide such a service in an application for a consumer loan (loan).
22. In the consumer loan (loan) agreement, the parties may establish one method or several ways of the borrower to fulfill monetary obligations under the consumer loan (loan) agreement. In this case, the lender is obliged to provide the borrower with information about the way of free fulfillment of the monetary obligation under the consumer loan (loan) agreement in the locality at the place where the borrower received the offer (proposal to conclude the agreement) or at the location of the borrower specified in the consumer loan (loan) agreement.
23. The interest rate under a consumer loan (loan) agreement may not exceed 1 percent per day.
24. Under a consumer loan (loan) agreement, the term for repayment of a consumer loan (loan) under which at the time of its conclusion does not exceed one year, accrual of interest, forfeit (fine, penalty), other measures of responsibility under the consumer loan (loan) agreement is not allowed , as well as payments for services rendered by the creditor to the borrower for a separate fee under a consumer loan (loan) agreement, after the amount of accrued interest, penalty (fine, penalty), other measures of responsibility under the consumer loan (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 shall be indicated on the first page of the consumer loan (loan) agreement, the term for repayment of the consumer loan (loan) for which at the time of its conclusion does not exceed one year, before the table containing the individual conditions of the consumer loan agreement ( loan).
A loan is a loan. Regardless of the type of loan, the main condition for issuing is its urgent repayment. This means that the money must be received in payment of debt on a particular day. There are two types of payments: annuity and differentiated. Let us further consider how the types of loan payments differ, and which one is more profitable.
Most often, banks offer customers to pay the loan in equal monthly installments. This type of payment is called annuity. The amount payable consists of part of the principal and overpayment. At the same time, the share of the main 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 calculation options: manual and on the calculator. The loan calculator is located on the website of any major bank. Using this tool, you can determine the amount of interest, the amount used to repay the loan, the amount of overpayment.
We give an example. A client has issued 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. | the date | Amount | Main debt | Interest | Commissions | Balance of principal |
1 | December 2017 | 4 992,41 | 3 492,41 | 1 500,00 | no | 96 507,59 |
2 | January 2018 | 4 992,41 | 3 544,80 | 1 447,61 | no | 92 962,79 |
3 | February 2018 | 4 992,41 | 3 597,97 | 1 394,44 | no | 89 364,83 |
4 | March 2018 | 4 992,41 | 3 651,94 | 1 340,47 | no | 85 712,89 |
From the table we see that the maximum interest is in the first months, and it is gradually decreasing. The share of the main debt in the monthly payment, on the contrary, is increasing. Based on this feature, the annuity scheme is beneficial to those customers who have issued a short-term loan. For long-term loans (mortgage, car loan) it is better to choose a differentiated one.
A manual payment scheme implies some knowledge in the field of economics and elementary computing skills. In a loan agreement, if an annuity scheme is chosen, the following formula is given:
where x is the amount of the monthly payment,
S is the loan amount,
P - (1/12) of the interest rate,
N is the lending period in months.
The formula is quite simple, but you should pay attention to indicating the interest rate. It is given not in annual but monthly equivalent. You can also find out the amount of the overpayment: the monthly payment received must be multiplied by the number of months of the loan (1 year - 12 months, 3 years - 36 months, etc.). From the obtained 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 are gradually reduced. The amount of payment also consists of the amount of the principal and interest, but unlike the annuity payment, the majority of the payments are the amount of the principal. We give the same example, but with a differentiated circuit:
Payment No. | the date | Amount | Main debt | Interest charges | Commissions | Debt balance |
1 | December 2017 | 5 666,67 | 4 166,67 | 1 500,00 | no | 95 833,33 |
2 | January 2018 | 5 604,17 | 4 166,67 | 1 437,50 | no | 91 666,67 |
3 | February 2018 | 5 541,67 | 4 166,67 | 1 375,00 | no | 87 500,00 |
4 | March 2018 | 5 479,17 | 4 166,67 | 1 312,50 | no | 83 333,33 |
5 | April 2018 | 5 416,67 | 4 166,67 | 1 250,00 | no | 79 166,67 |
In contrast to the previous calculation, where the monthly payment was 4992 rubles. here it is higher, but monthly decreases. In addition, if the annuity method in the first month, the amount of payment of the principal debt amounted to 3492 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 cares about the final amount of the overpayment. In this case - 18,750 rubles., And with the annuity scheme - 19818 rubles. That is, a differentiated payment is more profitable, but there is a nuance: if you plan to repay the loan earlier, then when repaying during the first 3-5 months of using the loan, it is better to choose an annuity payment. And if you plan to partial early repayment or payment of the debt in full after 1-2 years, it is better to choose a differentiated option.
