The main disadvantages and advantages of early loan repayment. Early repayment: mini-instructions

Today there is hardly a person in the country who does not have a single valid loan. Taking into account (the fall and instability of the population’s earnings - in particular) early repayment of the loan - good way improve the state of the family budget. What it is? how to do it correctly? and is there any need to rush to pay off the debt?

What it is

IN in this case What is called, what is heard, means. Early repayment of a loan is a full or partial payment of debt under a loan agreement before its expiration date.

If we speak in relation to a simple, or, then each such agreement clearly states in the main text that the funds are provided until a certain date, that is, upon the arrival of this date, the borrower must fully repay both the principal debt and the interest due for its use. Accordingly, if you fully repay your obligations to the bank before this date, this will constitute early repayment.

In addition to the final date of the loan agreement, there is also a debt repayment schedule - a plate that states on what date and how much amount you must repay. If you do not have the opportunity to fully pay off the entire balance of the debt, you can make more than the next payment according to the schedule - in this case, partial early repayment will occur.

Restrictions

The first myth is that the bank can prohibit such fraud. This is wrong. Both the Civil Code and the banking legislation on bank lending clearly state that the bank does not have the right to prohibit you from repaying the debt in advance. Moreover, this rule applies to contracts executed recently and to loans received before these amendments entered into force.

Myth two: the bank may charge a commission. NO! Arbitrage practice and the explanations of the “protecting citizens” bodies clearly prohibit banks from charging commissions, fines and other penalties for early repayment, even – attention – if such are specified in the text of the loan agreement. What does it mean?

Let’s say you took out a loan a long time ago, when banks “prudently” included in the text of the agreement a direct obligation for the borrower to pay a fee for early repayment of the debt. It is this part of the document that is considered invalid - and if the bank still charges you such a commission, a fine or something else - judicial procedure you will easily return the commission paid, and the bank will be fined for violating the law. So, most likely, banks will not charge you such a commission.

The only thing they can do within current law- this is to require a written notification to the bank of your intention 30 days in advance. This figure is now spelled out in the Civil Code, but I don’t see anything critical in waiting a month and then paying off the debt. Most main point– the requirement to notify the bank of the intention to repay the loan must be clearly stated in the same agreement. So, if you do not have such an obligation - you can safely repay the loan ahead of schedule at any time - the provisions of the Civil Code on a thirty-day deferment in this case do not automatically apply to your agreement.

Procedure

So, you have decided to pay off your debt in advance.

If you are planning to partially pay off your debt, this is where the fun begins! In theory, if the amount of the principal debt has decreased, then the interest on the use of funds should also decrease - that is, the bank must redo the payment schedule under the agreement.

In reality, everything is not so trivial. There are three possible scenarios.

A) the bank will recalculate the payment schedule - this perfect option. The most important thing is that the new schedule be drawn up as an additional agreement to the contract and signed by the bank. Only this way and no other way - no verbal agreements with the operator like “you can pay less now.”

B) the bank will not change anything - you will be offered to continue paying according to the payment schedule in the same amounts, you will just finish paying the loan earlier. Not good a good option– there will be an overpayment of interest.

In the case of a mortgage, this option will not work - the payment schedule, as an integral part of the loan agreement, is registered together with the collateral agreement at the registration chamber. Accordingly, the deposit from the apartment will not be removed until you comply with the payment schedule! So replacing the payment schedule and its subsequent registration with the registration chamber is mandatory.

Step 4. In case of full early repayment of the loan, be sure to obtain a certificate from the bank stating that you have fully repaid the debt, serviced it well, and the bank has no claims against you. Just in case. It will come in handy.

Step 5 (optional). After a month or two, ask the BKI for your characteristics - and.

The most important point for any early debt closure! If you have compulsory insurance(personal or property) - carefully study both the loan agreement and the insurance agreement for the purpose of recalculating the amount of the next insurance premium.

Conditions

At the time of writing, almost all the banks considered by the author had quite acceptable conditions for early repayment of newly issued loans. None of them had any fines or fees - no other financial “infringement of the borrower.”

Sberbank allows this procedure for all loans to individuals (both for simple needs and for mortgages), either in full or in part in any amount. The only declared condition is to submit a notification application indicating the date and account number from which the payment will be made. The only mandatory condition is that the date of the operation must be a working day. So everything is logical and within the law.

