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19.11.2021

Examples of calculating the total cost of a consumer loan. Full cost of the loan - formula, calculation procedure

What is the total cost of a loan? Why is this indicator needed? What costs are included in the calculation? Is it possible to calculate the UCS value on my own and how to do it correctly? Why in most cases the calculation will be wrong? These and many other questions are answered in this article.

If the name of the organization (for example, an appraisal office) is written in the contract, then the calculation will be made according to the tariffs of this organization.

It happens that the contract provides for several third parties. For example, insurers with a choice. Then the calculation will be based on the tariffs of one of them.

If the range of insurers is not limited to the bank, then the tariffs of ANY insurance organization known at the time of calculation are used.

That is, the value of the indicator written in the contract will be approximate!

Important! The bank must disclose information about the insurance company, according to the tariffs of which the calculation is made. Also, the bank is obliged to indicate that when drawing up an agreement with another insurer, the value of the TIC will be different.

When accounting for insurance premiums in the TIC indicator, inaccuracy may also be associated with other features of the calculation.

The law allows (clause 5, article 4 in the comments of the Consultant) to calculate the cost of third-party services at the company's rates without taking into account the personal characteristics of the borrower.

For example, for auto insurance without taking into account the age or driving experience and features of the car (performance, brand, year of manufacture).

Then the bank is obliged to notify the borrower about it.

When determining the value of PSK, the tariffs in force at the time of calculation are used. They may change in the future. Then the PSK in the contract will differ from the actual one.

6 The price of insurance, when NOT the borrower and NOT his relative receive compensation for the insured event.

For example, the PIC will include life and health insurance for the amount of the loan, if upon occurrence insured event, will be received not by the borrower, but by the bank to repay the loan.

7 Insurance, if it specifies the terms of the loan. Including terms, rates and amounts.

For example, Gazprombank on consumer loans indicates that the interest rate increases by 0.5 percentage points if there is no insurance contract or its validity is terminated. The bank is obliged to take into account this insurance.

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What does the bank not take into account when calculating TIC?

1 Payments are required by law.

For example, OSAGO is not taken into account in the calculation.

2 Payments in case of breach of contract by the borrower.

For example, penalty for late payment. Moreover, it is impossible to determine in advance whether the borrower will pay on time or late.

3 Payments dependent on the decisions of the borrower. They must be related to the loan and stipulated by the contract.

For example, cashout fee or early payment fee.

4 The price of collateral insurance, for example, CASCO.

5 Insurances with conditions:

  • insurance does not affect credit decision bank and the price of the loan;
  • the borrower receives additional benefits from these services (for example, with a car loan, the rate for life insurance is different from such a rate without a loan);
  • within 14 days, the borrower can refuse these services.

For example: if the borrower's life and health insurance for a car loan meets these conditions, the bank MAY not add insurance to the calculation.

Important. These exceptions allow banks to vary the terms of loans so as not to take into account insurance.

What is really going on? What do Sberbank and Alfabank take into account in the PSK?

The law provides general provisions and does not give instructions on the inclusion in the calculation of each specific insurance or other additional payment. This gives rise to various interpretations and allows creditors to consider how it is more profitable for them.

The law provides for many exceptions, which also plays into the hands of bankers.

In addition, bankers sometimes do not know how to correctly interpret the article of the law. This is evidenced by requests to the Central Bank from their side asking for clarification.

Click on the picture to enlarge

If the actions of the bank are legal, but not all payments are taken into account in the calculation, there is no point in complaining and writing statements. It is important to understand that your loan is associated with certain expenses. They may not be included in the calculation of the cost, but they will be provided for by the contract - read it carefully.

Make an independent calculation, taking into account all possible payments. Then there will be no surprises and you will be able to competently manage your own money, planning future expenses.

PSK calculates the bank and the borrower on their own.

The bank makes a calculation and notifies the borrower:

1 When placing loan offers on the official website. The bank is obliged to disclose information about the terms of the loan. The range of UCS is indicated for each product. This method should be used at the stage of analysis and selection of loan offers.

True, in some cases, you have to look for this information on the site.

For example, Gazprombank, describing the terms of loans, at the very end gives a link to the section "Tariffs. Rates. Quotes", where you can find the range of TIC. But here, too, you first need to select a specific section, then open the file in the "pdf" format.

2 When drawing up a loan agreement. Or when conditions change on it. Here you can see the TPS at the time of the contract. You can check with your calculations taken from the first paragraph.

The value of the UCS is indicated on the first page of the contract in the upper right corner in a square frame. The indicator is printed in capital letters in large black type.

3 In case of early repayment of part of the debt.

How to calculate the total cost of the loan yourself?

Why calculate the PSK yourself?

  • you need to get the exact value before signing the contract.

The bank's website indicates the range of TIC values, since the rate and other loan conditions differ for different borrowers;

  • if you need to compare different loan options;
  • if there is no trust in the bank, which does not take everything into account in the calculation. For example, Alfabank takes into account the cost of assessing collateral for a mortgage, Sberbank does not.

The calculation of the full cost is different from the calculation of the interest rate on a loan. The calculation formula is given in article 6 of the law.

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The formula is complex, and not always even a banking specialist understands the meaning and procedure for its calculation. Let's look into it.

The total cost of the loan corresponds to the internal rate of return. In financial mathematics, it is denoted by IRR (English internal rate of return).

