Calculation of the total cost of the loan. Credit cost

Financial termsTotal cost of credit (TCC)

Many borrowers take long-term loans, which are paid not in one, but in several (often multiple) payments. Manually calculating the full cost of such loans using standard formulas is simply unrealistic.

After reading the article The formula for calculating the UCS, you will find out what is i, e k, DP k- they will be discussed further.

Here's what the equation looks like interest rate base period (i) for an annuity loan of the size 100 000 rub. taken on 3 months under 35% per annum, provided that e k equals zero:

After completing the calculation of the annuity payment for this loan, we found that it is equal to 35 296 rubles. Actually, this will be our monthly payment ( DP k).

The full cost of the loan: what is it and how to calculate it

For the rest of the values ​​​​of this equation, we hope you have no questions. However, another question arises: “How to solve it ?!” And, mind you, we are considering a loan that is repaid in just three installments. It's scary to imagine what a similar equation would look like for a loan repaid in twenty installments. But such schemes of repayment are widespread.

Simplified UCS formula

The temabiz.com portal team has developed its own formula for calculating the PSC. In our opinion, it is more simple and understandable. Before we demonstrate it, we want to warn you:

This formula is not in the state regulations, and therefore it is not used by credit institutions.

There is no need to require banks to calculate TIC according to our formula - they will not do this. But you can use it to find out for yourself the real full cost of the loan. Okay, enough talking, here it is:

PSK – total cost loan, indicated in percentage per annum;

S- the total amount of all payments on the loan (including commissions, insurance, etc.);

S0- the amount of the loan;

n– loan term (in years).

An example of a simplified calculation of UCS

Let's calculate the total cost of our three-month annuity loan as an example. So its sum ( S0) is equal to 100 000 rubles. The loan will be repaid in three annuity payments of 35,296 rubles each. Assume that the bank does not impose any additional hidden fees on the borrower. In this case, the total amount of all payments ( S) will be 105 888 rubles(35296*3=105888). Loan terms ( n) is equal to 0.25 years(3 months / 12 months = 0.25). We substitute these data into our formula and find the UCS:

So the total cost of the loan is 23,552% per annum. To calculate it, we needed a regular calculator and a few seconds of time. Similarly, you can calculate any loan with any number of payments. Our formula can be safely awarded the title of "People's formula for calculating the PSK" - it can be easily dealt with by both a professor and a janitor.

Well, friends, we figured out the formulas and calculations. Let's find out what payments are included in the total cost of the loan.

Calculation of the total cost of a loan in Excel using a new formula

TFR (Total Cost of Loan) shows the actual interest rate on a loan. Previously, this criterion was called the effective interest rate. The parameter takes into account not only the principal amount of the debt and interest, but also almost all additional payments of the borrower according to the terms of the loan agreement (commissions, credit card fees, insurance premiums and premiums, if insurance affects the issuance procedure credit loan). Registration fees, penalties, fines and other payments that do not affect the size and conditions of obtaining a loan are not taken into account.

Formula for calculating PSC

Since September 1, 2014, a new formula for calculating the total cost of a loan has been in force. Reason - Federal Law No. 353 of December 21, 2013 "On consumer credit (loan)" (see article 6 "Full cost consumer credit(loan)").

For the new calculation of PSK, legislators have established a formula that, in a number of foreign countries used to find the effective annual percentage rate (APR, or Annual Percentage Rate).

The formula itself:

UCS \u003d i * NBP * 100.

• NBP is the number of base periods in a calendar year. Duration calendar year taken equal to 365 days. With a standard payment schedule from monthly payments according to the annuity system NBP = 12. For quarterly payments, this indicator will be 4. For annual payments - 1.
• i is the interest rate of the base period in decimal form. It is found by fitting as the smallest positive value of the following equation:

Let's analyze the components:

• DP k - the value of the k-th cash flow under the loan agreement. The amount provided by the bank to the borrower is included in cash flow with a minus sign. Regular payments under the loan agreement - with a plus sign.
• m is the number of payments (the number of amounts in the cash flow).
• e k is the period, expressed in parts of the established base period, calculated from the end of the qkth period to the date of the kth monetary payment;
• q k - the number of base periods from the date of the loan to the k-th cash payment;
• i is the base period rate in decimal form.