A formula for manual settlement also exists and is prescribed in the loan agreement. The calculation is made in a number of stages:
- determination of the main part of the debt payable:
Payment \u003d loan amount / crediting period (in months);
In our example, the principal amount is as follows:
100000/24 \u200b\u200b\u003d 4166, 67 rubles; - determination of the percentage:
Payment \u003d Balance of principal debt * annual rate / 12
In our example, the amount of interest payable in the first month:
100000 * 0.18 / 12 \u003d 1500 rubles; - determination of the final amount payable:
1500 rub. +4166,67 RUB \u003d 5666.67 rubles.
Thus, the calculation is quite simple. The amount will decrease monthly, as the main debt will also decrease. This must be taken into account in the formula.
Choosing a type of payment for a mortgage
The types of mortgage loan payments are the same as with any other type of loan, but the loan itself involves large amounts for a sufficiently long credit period (10-30 years).
Consider an example: a mortgage for 10 years, the amount of 1 million rubles, at a rate of 12% per annum. If an annuity type is issued, then the overpayment will be 721651 rubles. If the species is differentiated, then the interest is 605,000 rubles. Overpayment is really lower. But the choice of scheme must be carried out based on the ability to pay the loan ahead of schedule.
If you plan to pay off 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 - 49165 rubles, that is, more. Therefore, it is better to choose an annuity payment in the event of such an early closure of the contract.
If the mortgage is paid off 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 an early repayment must necessarily be supported by a statement, otherwise the funds will simply remain in the account and will not be written off.
Mortgage payments should be selected based on their ability to pay the borrower
Advantages and disadvantages of payment methods
As it was found above, the types of loans - annuity and differentiated - differ from each other. Both schemes have the right to exist, since their benefit for the client depends on the conditions for using the loan. Imagine the main differences between the schemes from each other:
- the amount of overpayment when paying a loan within the terms of the contract is less for a differentiated type;
- with a differentiated scheme, as a rule, stricter requirements for the borrower;
- annuity scheme involves a large payment of interest on the initial terms of the loan;
- an annuity scheme is more convenient for payments, since it is fixed. With differentiated - it is easier to work with an economic education.
Thus, having specified what types of loans 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, as it is beneficial for a financial institution and convenient for a client.
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The concept of “obligatory loan payment” is most often associated with the use of credit bank cards. The main feature of credit-type bank cards is the ability to pay for purchased goods / services not only with their 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. Most credit cards have a certain grace period for repayment of borrowed funds. Paying back after the grace period is similar to paying a regular loan.
The essence of the term "mandatory payment"
Mandatory loan payment is the minimum amount of money that the borrower agrees to pay to the creditor's account before the border date for payment of the loan. In other words, the obligatory loan payment is the minimum payment for repayment of borrowed funds, below which the borrower cannot lower the loan payment.
The use of borrowed funds from a credit card has a number of features:
- The amount (or amount) of obligatory loan payments usually depends on the amount owed by the user of the card account. 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 by a non-instant payment. Often, it is enough for a financial institution to make the borrower only make a mandatory (minimum acceptable, according to the card service agreement) payment. Typically, such a payment is not more than 5% of the principal debt of the borrower.