The value corresponds to the interest rate at which the net present value (NPV) is zero.

What is net present value? First, let's define what income, expenses and net income are.

Let's illustrate the cash flows on a loan in the amount of 120,000 rubles, for a period of 12 months at a rate of 28%.

Provided that the payment is annuity (all payments to repay the loan have the same amount), the value of each payment will be 11,581.72 rubles. These payments are shown in blue and are loan income. Income from the point of view of the bank that will receive these amounts.

The red color shows the loan expense for the bank - this is the loan amount itself 120,000 rubles.

payment date payment number payment type amount, rub.
10.Jan.18 0 consumption -120000
Feb 10, 18 1 income 11580,72
10.mar.18 2 income 11580,72
10.apr.18 3 income 11580,72
May 10, 18 4 income 11580,72
10.jun.18 5 income 11580,72
10.Jul.18 6 income 11580,72
10.Aug.18 7 income 11580,72
10.Sep.18 8 income 11580,72
10.oct.18 9 income 11580,72
10.Nov.18 10 income 11580,72
10.dec.18 11 income 11580,72
10.Jan.19 12 income 11580,72
Total 18968,64

net income bank (overpayment for the client) is the difference between all income and expenses. In our case, it turned out to be 18,968.68 - highlighted in bold in the table.

Now let's look at net present value. All loan payments are made in different time(dates are given in the table). Date of issue is red. All the rest - blue - payments with an interval of 1 month.

Money loses its value over time. Today I will buy a large chocolate bar for 100 rubles, and in a year it will cost 120 rubles. That is, in a year, 100 rubles will not be enough to buy a chocolate bar. So 100 rubles. different amounts today and next year. In our example, 100 rubles. today correspond to 120 rubles in a year.

Discounting is the reduction of future money to today's value. That is, if we bring to the present moment (discount) the cost of a chocolate bar in next year(120 rubles), then you get 100 rubles.

All loan payments must be discounted to the loan disbursement date. Net present value is the sum of all discounted payments.

We need to determine the discount rate at which the net present value will be zero. That is, today's 100 rubles. will be equal to 120 rubles in a year. This IRR rate. It will correspond to the value of the total cost of the loan.

In the loan example, this is the rate at which the overpayment would be zero. That is, a loan of 120,000 rubles. will be equal to the sum of all discounted payments of the client in favor of the bank.

For self-calculation, you will need the EXEL program.

Dates are entered in column "B". The first date (or rather, zero) is January 10, 2018 - the date of loan approval. On this date, we do the calculation (discount) and determine the IRR or full cost loan.

In column "C" indicate the amount. The first amount is negative - approved loan. The rest are positive - all payments are on schedule.

EXEL has a built-in function for determining IRR (in our case, UCS), it is called "CHISTVNDOH".

To calculate, in the cell "C15" we enter the equal sign and the name of the formula "CHISTVNDOH". In the figure, the formula is shown in the formula bar, underlined in red.

Then, in brackets, we first enter all the values ​​​​(blue font in the formula and blue range in the table), then dates (green font in the formula and green range in the table).

We press "enter" and see in the cell "C15" the value 0.3204 (bottom figure). This is the full cost of the loan. Only it is expressed, not as a percentage, but in fractions of a unit. To express as a percentage, we multiply the value by 100. The result is visible in cell "C16". It turned out 32.04.

So, with a loan for a period of 12 months, in the amount of 120 thousand at a rate of 28% per annum, which corresponds to a monthly payment of 11,580.72 rubles, the TIC will be 32.04.

Important. AT this example loan payments are considered as initial data. How and where can a borrower get them?

In the loan agreement in the payment schedule. If there is no agreement yet. You need to make your own payments. To do this, you can use any online loan calculator.

We enter all known parameters of the loan into the form, click "Calculate" and see the result. The amount of the monthly payment in the figure is circled in red.

Choose a calculator to calculate the PSC. For example, this one: www.ipotek.ru/calc2n/results.php?matr=4

Specify the loan parameters (take the previous example):

  • a period of 12 months;
  • amount 120,000;
  • rate 28;
  • approval date January 10, 2018

If necessary, we enter information about insurance and other additional payments in the form. While we will consider without insurance.

We get 32.04%, which corresponds to the value calculated in EXEL.

Does the term of the loan and early repayment affect the calculation

To answer the question, let's compare a loan in the amount of 120,000 at a rate of 28% for a period of 1 and 2 years.

For a loan with a term of one year, the TIC turned out to be 32.04%, with an increase in the term by 2 times, the value will decrease to 31.97%. These values ​​are shown in white in the figure.

With an increase in the term, there is a decrease in the total cost, although it is insignificant.

Now let's determine the impact of early repayment on the size of the TIC. For a loan with a term of 1 year, we plan to repay the balance of the debt (principal debt) ahead of schedule along with the 10th installment.

For a loan for a period of 2 years - together with the 14th.

The figure shows that the change in the UCS is ambiguous. With a loan term of 2 years, early repayment increases PSK, with a period of one year - reduces.

A case from one's life

Maxim: “There was such a problem - there was a mortgage. Initially, the contract indicated PSK 14.3%. After each early repayment, the schedule was recalculated. They gave a new value of PSK. As a result, after the second early payment, the total cost increased to 16.4%??? What this is connected with is not clear. Wrote a complaint. They gave an answer, but there is something unintelligible with reference to some formulas, calculations, etc.”