Let's show the calculation with an example.

An example of calculating UCS in Excel

The borrower takes 100,000 rubles on 07/01/2016 at 19% per annum. Loan term - 1 year (12 months). The payment method is an annuity. Monthly payment - 9216 rubles.

Enter the input data into an Excel spreadsheet:

Full loan cost - calculation formula

In Excel, this can be done using the IRR function. Let's represent payments on the loan in the form of cash flow:

Let's calculate:

In our example, it turned out that i = 0.01584. This is the monthly size of the PSK. Now you can calculate the annual value of the full cost of the loan.

The formula for calculating UCS in Excel is simple:

The value cell is formatted as a percentage, so there is no need to multiply by 100%. We simply found the product of the term of the loan and the interest rate of the base period.

Calculation by new formula showed TIC equal to the contractual interest rate. However, in this example the borrower does not pay the lender additional amounts (commissions, fees). Only percentages.

Consider another example, with additional costs.

Cash flow will change accordingly. Now the borrower will receive 99,000 rubles in his hands. BUT monthly payment due to the collection will increase by 500 rubles.

The interest rate of the base period and the total cost of the loan have increased significantly.

This is understandable, because the borrower, in addition to interest, pays a commission and a fee to the lender. And the fee is monthly. Therefore, there is such a noticeable increase in PSC. Accordingly, the cost loan product will cost more.

When a borrower decides to take a loan from a bank, no matter what, for example, consumer or mortgage, what is the first thing he pays attention to? For the interest rate. Let's look at what it is and why this very rate may depend.

What is an interest rate?

The interest rate is the amount indicated as a percentage of the loan amount, which the recipient of the loan pays for using it for a certain period of time.

The full cost of the loan - what is it?

If to speak plain language, then the interest rate is the actual payment for the use of funds that the bank issues. And, as you know, you have to pay for services.

What determines the interest rate on a loan?

The interest rate on the loan depends primarily on the current refinancing rate of the Central Bank and cannot be lower than the latter. Otherwise, the bank will work at a loss, and no one will allow this.

Then the question arises: why at the current refinancing rate, let's say, 10%, the loan rate is 20%? Do not forget that banks are financial institutions whose work, among other things, is aimed at making a profit. Accordingly, the bank's profit is included in the specified 20%.

Please note that the bet amount may vary under similar conditions. For example, two borrowers borrow the same amount from the same bank, but their interest rate is different: one has 17% per annum, and the other has 20% per annum. Why? Because the interest rate also depends on the risks of the bank itself. The interest rate is influenced by factors such as:

• Borrower's income level

• Availability of a guarantor or collateral

• Loan amount and term of its consideration

Accordingly, the less the bank risks, the lower the interest rate.

Types of interest rates

At the moment, there are three main types of interest rates used in lending: simple, compound and floating.

• Simple: during the entire term of the loan, at each interest rate period, the initial amount of the debt is used to calculate interest.

• Complicated: during the entire term of the loan, at each period of application of the interest rate, accrued interest is used to calculate interest previous period debt amount.

• The floating rate depends on the current financial indicators. This means that, subject to certain changes, the bank has the right to unilaterally change the interest rate, because he has every right to do so. The use of a floating rate for the borrower is beneficial only if the rate decreases, and in conditions modern economy it's hard to count on it.

Is there a maximum interest rate?

Yes. Max bet per bank loans in cash should not exceed 57.3% per annum, according to the law "On consumer credit (loan)" as of the time of writing. This value can be adjusted quarterly by the regulator.

However, what has been described is banking organizations, but this will not affect various microfinance companies, so MFI programs, under which the rate can be up to 500-800% per annum, will not disappear anywhere.

When analyzing bank offers, it can be revealed that there is an annual interest rate, and there is also the full cost of the loan (FCC), which is slightly higher than the annual rate.

How to calculate the full cost of the loan - where is it indicated in the contract and what does it consist of

PSK is, in fact, the rate at which credit payments are calculated. The lower this value, the better the offer.