- In order to use borrowed funds from a credit card on favorable (preferential) conditions for the borrower, it is important to carefully monitor the border time of making the minimum loan payment. Otherwise, the financial institution has the right to charge the borrower penalties for late payment of the loan.
The boundary date of loan payment is usually called the end date of the next billing period, lasting 20 or 25 days, beginning immediately after the end of the billing period on the card. In this case, the grace period of crediting is considered to be the 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 the last day of preparing a credit account statement. This document will detail all the expenses spent on a credit card for the specified time period. The date the statement is provided will be considered an estimate.
It turns out that financial institutions allow a credit card holder to independently and fairly flexibly regulate the process of debt repayment. The client is obliged to make monthly only the minimum required to repay the loan without any restrictions on the terms of use of credit funds.
The terms for using credit funds from a card account, as a rule, are limited only by the validity period of the card itself. Further, a card with a certain credit limit can be reissued free of charge (reissued), while the cardholder’s account will remain the same as the client’s obligation to repay the loan on time.
How do banks form a minimum payment?
Three different strategies can be used to form a minimum loan payment:
- The minimum payment can be calculated as a certain percentage of the amount of outstanding debt. From the total loan amount, the bank calculates the percentage specified in the contract, often equal to five percent, which will be the minimum loan payment;
- Sometimes a minimum payment is a certain amount of money as a percentage, which is calculated from the total amount of loan funds. In other words, this is the sum of a percentage of the total limit of the loan funds provided to the borrower;
- The minimum payment may be a fixed amount previously calculated by the bank employees and announced to the client.
How is credit card debt repaid?
When calculating the final payment on a loan, a bank client must take into account not only the selected mandatory payment generation scheme. When calculating, it is important to consider the following components of the payment:
- Various commissions. Most often, withdrawing cash from a card account implies a certain commission of the bank, which is somewhat lower for withdrawing own funds than for withdrawing borrowed funds. Also, a commission may be charged when transferring funds from card to card, when a client receives additional insurance services, SMS-informing, etc .;
- The percentage of payment for the use of credit funds over the grace period;
- Possible penalties, bank penalties or interest. Additional payments may occur when the client forgets to make a mandatory minimum loan payment in a timely manner.
How to clarify the size of the minimum loan payment?
To clarify the size of the minimum loan payment, it is logical to contact the employees of your partner bank who can always help and answer all customer questions. As a rule, the minimum loan payment is calculated by the program automatically, while the client receives only the statement.
At the request of the client, such a credit statement can be provided in electronic form and sent by e-mail. Often, financial institutions provide SMS-informing services of this type.
How is the minimum payment paid?
To repay a loan to a financial institution, a 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 salary is 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, which have the ability to accept cash.
It is important to remember that some of the above methods of making a monthly loan payment may involve the withdrawal of an additional commission from the account.
In general, obligatory or minimal payments by credit card are necessary only on condition that 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 obligatory payments on the loan.
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Minimum credit card payment: what is it and how is it calculated?
For the first time a credit card holder, borrowers are faced with a new concept of “minimum payment”. Not everyone clearly understands what it is and how this value is calculated.
What is the minimum payment?
The minimum credit card payment is presented in the form of an amount, which in any case should be received on 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 amount is in the range of 5-10%.
For example, UniCredit Bank and Bank24.ru offer customers 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 rubles). Further, accrued interest, commissions, interest and penalties (when any) are added to this amount.
If at the end of the billing period funds are not received, obligations under the agreement by the cardholder are considered unfulfilled, and a fine is imposed on the amount of the debt. More often it is a fixed value, for example, 700 rubles. (Raiffeisenbank), 300-1800 rubles. (Otkritie Bank), 900 rubles, not more than 50% of the total debt (GE Money Bank). But Sberbank in case of late payment will require a penalty in the amount of 36-38%.