The complexity of calculation and interpretation makes the indicator inconvenient for personal use.

Let's compare the same options by the size of the overpayment.

For a loan for a period of 2 years, the borrower will overpay the bank 38,079 rubles, which is much more than for a year - 18,969. Early repayment definitely reduces the overpayment, regardless of the loan term. The indicator is clear. Therefore, in the case of early repayment, it is better to focus on the final overpayment, and not on the TIC indicator.

Again, let's refer to the amendments to the law. In accordance with what, banks will additionally calculate and bring to the borrower the TIC in monetary terms. It corresponds to the overpayment (if you do not delve into the question of its composition, taking into account commissions and insurances).

Does the method of calculation affect the UCS?

Annuity and differentiated payments.

Payments to repay a loan can be annuity (the same) and differentiated (decreasing due to a decrease in the amount of interest).

Let's do the calculation for the same example.

Index the date Differentiated payments Annuity payments
approval date 10.Jan.18 -120 000,00 -120 000,00
payment 1 Feb 10, 18 12 853,70 11 580,72
payment 2 10.mar.18 12 362,74 11 580,72
payment 3 10.apr.18 12 378,08 11 580,72
payment 4 May 10, 18 12 071,23 11 580,72
payment 5 10.jun.18 11 902,47 11 580,72
payment 6 10.Jul.18 11 610,96 11 580,72
payment 7 10.Aug.18 11 426,85 11 580,72
payment 8 10.Sep.18 11 189,04 11 580,72
payment 9 10.oct.18 10 920,55 11 580,72
payment 10 10.Nov.18 10 713,42 11 580,72
payment 11 10.dec.18 10 460,27 11 580,72
payment 12 10.Jan.19 10 237,81 11 580,72
OVERPAID 18 127,12 18 968,64
PSK 0,3189 0,3204
PSK, % 31,89 32,04

Differentiated payments are more profitable for the borrower. In them, the amount of the overpayment and the value of the TIC is less.

Accurate and approximate method of calculation.

With exact, the exact number of days in each month and year is taken into account. That is, in the month 30 or 31, and in February 28 or 29. In the year 365 or 366.

In an approximate way, each month consists of 30 days.

We will calculate the loan on the same terms with a differentiated payment.

Index the date Accurate payments Approximate payments
approval date 10.Jan.18 -120 000,00 -120 000,00
payment 1 Feb 10, 18 12 853,70 12 800,00
payment 2 10.mar.18 12 362,74 12 566,67
payment 3 10.apr.18 12 378,08 12 333,33
payment 4 May 10, 18 12 071,23 12 100,00
payment 5 10.jun.18 11 902,47 11 866,67
payment 6 10.Jul.18 11 610,96 11 633,33
payment 7 10.Aug.18 11 426,85 11 400,00
payment 8 10.Sep.18 11 189,04 11 166,67
payment 9 10.oct.18 10 920,55 10 933,33
payment 10 10.Nov.18 10 713,42 10 700,00
payment 11 10.dec.18 10 460,27 10 466,67
payment 12 10.Jan.19 10 237,81 10 233,33
OVERPAID 18 127,12 18 200,00
PSK 0,3189 0,3205
PSK, % 31,89 32,05

The exact method gave a lower value of overpayment and PSK.

Total cost calculation example

Full cost of consumer credit

Why is the total cost of the loan different from the interest rate?

The value of the TIC differs from the interest on the loan for two reasons:

1 TIC calculation takes into account not only interest payments. In these cases, the TIC value will always be higher than the interest rate.

2 The annual interest rate and TIC are mathematically different indicators. UCS value corresponds to internal norm return (IRR).

IRR characterizes the average annual yield of a loan for a bank or cost for a borrower. The formula is based on discounting and takes into account that the money you pay the bank "today" is worth more than the money paid at the end of the loan term.

Therefore, in most cases, even when taking into account only interest payments, TIC is higher than the interest rate.

Conclusion

The full cost is an informational indicator for choosing the optimal loan by the borrower.

Banks consider TIC as a percentage. As part of the PSK, they take into account insurance and other payments in different ways. The calculation is complex and ambiguous. It does not always allow you to correctly compare different options.

Therefore, the full cost must be considered by yourself, including all expected payments in the calculation. This will allow you to realistically evaluate each loan offer.

You can calculate the cost in the EXEL program or using one of the many loan calculators. It is important to calculate all options in one way (on only one calculator), because different calculators give different results.

If you are new to financial mathematics, it is better to focus on another indicator. Decide how much money you want to borrow and how long you really expect to repay. Calculate the amount of overpayment for different options. Pick the one that pays the least.

about the author

Candidate economic sciences, Associate Professor of the Department of "Economics" of the Ural Social Economic Institute. I read banking disciplines. I live in Chelyabinsk, mother of two wonderful boys. I love the sea, the sun, reading, I am fond of needlework, I go skating. And I also like to learn something new.

As you have already seen, comparing loans is a rather laborious and time-consuming undertaking. In addition, in order to compare conditions, for example, for mortgage loans from different banks, you need to be well versed not only in lending, but also in insurance, and also be a good lawyer. To simplify the procedure, the Central Bank of Russia introduced such a concept as the "full cost of the loan" (previously, the concept of "effective interest rate" was introduced). For deposits, the concept of the full value of the deposit can be used.

