Calculation of the total cost of the loan. Loan cost

Financial termsFull cost of credit (FCC)

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

After reading the article Formula for calculating the UCS, you will find out what it is i, e k, DP k– we will talk about them further.

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

After calculating the annuity payment according to this loan, we found out that it is equal to 35,296 rubles. Actually, this will be our monthly payment ( DP k).

Total cost of loan: what is it and how to calculate it

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

Simplified UCS formula

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

This formula is not available in government regulations, and therefore it is not used by credit institutions.

There is no need to require banks to calculate the PIC using 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 chatter, here it is:

PSK – full cost loan, indicated as interest per annum;

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

S 0– the amount of the loan issued;

n– loan term (in years).

An example of a simplified UCS calculation

Let's calculate the full cost of our three-month annuity loan as an example. So, its sum ( S 0) is equal to 100,000 rubles. The loan will be repaid in three annuity payments of 35,296 rubles. Let's 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(35,296*3=105,888). Loan terms ( n) is equal 0.25 years(3 months/12 months = 0.25). We substitute this 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. In a similar way, you can calculate any loan with any number of payments. Our formula can be safely given the title “People’s formula for calculating the PSK” - both a professor and a janitor can easily understand it.

Well, friends, we’ve sorted out the formulas and calculations. Let's find out what payments are included in the full cost of the loan.

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

FCC (total cost of credit) shows the actual interest rate on the loan. Previously, this criterion was called the effective interest rate. The parameter takes into account not only the principal amount of debt and interest, but also almost all additional payments by the borrower in accordance with the terms of the loan agreement (commissions, fees for credit card, 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 UCS

From September 1, 2014, a new formula is in effect for calculating the full cost of the loan. Basis - Federal Law No. 353 of December 21, 2013 “On consumer credit (loan)” (see Article 6 “Full cost consumer loan(loan)").

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

The formula itself:

PSK = i * NBP * 100.

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

Let's look at the components:

• DP k – the value of the kth 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 are marked with a “plus” sign.
• m – number of payments (number of amounts in cash flow).
• e k – period expressed in parts of the established base period, calculated from the end of the qk-th period until the date of the k-th cash payment;
• q k – number of base periods from the date of loan issuance to the k-th cash payment;
• i – base period rate in decimal form.

Let's show the calculation with an example.

Example of calculating UCS in Excel

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

Let's enter the input data into the Excel table:

Total loan cost - calculation formula

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

Let's make the calculation:

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

The formula for calculating UCS in Excel is simple:

The value cell is set to percentage format, so multiplying by 100% is not necessary. We simply found the product of the loan term and the interest rate of the base period.

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

Let's look at another example, with additional costs.

Cash flow will change accordingly. Now the borrower will receive 99,000 rubles. A monthly payment Due to the fee, it will increase by 500 rubles.

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

This is understandable, because The borrower, in addition to interest, pays the lender a commission and fee. Moreover, the fee is monthly. That is why there is such a noticeable increase in PSC. Accordingly, the cost credit product will cost more.

When a borrower decides to take out a loan from a bank, no matter what kind, for example, consumer or mortgage, what does he first pay attention to? On the interest rate. Let's look at what it is and what this rate may depend on.

What is the interest rate?

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

Full cost of loan - what is it?

If we talk in simple language, then the interest rate is the actual fee for using funds issued by the bank. 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 operate at a loss, and no one will allow this.

Then the question arises: why, given the current refinancing rate, say, 10%, the loan rate is 20%? Do not forget that banks are financial organizations whose work is also aimed at making a profit. Accordingly, the indicated 20% includes the bank's profit.

Please note that the rate may vary under similar conditions. For example, two borrowers borrow the same amount from the same bank, but their interest rates are 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 earnings level

• Availability of a guarantor or collateral

• Loan amount and review period

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

Types of interest rates

Currently, there are three main types of interest rates used in lending: simple, complex and floating.

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

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

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

Is there a maximum interest rate?

Yes. Maximum bet 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. The regulator can adjust this value once a quarter.

However, what is described concerns banking organizations, but this will not affect various microfinance companies, so MFO programs, in 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 a total cost of credit (FCC), which is slightly higher than the annual rate.

How to calculate the full cost of the loan - where it is indicated in the agreement and what it consists of

PSK is, in fact, the rate at which loan payments are calculated. The lower this value, the more profitable the offer.

The essence of the PSK

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

What banks can include in the PSK:

• annual interest rate;
• various fees: for issuing a loan, servicing credit account, consideration of the application;
• if we are talking about a credit card, the fee for issuing and servicing it;
• 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 agreement.

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 compulsory motor liability insurance, when the bank does not require CASCO.

When applying for a consumer loan, you must compare offers from different banks, and the comparison must be made not based on the annual interest rate, but specifically on the PIC. The lower the PSC under identical loan conditions, the more profitable the offer for the borrower.

Annual rate and PSC

The annual percentage rate is the main tool for calculating overpayments, but it is not an objective indicator. In the description of the loan product, banks indicate the rate in annual terms, but the value of the PSC is not advertised as a standard, 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 addresses it. But if you contact both of these banks and calculate the overpayment, it is quite possible that in the bank where the annual rate is 20%, it will be lower. This is all due to the difference in the PSC. 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 this is not the case. This is an indicator that directly affects the development of the payment schedule and the calculation of overpayments.