The credit card payment deadline may vary. It depends on the conditions of the bank, but in any case falls on the same day of each month, is interconnected with the date of the statement formation and the length of the grace period for the loan. Some banks set the date on their own. For example, payments on the “Universal Card” of Svyaznoy Bank should be made 5, 10 or 15, while some other credit organizations 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 of the amount of the monthly payment to the approved limit;
- the minimum payment threshold set by the bank.
When paying out the spent credit limit with the help of minimum payments, repayment may be delayed for a long period. Accordingly, the borrower will pay more than interest.
If the banking service tariffs indicate that the minimum monthly payment is 300 rubles, and only 200 was spent on the card, then you need to fully cover the debt (200 rubles +%). Naturally, it is not necessary to overpay the extra money to get exactly 300 rubles.
If you want to make, for example, 5%, and the amount of debt in this case is 10,000 rubles. - you have to pay 500 rubles. plus interest for using credit money. The bank charges only for the money spent - which means that to the amount received 500 rubles. you need to add the interest of the calculation period, calculated on the amount of the spent limit of 10 000 rubles. If the annual rate is 30%, the amount of interest per month will be 250 rubles. (10,000 * 0.3 / 12). Thus, the total value of the minimum payment in the absence of other fees and penalties will be 750 rubles. (500 + 250).
Is the minimum payment beneficial?
If you return the spent limit exclusively with minimal payments, in the end, you get a large overpayment by credit card. The fact is that most banks charge interest on the residual amount of debt that goes into the new period. Therefore, it is beneficial not to split the payment into minimum servings, but to try to credit the amount in excess of the established minimum.
For example, if you do not pay 500 rubles in the above example. of the main debt, and 6000, in the next billing period, the bank will accrue interest only on the remaining 4000 rubles, which in cash will amount to 100 rubles. (4,000 * 0.3 / 12), not 237.5 (9500 * 0.3 / 12).
User Comments:
Boris
Good afternoon! Can a bank not take into account the loan body when calculating the minimum payment?
Boris, the minimum required credit card payment 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 of spent credit funds, but sometimes (for example, with OTP-Bank cards), the total amount of the established credit limit for the card is taken into account.
Thus, in what size and what the payment on your card will consist of, you need to specify in the corresponding tariff plan.
Sergei
I made a 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 demands to deposit more money, otherwise there will be penalties. Is the bank entitled to charge interest in this case, because there is a fact of making a minimum payment, is it seen by bank experts?
Sergei
I understood it. But judging by the fact that on the credit card after all withdrawals (interest, etc.) the positive balance remained, the bank did not suffer a bit. I didn’t withdraw not 100% of the deposited cash, but 40%, knowing that interest will be written off.
For some reason, a riff. in such cases, the bank simply pushes the balance to minus, and when you make a minimum payment, you will immediately see the current picture. Those. if min fee of 20,000, for a card we allow 0 rubles, interest on the card is 5,000 rubles, then at the time of issuing a card there will be a balance of 5,000 rubles, and when making a minimum payment, the system will give out that you have 15,000 rubles available. Well this is so, by the way.
The main question was the following. If after making the minimum payment, withdrawing 40% of it in cash and debiting all with a percentage on the card, a positive balance remains (that is, the bank does not incur losses) by how many penalties and fines are legitimate?
Sergey, as a rule, accrual of interest, fines, penalties and other bank commissions occurs automatically and largely depends on the technical settings of the software. Thus, the operators, it seems to me, simply informed you information from the banking database.
If penalties are actually accrued on your credit debt, you will be able to draw up a written statement of your disagreement and demand their cancellation. In case of refusal, contact the regulator - the Central Bank or resolve the issue through the court.
Sergei
Vera
Good afternoon. Why do I receive a claim from the bank that I have a delay on a credit card, if at the moment there is money on the card for debiting. Or I don’t understand something.
Credit card for 15 thousand, all the money spent on it. A monthly SMS comes with the amount of the monthly loan payment. In February, there was a sum of 450 rubles, I threw 550 rubles on a credit card to pay off the debt, but the money was not written off on time and I also received a claim from the bank about the debt.