Formula for calculating the total cost of a loan

as follows:

  • d i - date of the i-th payment;
  • d 0 - date of initial payment - is the date of transfer Money the borrower;
  • n - number of payments;
  • DP i - the amount of the i-th payment under the loan agreement. multidirectional payments are reflected with different mathematical signs. Thus, the payment of credit funds to the borrower is reflected with a minus sign, the return of funds and commission payments are reflected with a positive sign;
  • TIC - the full cost of the loan, reflected in% per annum

When determining the full cost of a loan, all payments related to the issuance of a loan (commission for issuing, processing an application, etc.) are reflected in the initial payment.

What is included in the calculation of the total cost of the loan:

1. Exactly known payments under the loan agreement, which are payments related to the conclusion and execution of the loan agreement:

    to repay the principal amount of the loan;

    on payment of interest on a loan;

    fees and commissions for drawing up a loan agreement, reviewing an application for lending, issuing credit funds, opening and maintaining an account;

    commissions for settlement and cash and operational services

    if the calculation is based on a loan on a bank card - commissions for issuing and annual servicing of credit cards

2. Payments to third parties, if the obligation to pay these payments arises from the conclusion of a loan agreement

  • real estate or motor vehicle insurance
  • payments to notary offices and notaries
  • appraisal of pledged property

The calculation of the total cost of the loan does not include

    payments of the borrower that do not follow from the loan agreement, but from the requirements of Russian legislation. For example, for a car loan, it will be an OSAGO, which must be concluded in any case;

    payments related to non-compliance by the borrower with the terms of the loan agreement. For example, late payments;

    payments of the borrower on the loan, which depend on the decision of the borrower or on the variant of his behavior. For example, a fee for early repayment, a fee for receiving cash, a fee for providing information about the state of debt.

If a loan agreement suggests different kinds loan accruals depending on the decision of the borrower, the calculation of the total loan amount is calculated based on the maximum possible loan amount (overdaft limit), loan term, equal payments under the loan agreement.

Calculation example:

Basic terms of the loan:

the date Interest payment Principal payment Commissions and other payments Remainder
debt at the end
months
01.01.2011 - 50 000,00
31.01.2011 833,33 4 166,67 1 500,00 45 833,33
28.02.2011 763,89 4 166,67 500,00 41 666,67
31.03.2011 694,44 4 166,67 500,00 37 500,00
30.04.2011 625,00 4 166,67 500,00 33 333,33
31.05.2011 555,56 4 166,67 500,00 29 166,67
30.06.2011 486,11 4 166,67 500,00 25 000,00
31.07.2011 416,67 4 166,67 500,00 20 833,33
31.08.2011 347,22 4 166,67 500,00 16 666,67
30.09.2011 277,78 4 166,67 500,00 12 500,00
31.10.2011 208,33 4 166,67 500,00 8 333,33
30.11.2011 138,89 4 166,67 500,00 4 166,67
31.12.2011 69,44 4 166,67 500,00 0,00
Total 5 416,67 50 000,00 7 000,00 0,00

In this example, the total cost of the loan was 55,49 %

As you can see, the total cost of the loan can be very different from the interest rate declared and advertised by the bank. In addition, you should not confuse it with such a concept as an increase in the cost of a loan, which to a greater extent depends not on the interest rate, but on the loan term.

The full cost of a loan is difficult to calculate using a calculator, but Excel can be a huge help in calculating it. In spreadsheets, this calculation is implemented using the IRR (internal rate of return) function. If you need to compare several programs, download

The loan agreement contains the conditions under which the borrower takes a loan and undertakes to repay it. Along with such important provisions as the amount, interest for use, term, date of payment and amount of monthly payments, the lender is obliged to notify the client of the full cost of the loan (TCP). This indicator allows you to see the big picture and understand what a loan will cost in a particular bank, as well as compare where it is more profitable to get it.

Full cost of the loan: what is it, what does it consist of

The concept of PSK first appeared in Russia in 2008. The Central Bank of the Russian Federation, by its instruction, obliged credit institutions to provide the client with full information on the amount of payments before signing the contract. Later, 21.12. 2013, FZ-353 was adopted, which regulates the issuance of consumer loans. Its goal is to protect consumers by making the lending mechanism more transparent. Based on this, Article 6 of the Law obliges banks, MFOs and pawnshops to inform their customers about the upcoming costs when obtaining and paying off a loan.

In the first part of Article 6, it is established that information about the PSK is placed:

  • in the upper right corner of the agreement, in front of individual lending conditions;
  • in a square frame, the size of which is at least 5% of the page;
  • capital letters in black;
  • by highlighting in font (the maximum size used on the page).

The calculation is made on a case-by-case basis. This takes into account:

  • principal and interest payments;
  • bank commission;
  • the cost of issuing and servicing bank cards;
  • possible payments to third parties related to lending (collateral assessment);
  • insurance premiums under an insurance contract, except for those related to the execution of federal laws (for example, OSAGO).

Penalties and penalties, commission for cashing out funds, for currency operations, reissuance of a card, insurance of property that is not a pledge is not taken into account in the calculations.