PSK in the loan agreement

Before the Law on consumer lending The Central Bank simply obliged banks to tell borrowers the value of the PSC when issuing loans. But in fact, no one did this, and it was difficult to prove the 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 banks are required to indicate the full cost of the loan on the main first page of the loan agreement. The value of the PSC must be contained in a 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 or incomprehensible.

How to correctly calculate a consumer loan

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

The formula is quite complex, 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 interest rates in many banks depend on the borrower’s personal data. But after completing the application and receiving a positive response, the client will see the exact amounts. It is not necessary to take out a loan right away; the borrower is given a month to think about it.

Total loan cost

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 labor-intensive and time-consuming undertaking. In addition, to compare conditions, for example, by mortgage loans different banks, you need to have a fairly good understanding of not only lending, but also insurance, and also be a good lawyer. To simplify the procedure Central bank Russia introduced such a concept as “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 the 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 borrower;
• n — number of payments;
• DP i is the amount of the i-th payment under the loan agreement.

  multidirectional payments are reflected with different mathematical signs. Thus, the payment of loan funds to the borrower is reflected with a minus sign, the return of funds and commission payments are reflected with a positive sign;

• PSK - the total cost of the loan, reflected in % per annum

When determining the full cost of the loan, all payments associated with the issuance of the loan (commission for issuance, consideration of the application, etc.) are reflected in the initial payment.

What is included in calculating 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 the loan;

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

commissions for cash settlement and operational services

if the settlement is carried out on a loan for bank card— commissions for issue 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

• insurance of real estate or vehicles
• payments to notary offices and notaries
• valuation of property pledged as collateral

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

payments by the borrower that do not arise from the loan agreement, but from the requirements of Russian legislation. For example, to apply for a car loan, this will be compulsory motor liability insurance, which must be concluded in any case;

payments related to the borrower’s failure to comply with the terms of the loan agreement. For example, late payments;

the borrower's payments on the loan, which depend on the borrower's decision or on his behavior. For example, commission for early repayment, commission for receiving funds in cash, fee for providing information about the status of the debt.

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

Calculation example:

Basic loan terms:

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

As you can see, the total cost of the loan may differ greatly from the interest rate stated and advertised by the bank.

In addition, it should not be confused with such a concept as an increase in the cost of a loan, which largely depends not on the interest rate, but on the loan term.

The full cost of the loan is quite 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 Excel form to calculate the total cost of the loan.

← Full cost of the deposit

Deposit replenishment →

Many borrowers take out long-term loans, which are repaid not in one, but in several (often numerous) payments. It is simply unrealistic to manually calculate the full cost of such loans using standard formulas.

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

S 0– the amount of the loan issued;

n– loan term (in years).

Let's calculate the full cost of our three-month annuity loan as an example. So, its sum ( S 0) is equal to 100,000 rubles. The loan will be repaid in three annuity payments of 35,296 rubles. Let's 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(35,296*3=105,888). Loan terms ( n) is equal 0.25 years(3 months/12 months = 0.25). We substitute this 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. In a similar way, you can calculate any loan with any number of payments. Our formula can be safely given the title “People’s formula for calculating the PSK” - both a professor and a janitor can easily understand it.

Well, friends, we’ve sorted out the formulas and calculations. Let's find out.

FCC (total cost of credit) shows the actual interest rate on the loan. Previously, this criterion was called the effective interest rate. The parameter takes into account not only the principal amount of debt and interest, but also almost all additional payments by the borrower according to the terms of the loan agreement (commissions, credit card fees, insurance premiums and bonuses, 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 UCS

From September 1, 2014, a new formula is in effect for calculating the full cost of the loan. Grounds: 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 the PSC, legislators 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:

PSK = i * NBP * 100 .

• NBP is the number of base periods in a calendar year. The length of the 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 figure will be 4. For annual payments – 1.
• i – interest rate of the base period in decimal form. It is found by selection as the smallest positive value of the following equation:

Let's look at the components:

• DP k – the value of the kth 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 are marked with a “plus” sign.
• m – number of payments (number of amounts in cash flow).
• e k – period expressed in parts of the established base period, calculated from the end of the qk-th period until the date of the k-th cash payment;
• q k – number of base periods from the date of loan issuance to the k-th cash payment;
• i – base period rate in decimal form.

Let's show the calculation with an example.

Example of calculating UCS in Excel

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

Let's enter the input data into the Excel table:

Let's make the calculation:

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

The formula for calculating UCS in Excel is simple:

The value cell is set to percentage format, so multiplying by 100% is not necessary. We simply found the product of the loan term and the interest rate of the base period.

The calculation using the new formula showed the PIC equal to the contractual interest rate. However, in this example, the borrower does not pay the lender additional amounts (commissions, fees). Interest only.

Let's look at another example, with additional costs.

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

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

This is understandable, because The borrower, in addition to interest, pays the lender a commission and fee. Moreover, the fee is monthly. That is why there is such a noticeable increase in PSC. Accordingly, the cost of the loan product will be more expensive.