The essence of the PUK

The full cost of a consumer or other type of loan is the current interest rate applicable to the contract. That is, it is itself annual rate to which various fees are added. Moreover, the law determines what banks can include in the CPS and what not.

What banks can include in the CPS:

• annual interest rate;
• various commissions: for issuing a loan, servicing credit account, consideration of the application;
• if we are talking about a credit card, the commission for its issue and maintenance;
• payments in favor of third parties, if they are involved when applying for a loan;
• insurance premiums, if the borrower is not a beneficiary under the insurance contract.

What, according to the law, cannot be included in the PSK:

• any payments related to late repayment of debt;
• commissions for transactions with currency, conversion;
• insurance premiums that are not related to the loan, for example, the purchase of OSAGO when the bank does not require CASCO.

When applying for a consumer loan, it is imperative to compare the offers of different banks, and the comparison must be made not at the annual interest rate, but precisely at the TIC. The lower the TIC under identical conditions for issuing a loan, the more profitable the offer for the borrower.

Annual rate and TIC

The annual interest rate is the main tool for calculating the overpayment, but it is not an objective indicator. In the description of the loan product, banks indicate the rate in annual terms, while the value of the TIC is not normally advertised, since it is always higher.

For example, one bank may offer a loan at 18% per annum, and another at 20%. The borrower sees that the first bank provides more profitable terms conclusion of the contract and refers to it. But if you contact both of these banks and calculate the overpayment, it is quite possible that in a bank where the annual rate is 20%, it will be lower. It's all about the difference in PSK. In the first case, for example, it can be 22% with an annual rate of 18%, and in the second 21% with an annual rate of 20%.

Although bank managers claim that the total cost of a loan is only a technical indicator, in reality it is not. This is an indicator that directly affects the derivation of the payment schedule and the calculation of the overpayment.

PSK in a loan agreement

Before the entry into force of the Law on consumer lending The Central Bank simply obliged banks, when issuing loans, to pronounce the value of the PSK to borrowers. But in fact, no one did this, and it was difficult to prove the fact of violation. Therefore, a new clause regarding the PSK was prescribed in the Law, now the client cannot help but see the full cost of the loan.

The fact is that now the size of the full cost of the loan, banks are required to prescribe on the main first page of the loan agreement. The value of the PSK is necessarily included in the frame, which is located in the upper left corner of the loan agreement. Moreover, it should be a noticeable frame, occupying at least 5% of the page. The font for writing information should not be blurry, incomprehensible.

How to calculate consumer credit correctly

A convenient option for the borrower - use universal online calculator. It is enough to enter the interest rate, the loan amount and its term into the program: then the calculator displays the payment schedule. But citizens take information about the product of interest on the bank's website, and there it is precisely the annual rate that appears in the description of the loan, and not the TIC. That is, the calculation will be somewhat incorrect, in fact, the overpayment will be greater.

The formula is quite complicated, so it is more convenient to use EXCEL to calculate payments and overpayments, you can also find instructions on the Internet.

In general, the surest method is to contact the bank. To begin with, the calculation of the schedule will be preliminary, since the interest in many banks depends on the personal data of the borrower. But after making an application and receiving a positive response, the client will see the exact amounts. It is not necessary to take a loan immediately, the borrower is given a month to think.

Full cost of the loan

The full cost of the loan.

Excel form for calculating the total cost of the loan - download

As you have already seen, comparing loans is a rather laborious and time-consuming undertaking. In addition, to compare conditions, for example, by mortgage loans 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 Central bank Russia has introduced such a concept as the "full cost of credit" (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

looks in the following way:

, where

• d i — date of the i-th payment;
• d 0 - date of initial payment - is the date of transfer Money the borrower;
• n is the 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 for bank card– commissions for issuing and annual maintenance 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, commission for early repayment, commission for receiving funds in cash, payment for providing information on the state of the 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:

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 multiple programs, download an Excel form to calculate the total cost of a loan.

← Full value of the deposit

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Many borrowers take out long-term loans that are repaid not in one, but in several (often multiple) payments. Manually calculating the full cost of such loans using standard formulas is simply unrealistic.

S- the total amount of all payments on the loan (including commissions, insurance, etc.);

S0- the amount of the loan;

n– loan term (in years).