Thus, TIC is a set of all payments known at the time of applying for a consumer loan. In other words, this is the approximate amount of overpayment for the borrower, expressed as a percentage. Why indicative? Because it can change when deviating from the original conditions: it decreases with early repayment of the loan or increases with the payment of late fees and other violations in the process of executing the contract.

So, for example, in the first quarter of 2018, a consumer loan at Sberbank will cost the borrower:

How to calculate the total cost of a loan

The formula for calculating TIC used by banks and others financial institutions, is enshrined in part 2 of article 6 of FZ-353. But at the same time, lenders are guided by the indicator set by the Central Bank of the Russian Federation on a quarterly basis for each category of consumer loans by analyzing the lending market. The result obtained should not exceed the market average by more than one third.

Full loan cost: formula

It looks like:

PSK = i x NBP x 100,

where i is the interest rate base period, and NBP is the number of such periods.

The base period is the time interval set by the payment schedule. If it contains intervals:

  • no or they are equal to a year, one year is taken as a BP period;
  • several, the smaller of them is taken as the base period;
  • not defined, all numbers are added for the base and divided by their number (rounded to days, months and years).

To calculate the TIC using the formula, you need to find out the value of i - the BP rate. For this, a complex mathematical equation with numerous indicators is used:

Used parameters:

  • DP k - the amount of payment under the contract;
  • q k is the number of full base periods;
  • e k – shares of base periods;
  • m is the number of payments;
  • i is the interest rate of the base period.

To avoid doing the calculations manually, you can use the excel program. To do this, enter the data in the table:

  • loan amount in rubles;
  • period of use in months;
  • rate (percentage per annum);
  • monthly payment;
  • commissions and fees (if any).

All amounts are presented as cash flows for the loan period. Payments are painted by months, highlighting interest and the body of the loan. The last column is the monthly loan balance. The value of i is determined using the IRR function.

Since it is rather difficult to calculate TIC in long-term loans with numerous payments, the borrower can use another, simplified formula:

Designations:

  • S - the sum of all payments (interest, commissions, insurance, etc.);
  • S 0 - loan amount;
  • n is the loan term (in years).

As you can see, in this case, everything is much simpler. The cost of a loan can be calculated in a few seconds, but the result will be approximate.

Calculation of TIC by credit card

Credit cards operate on a different lending mechanism - an overdraft. This means that the borrower uses the money as needed within the set amount. Part 15 of Article 7 of FZ-353 determines that the scheduling of payments does not apply to lending with a limit. Therefore, when calculating, one should be guided by part 7 of article 6 of the said law and make it based on:

  • card account limit;
  • maximum return period;
  • the amount of the monthly repayment of principal, interest and other payments determined by the terms of the agreement

In any case, the real value full size overpayments will differ from the preliminary total.

Example of calculation of UCS

For example, let's calculate the full cost of a loan for short-term lending in an MFI.

Initial data:

  • loan amount - 20,000 rubles;
  • interest rate - 1.5% per day;
  • term of use - 10 days;
  • repayment of interest is carried out simultaneously with the return of the loan;
  • no fees or insurance.

Repayment of interest and principal debt will be made in one payment, which means that 10 days are taken for the base period.

Find the amount of interest on the loan:

20000 rub. x 1.5% x 10 days = 3000 rubles.

The total amount of payments under the contract ( DP k):

20000 rub. + 3000 rub. = 23,000 rubles.

Now you can determine the base interest rate (i). Parameter e k will not be in the equation, since the loan is repaid in a one-time payment. Further, substituting the initial data, we do mathematical calculations to find the value of i. It is equal to 0.15.

To use the formula for finding the PSC, you need to know the FBP. To do this, the number of days in a year must be divided by the loan period:

365 days: 10 days = 36.5 - the number of base periods in a year.

We substitute the results into the formula UCS = i x NBP x 100:

PSK \u003d 0.15 x 36.5 x 100 \u003d 547.500% per annum.

The result shows how much the borrower will have to pay to the lender for 10 days of using the microcredit. From 01.01.2018, for MFIs and pawnshops, the limit values ​​of TIC are set within the limits of 42.829-819.423% per annum, depending on the term, collateral and amount. This is a lot compared to banks.

For example, a loan in the amount of 1.5 million rubles. for a period of 15 years, the borrower of Sberbank will cost:

Individual indicators can vary from 12.48 to 26.09 percent, taking into account the program and lending conditions.

Having received an agreement with the derived UCS value in hand, the borrower is not required to sign it at the same minute. According to Article 7 of FZ-353, he has 5 working days to familiarize himself with the terms of the loan.

If the proposal does not suit him, he can refuse to sign the document without any consequences. In addition, you can demand to recalculate the TIC for him in case of early repayment of the loan. The creditor is obliged to do this at the request of the client. Otherwise, you can file a complaint with Rospotrebnadzor or the Central Bank of the Russian Federation.

PSK calculator online

  1. Loan amount.
  2. Interest rate (annual).
  3. Loan term in months.
  4. The amount of the commission (if any), including the cost of a loan broker.

The calculator will automatically give you how much you will overpay in monetary terms and as a percentage. You can change the loan term, amount, interest rate to choose the most profitable option. Having familiarized yourself with the offers of several lenders, you can easily determine for yourself who you will work with.