Faith, most likely, there is some kind of technical failure. In this situation, you should seek clarification from the Customer Assistance Service at the numbers indicated on the back of your card, or directly at the Bank branch.
vyacheslav
Vyacheslav, all amounts payable on a loan or credit card are calculated and generated automatically using the appropriate software. Thus, errors are extremely rare, only due to a technical failure.
vyacheslav
valentine
Hello.
Is the minimum payment deducted from the total debt? And there is no interest for using a loan, I understand correctly?
For example, my credit card debt is 20,000 rubles, minimum. payment of 5% of the amount, and interest 26 per annum, how much will I have to pay and how much will be deducted from my debt?
Valentine, the principles of forming a monthly payment by 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 correctly answer your question.
The percentage of the principal debt, which is part of the obligatory 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 calculated only on the amount of the used credit limit for the actual number of days.
On our website for calculating the monthly payment by credit card, you can use the special one - Credit card payment calculator, with which you can clearly see when and in what amount you need to replenish a credit card.
Vyacheslav
Vyacheslav, to calculate the amount of the monthly minimum payment, you can use the 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 expenditure operations, and repayment will be carried out in amounts of no more than mandatory payments), at the same time you will need to make a little monthly payment more than 1,000 rubles, and then the amount will gradually decrease to about 600 rubles.
Kristina
The balance of the total debt according to the report 12909.83 RUR There are no requirements for the repayment of the obligatory payment before 28-03-2016.
Please tell me how to understand this) how much do I eventually need to deposit on the card? Credit card for 15,000 Sberbank
Kristina, the Bank monthly sends out messages containing information about the amount, date of payment, as well as the total balance of the debt on your credit card. In your case, most likely, on the date the report was generated, a mandatory monthly payment has already been made, so there is no need to replenish the card in the current payment period.
The balance of total debt means the amount of spent credit limit on the card at the date of the report.
Elena
Good afternoon, tell me please, can a bank increase a monthly payment? Over the course of 5 months, I paid the amount of the monthly payment indicated on the Internet bank, but over the last month the amount of the monthly payment increased by 40%
Elena, to find out the reason for the increase in the amount of the monthly payment, you can call the Customer Assistance Service at the phone number indicated on the back of your card, or contact the bank directly.
Unfortunately, without information about the name of the credit institution of which you are a client, as well as about your tariff plan, it is not possible to prepare the correct answer to your question.
Anna
Hello. OTP Bank credit card in the amount of 158,000. Monthly payment of approximately 7,500. There was a time of severe delay, but all fines and penalties were paid off. I recently found out that only 2,800 out of the total amount of 7,500 go into debt repayment. Is that normal? even if the annual 30%. Operators do not answer direct questions, pour water and do not help to figure it out. So how to figure it out ?? p
Anna, it’s not entirely clear from what sources you found out that this amount is being used to pay off the main debt. Try using a special service on our website with which you can analyze how your monthly payment is split.
In case you do not agree with any operations on your card, you have the right to draw up a corresponding written application at the Bank's branch.
Olga
Good afternoon! I used 40,000 with a credit card of Sberbank 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, because the minimum payment had to be deducted from it?
Olga, when depositing funds to 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 commissions is written off. All other funds become available again for future use.
Guzel
We use a credit card from Sberbank. The threshold was 40 thousand. We raised the limit threshold to 50 thousand. Do we have to deposit up to 50 thousand now to close the card?
Ekaterina
Hello! Is it right that the minimum payment amount includes only interest, excluding the main debt? Situation: the bank’s credit card is a trust for 100,000. We paid a minimum of one and a half years, we decided to completely close the card, and when we came to the bank’s office to find out the remaining debt, we were told that it was 108,000, that is debt not only did not decrease, but also increased!
Ekaterina, according to the established tariffs for credit cards, the obligatory monthly payment consists of a part of the principal debt (as a rule, in the amount of 5% of the amount of the spent credit limit), as well as the amount of accrued interest and other commissions of the Bank.