Let's calculate the total cost of our three-month annuity loan as an example. So its sum ( S0) is equal to 100 000 rubles. The loan will be repaid in three annuity payments of 35,296 rubles each. Assume that the bank does not impose any additional hidden fees on the borrower. In this case, the total amount of all payments ( S) will be 105 888 rubles(35296*3=105888). Loan terms ( n) is equal to 0.25 years(3 months / 12 months = 0.25). We substitute these data into our formula and find the UCS:

So the total cost of the loan is 23,552% per annum. To calculate it, we needed a regular calculator and a few seconds of time. Similarly, you can calculate any loan with any number of payments. Our formula can be safely awarded the title of "People's formula for calculating the PSK" - it can be easily dealt with by both a professor and a janitor.

Well, friends, we figured out the formulas and calculations. Let's find out.

TFR (Total Cost of Loan) shows the actual interest rate on a loan. Previously, this criterion was called the effective interest rate. The parameter takes into account not only the principal amount of the debt and interest, but also almost all additional payments of the borrower according to the terms of the loan agreement (commissions, credit card fees, insurance premiums and premiums, if insurance affects the procedure for issuing a loan). Registration fees, penalties, fines and other payments that do not affect the size and conditions of obtaining a loan are not taken into account.

Formula for calculating PSC

Since September 1, 2014, a new formula for calculating the total cost of a loan has been in force. Reason - Federal Law No. 353 of December 21, 2013 "On consumer credit (loan)" (see Article 6 "Full cost of consumer credit (loan)").

For the new calculation of TIC, legislators have established a formula that is used in a number of foreign countries to find the effective annual interest rate (APR, or Annual Percentage Rate).

The formula itself:

UCS = i * NBP * 100 .

• NBP is the number of base periods in a calendar year. The duration of a calendar year is assumed to be 365 days. With a standard payment schedule with monthly payments under the annuity system, NBP = 12. For quarterly payments, this indicator will be 4. For annual payments - 1.
• i is the interest rate of the base period in decimal form. It is found by fitting as the smallest positive value of the following equation:

Let's analyze the components:

• DP k - the value of the k-th cash flow under the loan agreement. The amount provided by the bank to the borrower is included in the cash flow with a minus sign. Regular payments under the loan agreement - with a plus sign.
• m is the number of payments (the number of amounts in the cash flow).
• e k is the period, expressed in parts of the established base period, calculated from the end of the qkth period to the date of the kth cash payment;
• q k - the number of base periods from the date of the loan to the k-th cash payment;
• i is the base period rate in decimal form.

Let's show the calculation with an example.

An example of calculating UCS in Excel

The borrower takes 100,000 rubles on 07/01/2016 at 19% per annum. Loan term - 1 year (12 months). The payment method is an annuity. Monthly payment - 9216 rubles.

Enter the input data into an Excel spreadsheet:

Let's calculate:

In our example, it turned out that i = 0.01584. This is the monthly size of the PSK. Now you can calculate the annual value of the full cost of the loan.

The formula for calculating UCS in Excel is simple:

The value cell is formatted as a percentage, so there is no need to multiply by 100%. We simply found the product of the term of the loan and the interest rate of the base period.

The calculation according to the new formula showed TIC equal to the contractual interest rate. However, in this example, the borrower does not pay the lender additional amounts (commissions, fees). Only percentages.

Consider another example, with additional costs.

Cash flow will change accordingly. Now the borrower will receive 99,000 rubles in his hands. And the monthly payment due to the fee will increase by 500 rubles.

The interest rate of the base period and the total cost of the loan have increased significantly.

This is understandable, because the borrower, in addition to interest, pays a commission and a fee to the lender. And the fee is monthly. Therefore, there is such a noticeable increase in PSC. Accordingly, the cost of the loan product will cost more.

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 - the date of the initial payment - is the date of transfer of funds to 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 the loan agreement provides for different types of accruals on the loan, 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:

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

Not everyone understands what the full cost of a Sberbank loan means, how it is calculated and why it is needed. When obtaining all types of loans, in addition to the conditions offered by banks, it is important to refer to this parameter. It helps to compare offers among themselves and choose the most profitable one. The rules for its calculation are set out in legal document FZ-N 353 of 03/07/18.