Similar conditions apply to mortgages.

VTB24 also has a notification procedure for all consumer loans. All you need to do is fill out an application at the bank office one day before payment - not such an impossible requirement. Full early repayment is possible on any day following the date of registration of such an application (that is, if something doesn’t work out for you, it’s okay - you have time before the loan load is removed from you).

With partial repayment, everything is somewhat more complicated - you can pay “ahead of schedule” only on the dates of the next scheduled payments (which, in general, does not contradict current legislation). But here minimum amount limited individual conditions agreement.

But VTB24 has a “trick” - with each partial early repayment, you can choose: either reduce the term of the contract, or reduce the amount of subsequent monthly payments - in any case, the bank will recalculate your payment schedule.

At HomeCredit Bank, the procedure (whether complete or partial) is as simple as that: you don’t need to write any statements - you have additional funds to pay off the debt - you place it in an account for repayment - on the same day the bank writes off the “extra” funds to debt payment account.

Alfabank allows early partial or full repayment of all its issued loans on similar terms. To completely close the debt, you do not need to write any statements - just check the remaining amount by phone and pay required amount funds to the account (by the way, this can be done without visiting the bank office - through an ATM).

To make a partial payment, you must write an application in advance and deposit additional funds into the loan repayment account on the date specified in the schedule for the next payment.

Is it profitable to do this?

From the borrower's point of view - my personal opinion - absolutely yes. In the current economic instability, the sooner you get rid of debt, the better. BUT, I emphasize, this is the personal opinion of the author.

Is this beneficial for banks? at the time of writing - yes - banks are experiencing a liquidity shortage, so they really need an additional influx of money.

The only time a borrower can be looked at askance is when, for example, you took out a loan to purchase goods in a store for 10 months, and repaid it a month later. Banks “don’t really like” such borrowers and may add them to the list of “undesirable clients” - that is, then this particular bank may refuse to issue a new loan. But not a fact.

So it’s up to you to decide: either spend your “free money” to reduce your debt burden, or spend it on the “joys of life.” There is no point in saving and saving on deposits - deposit rates are oh so far from loan rates.

Many borrowers try to repay the loan ahead of schedule, because in some cases this can significantly reduce the overpayment. According to legislative amendments approved in 2011, banks are prohibited from interfering with the early repayment of debt in any way - in particular, by levying fines or establishing a moratorium. However, some banks get around these restrictions by setting a fairly high minimum payment amount. Lawyers and bank representatives spoke about the most common mistakes that borrowers make when repaying a loan early.

Mistake number one. “My job is to deposit money, and the bank will sort it out”

A borrower who intends to repay the loan early must not only accumulate a sufficient amount, but also write a corresponding application in free form. As explains Chairman of the Board of Private Limited Liability Company for the protection of consumer rights "Sovetnik" Vyacheslav Kurilin, in the application it is important to indicate the amount of early repayment and the date of the transaction. The fact is that, in accordance with Russian legislation, the borrower actually has the right to repay the loan at any time, without the bank’s consent, but he is obliged to notify the financial institution at least 30 days before the date of the transaction. In addition, most banks have their own requirements for the minimum notice period for early loan repayment, which are specified in the loan agreement. It is worth noting that often employees of a credit institution deliberately recommend that borrowers not write a corresponding application, trusting them at their word - and this always backfires on the borrower.

According to Andrey Stikhin, manager of the Chelyabinsk branch of UniCredit Bank, some borrowers, based on the payment schedule, independently determine the amount of early repayment of the loan and transfer money to the account, without notifying the financial institution. “Customers do not notify the bank that this is an early repayment, but simply pay an increased amount of the monthly payment. Without notification from the borrower, the bank does not consider this an early repayment; the funds are simply written off monthly to repay the loan, but the amount/term of the loan does not change. This is important to understand,” he says. In addition, in case of full repayment of the loan, the borrower needs to sign a notice of early repayment; in case of partial repayment, an additional agreement to the contract, since in the latter case the size of the monthly payment also changes.

Mistake number two. “It seems that this amount should be enough”

A common mistake when repaying a loan early is the incorrectly calculated amount. “The amount for full early repayment of the loan must be calculated by a bank employee. The borrower can always find out the required amount by calling hotline jar. This amount must be credited to the client’s account in full and on the date specified in the repayment schedule. After making a full early repayment, it is recommended to call the bank and clarify whether the agreement is closed or not,” comments Head of the non-targeted lending department of Home Credit Bank Tatyana Arzumanova.