To understand this situation, I advise you to generate a report on the card yourself through the Internet bank or by contacting a Bank branch and see why the amount of existing credit debt is incorrectly changing. In case of disagreement with these operations, you can write a statement of claim.
Anastasia
Good afternoon! Please explain what this means - Amount of debt 5000 rubles, minimum payment 0 rubles, minimum payment date 06/28/2016, as I understand it, you need to pay 5000 rubles until June 28, and if I do not, then what will happen?
Anastasia, if the statement on your card indicates that the debt is one or another amount, this does not mean that it must be paid off before the end of the payment period. Here, the dates on which the card was discharged were important. it depends on what report they get into and when it will be necessary to repay the debt. In this situation, apparently, the amount of the minimum payment required for payment in the current month was made by you earlier, or the expense operations were carried out in the billing period, for which you will have to pay in the next month.
Thus, today you can fully rely on the available information, and until June 28 do not make a mandatory payment of money to pay off credit debt.
Alexei
Hello, please explain, I completely paid off the position by the end of the grace period. I have it on the 10th and on the 15th I have to make a mandatory payment, do I have to pay it if I have no debt to the bank. Russian Standard Bank
hope
hello, tell me please. I use a Sberbank credit card with a limit of 25,000 rubles, withdrawn 13,000 from it., I later deposited 6500, as a result, 6500 remained for a long time, how much money should be put next time to completely close the loan, if the rate is 26% per annum and the payment is mandatory On July 19, I already closed, that is, on August 19, I need to put 6500 in this way or interest is already charged and I need to put about 7 thousand.
Hope, interest on the use of credit funds on a Sberbank card is accrued on the date of the report, that is, the exact amount needed to fully repay the existing debt, you can see only after the 19th day (if this date is the "report date" on your card).
Thus, the most optimal option for you is to either deposit the amount on the card until the credit limit is fully restored, and upon accrual of interest - add the missing amount; or really deposit a little bit on the card so that interest on the use of credit funds is debited from your own funds.
Our site has a very convenient service that you can use to pre-calculate the monthly payment on your card.
Oksana
Hello. I use the momentum Sberbank card. Pay by bank transfer. And I withdrew 4500 in cash. I want to pay off the entire amount in the billing period. (Only min. Payment in the report). Percentage to be considered for all debts or 4500.
Elena
Good evening! Help me figure it out) I have a Sberbank credit card for 75,000, at 17%! At the moment I have already made a purchase for it and now the amount of debt is 26,700, the minimum payment is 1980. If I spend 30,000 more from it? How will the interest be calculated "They will be summed up? The minimum payment amount will be? Card issue 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, and also plan to make purchases, so it is not possible to accurately answer your question.
Please note that if the report date on 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 a mandatory minimum payment or pay off the whole the amount of debt to use the interest-free lending period) up to 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 debts on your card, you can use a special service.
Svetlana
Hello! I issued a MIR credit card to RNKB for 50,000. And this is what happened: I have exhausted the limit, the 1st payment in the amount coincided with my calculation and with your calculator; but the next payment is 1000 rubles more. When I turned to the operator, I received a response that until I repay the full amount, half the price will increase every month! How is this generally possible? Then it’s not 30% per annum, but many times more ...
Svetlana, if you have a credit card issued at the RNKB with the Standard tariff plan, then interest on the use of credit funds is set at 30% per annum. There is no question of any progressive interest rate, that is, increasing in size over time. Most likely, either the consultant was not quite competent, or you did not quite correctly understand the information voiced.
Ilya
Question about Sberbank credit card: 1. The reporting period on October 2, decided to purchase 10, letting 20,000 p. 2. October 15, made another purchase for 2000 p. 3. On October 20, they put 2000 thousand on the card (paid off the debt of 2 thousand rubles) The amount of the debt and the minimum payment will be calculated on the basis of only 20 thousand rubles or 20 thousand rubles + 2 thousand rubles? Will a repayment of 2 thousand be considered liquidation of the debt under clause 2?