What is the total cost of the loan

The full cost of installments implies a set of expected contributions that the borrower undertakes to pay. It is calculated as a percentage, and sometimes in monetary terms. Assigned monthly and other fees are specified in detail in the agreement between the client and the financial company.

It is not easy for an ordinary consumer to understand from the first time what it is. For example, on the Sberbank website there is an advertisement that the bank reduces the cost to 11.9% per annum for those who apply for a loan through the Sberbank Online service. But if you go to the section of the site, you can see information that the minimum value for the total cost of consumer loans is 12.51%. There is also information about maximum value- 20.94%. It becomes unclear where all this information came from and what it means.

This concept is not synonymous with percentage. Her client pays for using the lender's funds. It is charged for certain period. There is also a whole list of payments, some of which are legally included in the payment. The other part, due to certain circumstances, has the right not to be considered when calculating this value.

At the legislative level, a list of payments is fixed, which in without fail must be taken into account when determining the total cost borrowed money. Financial companies are obliged to fully disclose to the consumer all the nuances of the loan, including the rates at which the calculation was made.

Organizations take into account the following consumer costs when calculating the full installment plan:

1. Closing the debt under the contract. It is calculated according to a formula that can be found in legal documents.
2. Repayment of interest, which is established by the terms of the contract. The issued money is estimated by an overpayment - the amount that will be returned by the buyer in excess of the main debt.
3. Payments that depend on the issuance of loan money. For example, in order to avoid possible risks in large transactions, one has to turn to a letter of credit settlement system - opening a special account or placing cash in an individual safe.
4. For a plastic card.
5. Costs for services to third-party partner firms. These include compensation for insurance, the work of an appraiser, a notary, etc. Services of transactions through other organizations are also paid. An exception will be the case with car lending - CASCO is not included in the full debt.
6. Payment for insurance, where the beneficiary is determined not by the borrower or relatives, but by the company itself. For example, when insured event related to the life and health of the borrower, insurance company is obliged to transfer the entire cost to the creditor.
7. Additional types of insurance, depending on the conclusion of which the lender offers various conditions for issuing cash. For example, companies can lower interest if the consumer agrees to enter into such an insurance contract, or, conversely, increase interest if they refuse.

In the event of re-issuance of the contract when changing the insurance company, the total cost of the debt changes. The firm must notify the buyer of this in advance.

There are payments that are officially allowed not to be taken into account when calculating the total cost of installments. It turns out that the full price of the loan is a relative unit. It remains to rely on decency financial organization, which previously discloses to the consumer all information about spending. You should only contact a reliable lender with a proven track record.

The Bank reserves the right not to take into account:

1. Fees prescribed in legal requirements. For example, OSAGO is not included, but in fact it is mandatory.
2. Penalty deductions, penalties for violation of the terms of the agreement. Most often they are associated with late payment. As soon as the creditor finds out about, the deadline comes limitation period. During this time, the seller may
3. Various deductions: when withdrawing cash from an ATM, with early payment, etc.
4. Cash contributions to insurance companies at.
5. Payment for a property protection service that does not affect the price of the loan. On with simultaneous insurance of your life, the tariffs will be lower than when applying for the same without insurance.

The client has the right to write a refusal for insurance within a half month, with a request to return part of the paid funds. In this case, part of the money is lost, because. the service had already been rendered before the notice was written.

Regulatory rules on lending do not provide specific information about the calculations. There are also no clear boundaries on what should be included in the full cost of the loan. This leads to two interpretations of the law. Organizations, taking advantage of this, consider it so as to have the maximum benefit for themselves.

The Central Bank of Russia quarterly sets limits with a maximum and minimum price range. This is unprofitable for financial institutions, so they have two solutions: reduce price tags, which will not bring profit, or exclude additional payments.

Sberbank includes in the composition of mortgage debt:

• principal with interest;
• , upon registration of which 1% is reduced.

Other types of insurance and real estate valuation are not added to the total price.