Let's start with a little theory. According to the Instruction of the Central Bank of Russia dated May 13, 2008 No. 2008-U, banks are required to calculate (the formula is given in the same document) and provide the client with information about the TIC before signing a loan agreement.

What does a parameter such as UCS tell the client? Actually, all the salt is already in the title. This is the total cost of the loan.

That is, knowing the TIC, the client can estimate how much a loan in a particular bank will actually cost him. The parameter is important, because many pay attention only to the interest rate, making it the main selection criterion. And among all the diversity credit programs and banks, PSK can really help to understand which institution is more profitable to contact.

What is included in the PSC and what is the calculation procedure?

Due to what does this parameter give such information to the client? Due to the fact that the value of the PSK includes the borrower's payments under the contract. Those. - customer costs.

In the case of credit cards, these costs are:

  • Payments to repay the loan amount;
  • Issue and maintenance of the card;
  • Other commissions (statements, insurance programs, etc.);
  • Interest payment.

In this case, when calculating the PSC, the following are not taken into account:

  • Possible penalties for non-compliance by the client with the terms of the contract;
  • Penalties for unauthorized overdraft;
  • Commissions for foreign exchange transactions;
  • Commission for the suspension of operations;
  • Transfers to the account of funds from other organizations;
  • Fee for obtaining (as well as repaying) a loan in cash.

According to the Instruction, information about the full cost of the loan, as well as the amount and list of payments included and not included in the calculation, must be communicated by the bank to the borrower directly in the loan agreement or in an annex to it.

As you can see, everything is very conditional. And if in the case of a mortgage or consumer loans it is possible to calculate the PSC as accurately as possible, then it is rather difficult to do this with credit cards, taking into account and .

Therefore, when calculating the TIC for credit cards, banks use the maximum possible loan term (read - the validity period of the card), the maximum possible, debt repayment in equal parts (read - the monthly minimum payment).

In simpler terms, it is assumed that, having received a credit card for 2 years, for example, with a limit of 100,000 rubles, the client immediately uses the entire amount and repays the loan for all 2 years according to the terms of the agreement, making, say, a minimum monthly payment of 10% plus interest.

Some banks (for example, Alfa-Bank) provide customers with 2 PSK values. One of them is calculated as described above. And in another case, it is considered that the client fits into Grace period.

interesting moment . Even if you have free, you always fit into the grace period and in general there are no commissions on a credit card, then the TIC will still, as a rule, be higher than the interest rate. This is because the bank's income, which it receives from the use of funds in the account, is included in the calculation. Yes, these funds cannot be attributed to client loan costs in any way, but, nevertheless, they are taken into account when calculating TIC.

In addition, TIC will almost always be higher than the nominal interest rate, since the calculation of TIC uses the compound interest method (and when calculating the nominal rate - simple).

An extremely ambiguous parameter. Sudostroitelny Bank, for example, says so on its website that PSK has little to do with the real costs of the client, and shows more bank income from cooperation with the client. And that this parameter does not always objectively show the real cost of a loan for a client.

After considering the theory, we can finally give the formula:

d i - the date of the corresponding payment;

d 0 - the date of the first payment (coincides with the day the funds were issued to the client);

n - number of payments;

DP i - the amount of payment according to the contract;

TIC - the total cost of the loan (%, per annum).

Hand on heart, 99.9% of customers need this formula just like Bill Gates material aid for unemployment. Without the appropriate mathematical and banking knowledge, you will not be able to use the formula and check the bank in this way.

Examples of UCS

Let's move on to practice.

Most pleased Raiffeisenbank:

This institution approached the issue of calculating the TPS with all seriousness. The bank has created 4 tables that comprehensively show the client the value of the TIC for various cards and conditions.

You can get acquainted with the tables on the website of Raiffeisenbank. Having opened the matrix, we see an interesting pattern: the more maximum amount limit, the lower the UCS value will be. For example, if you take 15-20 thousand rubles. on (without insurance, credit rate 24%), then the total cost of the loan will be 41.4%. If the limit is from 800 thousand to 1 million rubles, the TIC will already be much less - only 27.1%.

Renaissance Capital Bank also pays attention to its clients:

The value of TIC is indicated in the tariffs for credit cards. Let's compare to visually demonstrate the difference between TPM and nominal interest rate.

We open tariff plan"TP 17" - credit gold card. The interest rate is 18% (payment for goods and services) and 24% (cash withdrawal), maintenance per year is 3,600 rubles, grace period - 55 days, limit - 500,000 rubles. The calculation shows that the TIC will be from 1 to 21/29%.

And here is an example from Banca Intesa:

Gold card, amount - 100,000 rubles, interest rate - 25%, maintenance - 3,000 rubles. in year. As a result of the calculation, the TIC is 33.5%.

In conclusion, it is worth noting that sometimes the value of the UCS is really useful and can make it easier for the client to choose. Therefore, you should not completely write off this parameter from the accounts.

Content

Banks, private and public, try their best loan offers lure clients. For this reason, you can often see attractive loan rates in advertisements, but in reality the overpayment is a large amount. The full cost of the loan is a formula, the decoding of which includes, in addition to the interest rate, all additional payments on a consumer or any other loan.