Ilya, if the 2nd day is the date of the report on your card, then all transactions made between October 2 and November 2 will fall into the current billing period. Thus, the amount of your debt will include a purchase for October 10 and 15.
Please note that when depositing money to the card, there is no debt repayment for any specific operation (non-cash payment of goods and services or cash withdrawals, for example), but simply the credit limit is restored for the amount deposited, that is, it becomes available again 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 even if its conditions are not fulfilled, pay interest in the next payment period, which is calculated using a complex formula, including the exact number of days, during which you used a particular amount of borrowed funds.
The amount of the obligatory minimum payment will be 5% of the amount of debt as of the date of 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.
On our site you will be helped to understand this topic.
alexander
Good day, I have a Sberbank credit card for 30,000 withdrew 26,000 from her. SMS came the minimum payment of 880 rubles, I paid 1200, but only 1000 came to the account, before that it was already like this, they didn’t really explain where the 200 rubles went from the bodies of Sberbank?
Alexander, as a rule, such situations arise when a commission or interest for using credit funds has already been accrued on the card. In this case, the required amount is debited automatically when replenishing the card account, which reduces the amount available for further use.
You can see detailed information in the extract on your card, for example, having formed it through Sberbank Online or by personal appeal to a Bank branch.
Ekaterina
Good afternoon! I would like to receive help in calculating the amount of payment. Sberbank credit card, limit of 50 thousand, settlement period 01 of the day, the card is empty now. How can I replenish it further with minimum payments? And when the interest is charged for using the card
Ekaterina, you can repay the credit debt on the card with the amounts of at least the minimum required 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 tariff plan set for your card for the actually spent amount on the date the card report is generated.
Our site has a very convenient service for calculating the monthly payment. When you select a bank, the name of your card, and also enter the amount of the spent credit limit, a monthly payment schedule will appear on the screen with a breakdown of the amount to pay the principal and interest for using the card limit, which you can use when planning future expenses.
Please note that each month the Bank will send an SMS message to your mobile phone containing the amount and date of the mandatory 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 minimum payment line is, it turns out, my debt ?? Since I threw 1000 rubles onto the card, the SMS notification about the funds received was canceled, but they immediately went to the minimum payment (the amount was 1000 r more). Total available: 591.84 RUR; Overdue debt: 0.00 RUR; Minimum payment: 3 412.95 RUR; repay 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; Amount of payment in the grace period: 47 356.50 RUR until 25.12 .2016
Margarita, for the correct use of a credit card, you must monthly pay the amount of at least the required monthly payment (you have 3412.95), which is 5% of the total amount of credit card plus interest and commissions accrued by the Bank (if any). That is, after making 1000 rubles, you need to make another difference by 12.25 (2412.95).
In this case, based on the numbers you cited, the amount of available credit limit, that is, funds that you can use at the current time, is 594.84 rubles, respectively, the total amount of debt on the card - 49693.29.
Also, if you plan to use the grace period of the loan and not pay for the use of credit funds, then by 25.12 you need to deposit 47356.50r on the card.
Anastasia
Good afternoon!
Please help with the calculations. There is a card with a limit of 25000r. The beginning of the reporting period is the 13th day of each month. On October 25, a purchase was made for the entire amount of the limit. Until December 3 there was a grace period with a mandatory payment in the amount of 1249.95 rubles. On November 23, a payment of 2,000 rubles was made. Then, on December 10, the amount of 4000 rubles was also paid. A report on the card was generated on December 12, 13 a new billing period began. On the 13th I want to completely pay off the debt on the card. If in the reporting period, i.e. until the 12th day) to close the debt in full, the grace period is updated from the 13th. And if full payment happens on the first day of the new reporting period, does the grace period burn out?