When applying for a loan in the Security Council of Russia, there are several options for calculating the full price of the obligation. The organization deliberately tries not to take into account other payments. If, nevertheless, any insurance is included, then it is subtracted from the total amount.

If you borrow from the Security Council of Russia 150,000 rubles. with insurance of 8000 rubles, then later it will be included in the total debt. Thus, in fact, the borrower receives 142,000 rubles. instead of the stated amount.

At the stage of paperwork, the client is provided with information about prices. In the contract, the full cost of the installment plan is placed on the 1st page in the upper right corner and is highlighted with frames. Information is printed in the form of readable text, contains specific numbers and their decoding in capital letters. The area of ​​such a frame in accordance with Federal Law-378 has a value of at least 5% of the entire page.

In case of early closure of the debt, the value of the total amount changes. The client can safely receive this information from the seller in the form of a notification of the full cost of the loan.

How to calculate the total cost of a loan yourself

The formula for finding the full cost of the loan is given in Article 6 of the Federal Law on lending. In order to be able to count on it, special mathematical knowledge is required. Even bank employees sometimes find it difficult to count without a special program.

• PSK \u003d SDP + KDV + P

When calculating KDV, all estimated expenses, both one-time and monthly, for the entire period of the agreement are considered. The overpayment depends on the accrued interest. Numerical data are expressed in monetary terms.

Next, you need to select the type of payment: annuity or. The first means the same fixed payments under the contract. The second type of payment - differentiated - means that the contributions will not be the same. As a rule, in the initial period they have a maximum value.

After filling in the fields of the calculator, you must click the "Calculate" button. The program will give an approximate result.

Having learned the specific data, you can make a simple calculation of the total cost using the formula. For example, there is a loan worth 320,000 rubles. Term - 36 months at 16% per annum. There is additional contributions A: 2% for provision, 1.2% for service.

With a monthly payment of the same contribution, the overpayment will be 85,000.

For the issuance of money from the client will take:

• 320 x 2% = 6.4 thousand rubles

The service cost is:

• (320 + 82) x 1.2% = 4.86 thousand rubles.

Full value of debt:

• 320 + 85 + 6.4 + 4.86 \u003d 416.26 thousand rubles.

The calculation is approximate, but it can be used to compare several offers and choose something with the least cost.

How to reduce the cost of a loan

The rules applied by banks for calculating the total cost are not always beneficial for ordinary consumers. Numerous cash deductions are imposed on top of the main obligation.

In this situation, you can try to reduce the total cost of the obligation in several ways:

1. Get the lowest price agreement.
2. After registering the contract, the client can try if it really does not help to reduce the repayment. If it reduces, compare and choose a more profitable side. In the absence of the possibility of refusal, it is necessary to carefully choose insurance organization, checking its reliability and the quality of the services offered.
3. If possible, use a differentiated calculation scheme. It implies different monthly payments at the discretion of the borrower. When making a larger contribution, the principal debt is reduced, and the rest is repaid gradually. At the same time, the amount of the monthly fee is gradually reduced. A differentiated payment allows you to reduce the final overpayment by installments.
4. Choose a consumer loan where there is no deduction for .
5. Avoid violations of the terms of the agreement, in particular, delays in depositing money into the account.
6. If possible, choose a loan with a shorter term. The shorter the term, the lower the total cost of the installment plan.
7. Use a money company through which the borrower receives a salary. Some cash product sellers offer lucrative programs to their customers.

You should not focus only on reducing the value of the obligation. When refusing insurance, it is necessary to consciously analyze possible risks from which it can save in the event of an unforeseen situation.

Financial institutions include additional payments in the cost of a loan in different ways. The computational process of full installment is quite difficult and confusing. For this reason, it can be interpreted ambiguously. This hinders correct comparison. various options products. Therefore, it is important to learn how to make calculations on your own and be able to choose among the sellers more reliable.

You can calculate the full price of borrowed money yourself using the standard formula specified in Art. 6 FZ-N 353. Choose more profitable proposition it is possible in another way. You need to decide on her full size and real maturity, analyze the proposed various banks options, then calculate the cost of overpayment for all offers. The amount of funds that will be returned to the seller in excess of the principal debt determines its full cost.

Full cost of the loan