“There is a known case when the borrower decided to repay the loan ahead of schedule and deposited all the money into an account from which the amount of the next payment was automatically debited every month. But a few days before the write-off date, to be completely sure, she decided to check the balance to make sure there was Money on account. For this service, the bank wrote off 15 rubles from her account. Accordingly, on the day of write-off, 15 rubles were not enough to fully repay the debt, and the bank did not make an early repayment, but wrote off the principal amount of the debt and interest monthly for two years. And when the money in the account ran out, the bank informed the discouraged borrower about the accumulated debt and arrears,” says Vyacheslav Kurilin and adds that the consumer must independently clearly monitor the timing of debiting funds and their availability in the bank account.

Mistake number three. “The bank always correctly calculates the overpayment”

Often, banks, when repaying a loan early, reduce only the amount of debt on the principal debt, while continuing to charge the borrower interest on the entire initially provided loan amount. “For example, a person took out 200,000 rubles on credit, and after some time he decided to repay one hundred thousand ahead of schedule,” explains Vyacheslav Kurilin. - However, when repaying the loan, the bank withholds interest from the borrower based on the original loan amount - 200,000 rubles, which is prohibited by law. Interest should be calculated only on the amount of debt in reporting period", says the expert.

According to him, a number of banks even practice the appearance of early or partial repayment, telling the borrower not the amount of the principal debt for the current day, but the total amount of debt, including interest accrued for the entire period. It is quite simple to prevent yourself from paying extra interest: you need to ask the bank employee to name only the amount of the principal debt. “The bank charges interest only on the balance of the debt, therefore, as the principal debt decreases, interest payments for using the loan also decrease. Accordingly, the earlier the repayment is completed, the less the overpayment on the loan,” explains head of lending department individuals"VUZ-Bank" Olga Gorlova.

Mistake number four. “We need to pay off everything at once - both the loan and late fees”

As Lyubov Panova, deputy regional director for retail business development at the Promsvyazbank office in Chelyabinsk, explains, refinancing gives the borrower the opportunity to apply for a new loan on more favorable terms in order to repay the old one. It should be noted that in this situation, borrowers are advised to remember a simple rule - when repaying an old loan, you need to make sure that the deposited amount is used primarily to repay the principal and interest on it, and not as a late fee. It will be possible to pay off the penalty on the old loan after some time, since after the loan is repaid, the amount of the fine will no longer increase.

In addition, the resulting loan penalty can later be significantly reduced as a result of litigation with the bank. “According to Art. 333 of the Civil Code of the Russian Federation, there is a possibility of reducing the penalty if the borrower had really good reasons for delaying loan payments - for example, loss of a job,” notes Lyubov Panova.

Mistake number five. " Early repayment a loan is always profitable"

According to Vyacheslav Kurilin, in fact, it is economically profitable to repay a loan ahead of schedule with annuity payments (that is, with equal monthly payments) only in the first half of the term, since in this case the borrower enormously reduces the amount of overpaid interest. “If the loan term has already exceeded half, then there is no point in repaying the loan early, because the person has already paid almost all the interest for using the loan. This is due to the annuity payment system, when the first monthly payments include interest for the last months of using bank funds,” the expert sums up.

Probably every borrower used the right to repay the debt early, perhaps not completely, but partially. After all, a loan is a certain burden on family budget, so everyone wants to get rid of this burden as quickly as possible. But in addition to the personal benefit of quickly getting rid of debt obligations, using this method is also financially beneficial.

In Russia, the most popular annuity debt repayment scheme for issued loans is the most popular in the banking system. According to this scheme, monthly payments are fixed for the entire payment period and do not change. The payment itself consists of two parts: interest and the “body of the loan”. Read more about what this debt repayment scheme is in this article.

In the first months or years (depending on the term), the borrower mainly pays off interest, since payments are formed in such a way that interest makes up a large part, and by the end of the payment period this part becomes smaller. When paying early, the client pays interest only for the time he used the borrowed funds. About the features of repayment of the contract ahead of schedule specified in the contract, we speak at this link.

On the other side of the barricades stands banking system, for which repayment of the loan is not profitable, in addition to the fact that banks lose part of their profits due to interest, they also have to rebuild their loan portfolio. Therefore, banks are trying to complicate the structure of early repayment of loans.