Anastasia, in order to take advantage of the grace period of the loan, you had to pay off the entire amount of debt on the card until December 3. Now you can use the funds on the card within the available balance of the credit limit, but interest will be accrued on the amount spent in the previous reporting period. And in order to take advantage of the again interest-free lending period, you need to pay off all accumulated debt on your card until January 3.
Please note that the date of the report (if you have a Sberbank card) is included in the current billing period and is its last day, so you only have 20 days to pay off this amount - that is, this is the most disadvantageous option.
By concluding a loan agreement, you always get a payment schedule that you must follow. Its violation will lead to the fact that the bank will apply penalties to you, which are also prescribed in the loan agreement. The borrower undertakes to make a monthly loan payment on time and in full.
Only now, at the conclusion of a loan agreement, the manager is in no hurry to talk in detail about the payment scheme, hoping that the borrower will deal with everything. And if the manager talks about the payment procedure, the borrower does not really listen to him, wanting to quickly complete the process of signing papers and get his money.
All this leads to the fact that the borrower inadvertently may violate the payment schedule, as a result, the bank will impose a fine on him and may put the fact of late payment into the credit history. So we’ll figure out how to make monthly loan payments.
We study the payment schedule
It is necessarily attached to the loan agreement. You will receive the basic information on payments from this document, therefore, take care of its safety until the loan debt is completely closed.
The payment schedule is a table that reflects all aspects of the loan repayment. Initially, this schedule may seem like a set of numbers, but if you study it more carefully, you can get comprehensive information about paying off your loan.
A graph consists of columns and rows. Lines - this is every month of the life of the loan. For how many months you took a loan, so much time will be on schedule.
The graph contains the following columns:
1. The serial number of the month of life of the loan.
2. The amount of the monthly payment. By default, banks use an annuity payment scheme, so the amount of the monthly payment is always the same.
3. Explanation of the monthly payment: how much is spent on interest, how much to pay off the main debt.
4. The remaining loan debt or the amount for early repayment.
Withdrawal date: borrowers main mistake
The payment schedule indicates the date the funds were debited. On this date, the money should already be in the credit account. At the end of the day, the system automatically deducts funds from the account in the amount of the monthly payment indicated in the 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, the monthly payment will be considered overdue.
Borrowers are often mistaken in believing that the date indicates the day on which the payment should be made. They wait until the last, pay the loan on the date of write-off, and then they are surprised at the claims of the bank and the fines imposed. On the date of debiting, money should already be in the account. Keep in mind that the payment is not executed immediately, the terms of the transfer depend on the method of repayment of loans you used.
Methods of making a payment and terms of its crediting
Usually, when signing a loan agreement, the borrower is told what methods he can pay off the debt, often a paper with a description of the methods is put in the package of documents. You can use any, but take into account the time of crediting funds.
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 a loan by this method can you deposit money on the date of debiting.
2. Cash of a 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 now the post office has accelerated the time for transferring funds, still banks recommend making payments 7 days before the date of debiting.
4. Salons Svyaznoy, Euroset, MTS. Money is transferred within three days.
5. Terminals Qiwi, Eleksnet. Payment transfer will also last up to three days.
Payment Fees
Without charging fees, you will be charged only at the bank that issued the loan, in other cases, a commission is provided for the intermediary who accepts and makes payments.
Most often, the size of the commission 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 fee amount.
If you deposit more than indicated in the schedule
The schedule indicates the required monthly payment, which you must pay each month to your credit account. You cannot pay less than this amount, but more - no problem.
But keep in mind that the bank will only write off only the amount indicated in the schedule, the rest of the money will simply remain on your credit account. And next time you can deposit less, given that part of the money remained on the credit account.
If you wish to contribute more, then fill out a partial early repayment. Each time before making a payment, contact the bank and write a statement indicating the amount 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 decrease in overpayment. The bank can calculate the monthly payment in the direction of its reduction, leaving the loan term unchanged. Or the payment will remain the same, but the loan term will be reduced due to partial repayment of credit debt.