What is the total cost of the loan

Taking advantage of the offer of the bank to borrow money from him, you should always know that interest is only a payment for using money. In addition, there are additional commissions, which are also added to monthly payments. The sum of these components is called the total interest rate. PSK, such an abbreviation of this indicator, is the main value that you need to focus on when choosing a loan. Providing information on the amount of the full cost of the loan is carried out in annual percentage and is indicated in the upper right corner of the bank loan agreement.

Previously, the concept of the effective interest rate was used. It was calculated using the compound interest formula, which included the shortfall in income by the borrower from the possible investment of the amount of interest payments on the loan over the term of the loan at the same interest rate as the loan. For this reason, even in the absence of additional payments, the value of the rate was higher than the nominal value. It did not reflect the borrower's real costs of servicing the debt, which the bank's client found out about only when it was time to pay for the loan.

Legal regulation

Seeing this state of affairs, the Central Bank took the side of ordinary people and obliged all financial institutions to convey to customers the full cost of the loan. In 2008, the Bank of Russia issued an instruction “On the procedure for calculating and communicating to the borrower - individual the full cost of the loan. After the entry into force of the federal law "On consumer credit(loan)”, and this happened on July 1, 2014, the value of the total cost of borrowed funds is determined depending on the average market value of the loan established by the Central Bank.

How to find out the price of a loan

It is noteworthy that microfinance companies always indicate the full cost of the loan, and all other payments relate only to penalties and fines for delays and defaults. In a bank, the main indicator is the interest rate for using the loan, additional payments that relate to the loan are indicated in separate clauses in the contract and additional agreements to him.

Notification of the total cost of the loan

Previously, the TIC indicator could be indicated in the contract, but the value was written there in small print, which was not immediately evident. According to federal law The loan agreement is divided into 2 parts: general and individual conditions. So, in the second part, which has a tabular form, the UCS number is necessarily written in the largest font that is used in the design. Information is indicated in a frame, which should cover at least 5% of the area of ​​the entire sheet, on which individual lending conditions are written.

What does the full cost of the loan include?

The maximum possible value of the TIC should not exceed one third of the average market value and is communicated to the borrower in without fail. In order to figure out where the final UTC figure comes from and why it can sometimes differ from the value in advertising or on the site credit institution, you need to know all its components. These include:

  • loan body and interest on it;
  • fee for consideration of the application;
  • commissions for registration of credit agreements and their issuance;
  • interest for opening and annual maintenance of an account (loan) or credit card;
  • borrower's liability insurance;
  • assessment and insurance of collateral;
  • voluntary insurance;
  • notarial registration.

What expenses do not increase the cost of the loan

In addition to the mandatory payments that are included in the TIC, the borrower may be charged other payments that do not affect the calculation of the effective, i.e. full rate:

  • payment for non-performance of the contract. This includes all kinds of fines and penalties accrued in connection with the late payment of the next payment.
  • voluntary payments. These include a bank commission for early repayment of a loan, payment for statements and certificates, restoration of a lost credit card etc.
  • additional contributions. Here we are talking about payments that have nothing to do with the contract, but may be mandatory in connection with Russian legislation(for example, an OSAGO policy) or initiated by the borrower himself (additional insurance).

How to calculate the total cost of a loan

You can ask about the PSK formula even before concluding an agreement at a bank branch. It must also be provided before signing the agreement. You can also calculate it yourself. However, in this case, it is necessary to carefully approach the calculation and not to miss a single moment, since this can lead to inaccuracies. Very often, borrowers make gross mistakes by inattentively reading the contract and missing certain data.

PSK formula

The calculation of the full cost of the loan is made on the basis of the norms established central bank Russia. The formula itself and the calculation algorithm are constantly being improved, therefore, when independently determining the TIC, you need to apply for the latest up-to-date data that are published on the regulator's website. Last changes in the methodology were made in connection with the adoption of the law on consumer lending. The UCS size is calculated as follows:

PSC = i × FBP × 100, where

PSK - the total cost of the loan, expressed as a percentage to the third decimal place;

NBP is the number of base periods during calendar year(according to the methodology of the Central Bank, one year is equal to 365 days);

i is the interest rate of the base period, which is expressed in decimal form.

(FORMULA)

Σ is "sigma", which means summation (in this formula - from the first payment to the m-th).

DPk is the amount of the k-th cash payment under the contract. The amount of the loan provided to the borrower is marked with a “-” sign, and repayment payments are marked with a “+” sign.

qk is the number of complete base periods from the date of loan disbursement to the date of the kth payment.

ek is the term, expressed in shares of the base period, from the end of the qk-th base period to the date of the k-th payment. If the payment of the debt is carried out strictly according to the repayment schedule, then the value will be equal to zero. In this case, the formula has a simplified form.

m is the number of payments.

i - the interest rate of the base period, expressed not in percentage, but in decimal form.

Calculation algorithm

As can be seen from the calculation formula above, the loan rate is calculated simply, with the exception of an indicator called the base period interest rate. This is the most difficult indicator to calculate, which not everyone can handle. It is physically unrealistic to calculate multi-year loans. To simplify the calculations, you can refer to online calculators or directly to the bank. In addition, if you think that the rate given in the contract is not accurate, you can send a copy of the contract to the Central Bank with a request to calculate the correct value.