• Firstly, the contract may specify a minimum amount. Usually this figure is not so small, which reduces the number of people wishing to repay the debt ahead of schedule. Read about how the minimum contribution amount is set.
• Secondly, there is a moratorium on payments ahead of schedule . This is the period during which, after the payment of money, the borrower cannot exercise the right. More precisely, you can deposit the amount, but it will be accompanied by additional fines.
• Thirdly, it is mandatory to notify the bank of the borrower’s desire to repay the loan early 30 days before the expected payment date. Despite this requirement, consent from the bank is not required. By law, any client has the right to repay the debt ahead of schedule. This law came out in 2011.

If the client does not indicate his intention, the bank will continue to write off payment amounts as before, and when there is not enough money in the account, fines and penalties will apply. This can negatively affect the client's credit history, read more about this.

All these nuances should be taken into account when drawing up a contract and be sure to study it for the presence of these points so that no difficulties arise.

In case of full payment ahead of schedule, the client should ask the bank for a certificate stating that the borrower’s debt obligations have been completely closed. Otherwise, a situation may arise where debt may accumulate on the client’s account. More information How to act more profitably if you want to close the contract ahead of schedule is described in this article.

In case of partial repayment, the client may have two options to choose from: reducing the monthly payment or reducing the loan term. It all depends on the bank and the loan agreement. In this case, reducing the monthly payment will be slightly more profitable. You will receive more information on how to make partial early loan repayments

Without fail, each loan agreement has a strictly specified period for repayment of the debt by the borrower. It cannot be increased without the consent of the bank, but if desired, it can be reduced, which will allow you to get rid of additional financial burden. The conditions for early repayment are usually specified in the contract.

Penalties for early debt closure

In Russia Since 2011, the law has established the right of citizens to repay the loan ahead of schedule in whole or in part without the accrual of fines and penalties, provided that the bank is notified of making unscheduled payments no later than 30 days in advance. In the contract, the fine may appear as a commission or settlement and cash fees for early payment of funds, which does not change its essence. If in an agreement with Russian bank such clauses are provided - this is illegal, and you can refuse payment and even sue.

In Ukraine and Belarus There is no such possibility, and citizens of these countries may be subject to payment of fines and penalties for early repayment of debt. On the other hand, these fines may be less than the final overpayment on the loan, which should be calculated in advance by the borrower himself. On average, for banks, the penalty for early repayment of debt ranges from 2% to 5% of the total amount of unscheduled repayment.

Example 1: You received a loan for 100,000 conventional units for 24 months at a rate of 18% per annum. The total amount of the overpayment is 19817.84 conventional units. If you repay early within 12 months, you overpay only 10,015.99 conventional units, receiving a savings of 9,801.85 conventional units. The loan balance at the time of the 13th payment is 54454.74 conventional units. If the fine is 3% of the deposited amount, its amount will be only 1633.64 conventional units, which is almost 6 times less than the possible overpayment.

Full and partial repayment of debt

There are two types of payment schedules for a bank loan:

1. differentiated (interest is calculated based on the amount of the debt balance)
2. annuity (equal payments)

With a full unscheduled repayment of funds for both types of loans, you will be able to receive a refund of both interest and insurance (if it is paid).

If you make partial early repayment of the loan, with a differentiated scheme you will reduce the size of subsequent payments by reducing the loan body. In this case, the bank will have to provide you with a new payment schedule.

Example 2: You received a loan for 100,000 rubles for 24 months at a rate of 15%. Monthly payments consist of a principal payment of 4166.7 plus interest on the balance of the debt. Having paid 12 payments, the amount of debt amounted to 50,000 rubles. Instead of making another payment, you decided to repay the loan early by paying 25,000 rubles. The bank recalculates the schedule for the remaining amount of 25,000 rubles for a period of 12 months. Wherein monthly payments will amount to 2083.33 plus interest on the remaining debt. The percentage savings in this case is 3,750 rubles.

With an annuity schedule you reduce the refund period. In this case, the bank can provide two options:

1. final repayment (credited to the last payments)
2. consecutive payments (advance payment for the coming month)

Most often, banks provide for the repayment of final payments, since with an annuity scheme most of them are the body of the loan, while the bulk of the interest is paid at the beginning. In this way, the bank minimizes the loss of its profits.

