Often, bank customers, paying off loans, are forced to give amounts that exceed those they expected at the beginning. This is because credit organizations include in the final amount the cost of services that are not mandatory due to the requirements of the law. Let's figure out how not to overpay when getting a loan.
How is the bank interest rate formed and what determines its size?
The main expenses of the borrower will be related to bank interest. This is the amount that must be paid to a credit institution for the use of the funds provided.
There are clear patterns in the formation of the bank interest rate, which are the same for all credit institutions. Understanding them will allow you to make a decision on whether to take a loan, assess the profitability of the project and possible risks.
The bank interest rate is based on the key rate of the Central Bank. Let us explain: the Central Bank is the main creditor for all credit institutions, i.e. he gives them money on credit at a certain percentage. This percentage is the key rate. It was adopted by the Bank of Russia on September 13, 2013. From December 17, 2018, its amount is 7.75% 1 .
Since it is unprofitable for credit institutions to issue loans to the population at interest rates less than or equal to the key rate, they charge additional interest, the amount of which depends on many factors. So, for example, for a borrower, a large loan will be cheaper than a small one, and a short-term loan without collateral will always be more expensive than a long-term loan with real estate collateral.
Does the law limit the interest rate on loans?
In order to lend to legal entities and individual entrepreneurs, the legislator does not limit the maximum interest rate. It is determined by market conditions. As practice shows, credit organizations are guided by the offers of competitors and try to provide customers with the most convenient conditions.
In the retail lending market, the situation is different. This is especially true of the microcredit market, which is taken for a short period of time. In this case, the speed of issuing a loan for the borrower comes to the fore, which is what unscrupulous microfinance organizations use by setting very high interest rates. As a result, by the time the loan is repaid, the amount of interest exceeds it at times.
The way out was the adoption of a law 2 that establishes limits on the marginal interest rate for individuals. From January 28, 2019, the maximum interest rate cannot exceed 1.5% per day, and from July 1, 2019 - 1%.
Remember: in order not to fall into the hands of unscrupulous creditors, you must definitely pay attention to the value of the full loan rate (indicated in the upper right corner of the first sheet) and its compliance with all payments indicated in the contract. If something is in doubt, it is better to refuse a loan.
Is it necessary to open a bank account when receiving a loan?
One of the standard requirements put forward by banks when concluding loan agreements concerns the opening and maintenance of a borrower's bank account. This is necessary for issuing a loan by transferring the bank's funds to an account opened for the borrower, for crediting and debiting the borrower's funds.
Moreover, if individuals have the right to receive credit funds both in cash and in non-cash form, then legal entities are required to carry out all settlements only in non-cash form. That is, there is simply no alternative to issuing a loan by crediting funds to a bank account.
At the same time, sometimes credit organizations issue a loan only on condition of payment for the services of opening and maintaining an account.
Do individuals have to pay to open and maintain an account?
In addition to bank interest, credit organizations often include additional financial conditions in the cost of the loan, called commissions for certain actions.
The list of possible commissions is varied, one of them is the commission for opening and maintaining an account. In order to understand how legal this requirement of the bank is, borrowers must again be divided into two categories - individuals and legal entities.
For individuals, this issue is regulated by law. If the terms of the consumer credit (loan) agreement provide for the opening of a bank account for the borrower, then all operations on it, including opening such an account and transferring a credit (loan) to it, must be carried out by the lender free of charge 3 .
Thus, there is a direct ban on charging an individual a fee for opening and maintaining a loan account. This conclusion is confirmed by judicial practice, which is developing in favor of consumers 4 .
Do legal entities and individual entrepreneurs have to pay a commission for opening and maintaining an account?
With legal entities and individual entrepreneurs, everything is more complicated. There is no direct legislative prohibition on the establishment of such a commission.
However, the terms of the contract are determined at the discretion of the parties 5 . And the commission fee for banking operations is set by the credit institution by agreement with the client 6 . In other words, the agreements of the parties on this issue, enshrined in the contract, are of priority importance. That is why you should carefully study the text of the loan agreement when signing it.
The situation regarding loan accounts, ie. those that are opened when issuing loans, explained the Central Bank 7 . The Bank of Russia indicated that loan accounts are used only to reflect in the balance sheet of the bank education and repayment of loan debt, i.e. operations to provide borrowers with and return funds in accordance with the concluded loan agreements (Bulletin of the Bank of Russia, 2003, No. 50).
Thus, the bank's actions to open and maintain a loan account cannot be qualified as an independent banking service, since when a loan is granted, such an account is opened by the bank automatically. Therefore, the commission for opening and maintaining a loan account cannot be charged by the bank.
Another thing is the commission for opening and maintaining a current account of the client, on which he has the right to perform various operations.
So, more often the courts refuse to satisfy the requirements of borrowers for the return of the amount of the paid commission. In such cases, the courts refer to the fact that there are no restrictions on the collection of commissions for bank operations under a loan agreement in the law. At the same time, the parties actually agreed to include the amount of the commission in the cost of the loan 8 .
What other financial conditions for lending can the bank set and is it legal?
In addition to the commission for opening and maintaining an account, credit organizations may include other types of commissions in the terms of the loan agreement, for example, for issuing a loan, for its early repayment, and others. Due to the established judicial practice, in some cases such commissions can be recognized as illegal. Especially if it is proposed to pay them to a citizen, and not to a legal entity.
Please note: for individuals, banks are required to indicate in the contract the full amount of the loan, including all expenses. But for individual entrepreneurs and legal entities there is no such requirement. In this regard, additional financial terms of lending are often contained in the text of the agreement and are not taken out in a separate field, they are not summed up with the amount of interest.
How to avoid unexpected additional costs?
The main thing is to carefully study the terms of the loan agreement at the stage of its signing.
Often, the contract makes reference to standard conditions that are established by the credit institution and apply to all borrowers. It may contain important conditions on the procedure and terms for calculating commissions, penalties, etc. Therefore, these provisions cannot be ignored.
For individuals, the main value is the "total cost of the loan" (TCC) - the amount that must be indicated in the upper right corner of the first sheet of the loan agreement.
A credit institution is obliged to include in the CPS all amounts of payments payable in connection with the issuance of a loan. It is easy to understand from the value of the UCS what additional payments were included in the contract, even if the client was not informed about this. The non-inclusion of a separate amount in the CPS is the basis for filing a complaint with the authorized state bodies.
For legal entities, the value of PSK is not legally fixed. Therefore, when concluding a loan agreement, it is necessary to stipulate all the amounts payable separately. A credit institution can meet the client halfway and change some terms of the contract, including commissions. Otherwise, you should contact a bank that offers acceptable conditions.
How to get back overpaid money?
A loan agreement concluded with an individual is an accession agreement. This means that the terms of such an agreement are determined by the bank, and the borrower accepts them by joining the agreement. Consequently, a citizen cannot influence some of the conditions. Therefore, in the event that an agreement is concluded on unfavorable terms, including in terms of commissions, a citizen can apply to Rospotrebnadzor, the prosecutor's office or the court for the protection of their violated rights. There is a positive judicial practice when the courts take the side of the consumer and collect from credit institutions the amount of unreasonably charged commissions.
0 Comments
esiteranking@gmail.com