Full cost of consumer credit

Before concluding a consumer loan agreement, a bank employee is obliged to inform the borrower about the real cost of the loan, which is often confused with the interest rate. Banks may impose fees for services such as internet banking or SMS alerts, which are charged only with the permission of the borrower. The full cost includes not only the amount of the overpayment formed in connection with the accrued interest, but also the payment for the following operations:

  • consideration of the application;
  • issuance of a loan;
  • release bank card;
  • withdrawal of cash from the cash desk;
  • life insurance (optional).

The cost of a loan when buying a car

When buying a car on credit, you should know that four parties are involved in the transaction at once. Firstly, this is the buyer himself and the bank that credits the purchase, and secondly, the seller, who can be a car dealership or a private person, and Insurance Company. It should be said right away that car insurance under the CASCO system is mandatory if vehicle transferred to the bank as collateral. Otherwise, the requirement to purchase an insurance policy is illegal.

The total cost of a car loan is calculated taking into account payments for the following items:

  • interest charges;
  • commissions for transferring funds to the seller's account;
  • pledge insurance;
  • additional costs of the borrower associated with the notarization of documents.

The cost of mortgage lending

Becoming the owner of your own meters has become easier with the advent of mortgages. Banks offer various options lending - with down payment or without, with government subsidies or use maternity capital– all of this will affect the total cost of the loan. In addition to paying interest to the TIC for the purchase of real estate, the following list of payments must be added:

  • insurance of collateralized property (payments by the borrower for insurance of the collateral are included in the calculation of the TIC in the amount proportional to the part of the price of real estate paid for by the loan, as well as the ratio of the loan period and the insurance period, if the borrowing period is less than the insurance period);
  • property valuation;
  • notarization of the transaction;
  • processing fee mortgage loan and transfer of funds to the account.

All payments to third parties (notary, insurance and other companies) are made using the tariffs of these organizations. If the contract provides for a minimum monthly payment, the calculation of the total cost of a consumer loan is based on this condition.

Example of calculation of UCS

  • the principal amount of the loan is 340,000 rubles;
  • loan term - 24 months;
  • rate - 13% per annum;
  • commission for granting a loan - 2.8% of the total amount;
  • commission for the issuance of cash from the bank's cash desk - 2.5%.

Below is a system with monthly equal payments. The amount of interest accrued for the period will be 72,414 rubles (you can see it in the agreement or payment schedule).

Then we calculate the amount of the commission for issuing a loan and cashing out funds:

340000 × 2.8% = 9520 rubles;

340000 × 2.5% = 8500 rubles.

After that, we sum up all the indicators and get:

340000 + 72414 + 9520 + 8500 = 430434 rubles.

Online calculator

Available online a large number of loan calculators to help calculate the TFR for standard loans, microloans and even overdrafts. However, you need to understand that due to the fact that each bank uses its own version of the rate calculation, the data may differ. In addition, it is necessary to take into account the date of issuance of the loan and its repayment, as well as ways to repay the amount of debt: annuity, differentiated or bullet.

Maximum and weighted average of the total cost of consumer loans

The Central Bank quarterly calculates and publishes the average market value of TIC for different types consumer loans. The main thing is that the maximum rate on the loan does not exceed weighted average rate more than a third. Below are the values ​​for Q3 2019, taken from official sources:

Average market values ​​of the total cost of consumer loans, %

Limit values full cost of consumer loans, %

Consumer loans for the purpose of acquiring vehicles and simultaneously pledging them

motor vehicles, whose mileage is 0–1000 km

vehicles with a mileage of more than 1000 km

Consumer loans with a borrowing limit (according to the amount of the borrowing limit on the date of signing the agreement)

30,000–100,000 rubles

100,000–300,000 rubles

Over 300,000 r.

Targeted consumer loans, which are issued by transferring credit funds to a trade and service enterprise in payment for goods (services), if there is an appropriate agreement (POS loans) without collateral

30,000–100,000 rubles

Over 100000 r.

More than a year:

30,000–100,000 rubles

Over 100000 r.

Non-targeted consumer loans, targeted consumer loans without collateral, consumer loans for debt refinancing (except for POS loans)

30,000–100,000 rubles

100,000–300,000 rubles

Over 300,000 r.

More than a year:

30,000–100,000 rubles

100,000–300,000 rubles

Over 300,000 r.

What does the analysis of PSK give to the borrower

For most people, knowing the PSC is understanding how much it will cost them borrowed funds Because sometimes a loan that only pays interest will end up costing the same amount as a loan with a lower interest rate, but with additional fees. This even occurs in the same bank, and was created in order to attract more customers. When receiving a loan agreement where the TIC is indicated, or by independently calculating the indicator, you need to understand that certain nuances may not always be taken into account, such as, for example, early repayment of the principal debt.

How to reduce the cost of a loan

Having received information about the full cost of the loan, sometimes there is no desire to borrow money. However, if you approach this issue wisely, you can eventually reduce the figure offered by the bank. There are a number of different ways to do this:

  • Early repayment of a loan. If you partially or completely repay the debt outside the schedule, this will help reduce the credit burden in the form of unaccrued interest. However, you need to carefully read the contract for penalties, which, on the contrary, can make the loan expensive.
  • Issuing money for bank card. Many lenders offer cash loans, but they do not advertise that a certain percentage will have to be paid for issuing them from the cash desk. You can ask if it is possible to transfer money to an existing card or account (it can be opened for free) and whether a fee will be charged for this. Most likely, this option will be cheaper.

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