Example 3: You received a loan for 10,000 rubles at 15% with a repayment period of 12 months. Interest paid for the first half of the year amounted to 6,016.71 rubles. Instead of the standard payment of 9025.83, you decided to pay three times the amount (allowed by the terms of the contract). In this case, the savings on interest payments will be 663.09 rubles (interest for the last three payments).

How banks can prevent early payments

A consumer loan is characterized by a fairly wide range of amounts and options for obtaining a loan, which creates additional circumstances in case of early repayment. So long-term loans(for example, a mortgage or car loan) may have a moratorium on debt repayment for a certain period (from several months to 3 years). In addition, banks can include in the contract a restriction on the amount of early payment, for example, in an amount equal to three monthly payments.

Such actions on the part of banks, including the territory of the Russian Federation, are completely legal, since the state ban is imposed only in relation to fines. They will be illegal if the contract stipulates other conditions.

On short-term loans secured by property, banks can introduce restrictions on partial early repayment, completely prohibiting it, which will be stated in the agreement. In turn, consumer loans in the format credit cards, as a rule, do not have restrictions on exceeding the minimum payment, since in this case the bank’s profit is formed due to constant turnover and payment service accounts.

Negative aspects of early loan repayment

The bank’s attitude towards the borrower is affected by any violation of the payment schedule. Early repayment is unprofitable for banks, and they may add you to a secret list of clients with low level profitability. In this case, you may be provided next loan at a higher interest rate or refuse lending altogether.

Early payments may be unprofitable if your goal is to reduce your financial burden in the near future, and the bank provides the possibility of repaying only final payments.

If you receive a targeted interest-free loan (installment plan), when your payments are actually equal to the cost of the goods in the store, early repayment will also not be rational. If you follow the schedule, due to inflation in commodity equivalent, your final payments will be less. This advantage is offset by early repayment.

Example 4: You received a loan in the amount of 120,000 rubles for 24 months under an installment agreement at a 0% rate. Within 12 months, you have repaid half of the loan and you have 60,000 rubles left to deposit. Considering the inflation rate in the Russian Federation for 2016 was 5.38%, in commodity equivalent you saved 3,228 rubles. Continuing to repay the loan according to the payment schedule, the total amount of actual savings will be 6,456 rubles.

You've probably heard about partial early repayment of loan debt, but don't know what benefits it promises and what it is intended for? Do you want to save on interest and not pay a huge overpayment on the loan? In this article we will discuss in detail the issue of early loan repayments - and the advantages they give to the borrower.

Is it beneficial for the borrower?

Bankers don't like late loans- you probably know this from the news. One has only to listen to what measures are being taken in relation to borrowers who are in arrears.

But for many, an unpleasant discovery will be the fact that early closure of a loan - seemingly interesting to the lender - is not particularly welcomed by most of them. And it seems like it should be the other way around, but for some reason there are certain conventions and difficulties in the matter of quickly paying off debt.

Let's figure out why this happens.

There are two standard circuits loan payments: and differentiated. With the first method, most of the contribution goes to pay interest, and the principal debt is repaid insignificantly. With the second method, the payment amount is divided equally between paying interest and covering the principal debt.

When a partial deposit is made beyond the required amount, the money is used to cover the principal portion of the debt (the original loan amount). Let's look at an example of what this looks like.

Example: you have a consumer loan from Sberbank in the amount of 150 thousand rubles, issued for five years. The payment scheme is annuity. The rate for the use of funds is 23.9% per year.

Every month you pay 4,315 rubles under the agreement. The total debt is 266 thousand rubles, of which the overpayment for the use of funds is 116 thousand.

You paid regularly for four months, then unexpectedly received a large bonus. And you now have an additional 70 thousand rubles, which you can contribute to the debt.

The debt at the time of the advance payment was 240 thousand rubles. After receiving 70 thousand rubles, the creditor recalculates the current debt, since these funds cover the principal debt (150 thousand) and do not go to pay interest.

Thus, the amount of debt is reduced and interest is recalculated– as a result, the total overpayment on the loan decreases. If next time you have free cash, you can also use it for an early payment - as a result, the loan will become more profitable, and you will pay the lender much faster.

Therefore, the answer to the question of whether it is profitable to use this method is clear - it is profitable. Especially for those who pay not a consumer loan, but a mortgage loan.

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