As you have already seen, comparing loans is a rather labor-intensive and time-consuming undertaking. In addition, in order to compare conditions, for example, on mortgage loans from different banks, you need to have a fairly good understanding of not only lending, but also insurance, and also be a good lawyer. To simplify the procedure, the Central Bank of Russia introduced the concept of “full cost of credit” (previously the concept of “effective interest rate” was introduced). For deposits, the concept of the total cost of the deposit can be used.

Formula for calculating the total cost of the loan

as follows:

• d i - date of the i-th payment;
• d 0 - date of 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 loan funds to the borrower is reflected with a minus sign, the return of funds and commission payments are reflected with a positive sign;
• PSK - the total cost of the loan, reflected in % per annum

When determining the full cost of the loan, all payments associated with the issuance of the loan (commission for issuance, consideration of the application, etc.) are reflected in the initial payment.

What is included in calculating 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 the loan;

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

commissions for cash settlement and operational services

if the payment is made on a loan on a bank card - fees 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

• insurance of real estate or vehicles
• payments to notary offices and notaries
• valuation of property pledged as collateral

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

payments by the borrower that do not arise from the loan agreement, but from the requirements of Russian legislation. For example, to apply for a car loan, this will be compulsory motor liability insurance, which must be concluded in any case;

payments related to the borrower’s failure to comply with the terms of the loan agreement. For example, late payments;

the borrower's payments on the loan, which depend on the borrower's decision or on his behavior. For example, a commission for early repayment, a commission for receiving funds in cash, a fee for providing information about the status of the debt.

If the loan agreement provides for different types of loan accruals depending on the borrower’s decision, the calculation of the full loan amount is calculated based on the maximum possible loan amount (overdaft limit), loan term, and equal payments under the loan agreement.

Calculation example:

Basic loan terms:

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

As you can see, the total cost of the loan may differ greatly from the interest rate stated and advertised by the bank. In addition, it should not be confused with such a concept as an increase in the cost of a loan, which largely depends not on the interest rate, but on the loan term.

The full cost of the loan is quite 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 receiving all types of loans, in addition to the conditions offered by banks, it is important to refer to this parameter. It helps you compare offers and choose the more profitable one. The rules for its calculation are set out in legal document Federal Law-N 353 dated 03/07/18.

What is the total cost of the loan?

The total cost of the installment plan implies the totality of the expected installments that the borrower undertakes to pay. It is calculated as a percentage, and sometimes as a monetary value. The 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 what it is the first time. 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 website section, you can see information that the minimum value for the full 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 interest amount. 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 required to be 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 that mandatory 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 providing a loan, including the prices 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 using a formula that can be found in regulatory documents.
2. Repayment of interest, which is established by the terms of the agreement. The money issued is estimated as an overpayment - the amount that will be returned by the buyer in excess of the principal debt.
3. Payments that depend on the disbursement of loan money. For example, in order to avoid possible risks in large transactions, you have to resort to a letter of credit payment system - opening a special account or placing cash in an individual safe.
4. For a plastic card.
5. Expenses for services to third-party partner companies. These include compensation for insurance, the work of an appraiser, a notary, etc. Services of transactions through other organizations are also paid. An exception would be the case with car lending - CASCO is not included in the total debt.
6. Payment for insurance, where the recipient of the benefit is not the borrower or relatives, but the company itself. For example, when insured event related to the life and health of the borrower, insurance company is obliged to transfer the full cost to the creditor.
7. Additional types of insurance, depending on the conclusion of which the lender offers different conditions for issuing cash. For example, companies can reduce interest rates if the consumer agrees to enter into such an insurance contract, or, conversely, increase them if they refuse.

If the contract is renewed when the insurance company changes, the full cost of the debt changes. The company must notify the buyer of this in advance.

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

The Bank reserves the right not to take into account:

1. Fees specified in legal requirements. For example, compulsory motor liability insurance is not included, but in fact it is mandatory.
2. Penalties and penalties for violation of the terms of the agreement. Most often they are associated with late payment. As soon as the creditor learns about it, the deadline comes limitation period. During this time, the seller may.
3. Various deductions: when withdrawing cash from an ATM, when paying early, etc.
4. Cash contributions to insurance companies for .
5. Payment for property protection services, which does not affect the loan price. If you simultaneously insure your life, the rates will be lower than if you take out the same without insurance.

The client has the right to write a refusal to accept insurance within half a 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 provided before the notice was written.

Regulatory rules on lending do not provide specific information about calculations. There are also no clear boundaries for what should be included in the total cost of the loan. This becomes the reason for the double interpretation of the law. Organizations, taking advantage of this, think in such a way as to have maximum benefit for themselves.

The Central Bank of Russia sets quarterly restrictions 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 eliminate additional payments.

Sberbank includes the following in mortgage debt:

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

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

When applying for a loan in the SB 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 any insurance is nevertheless included, it is deducted from the total amount.

If you borrow 150,000 rubles from the Security Service of Russia. with insurance of 8,000 rubles, then it will subsequently be included in the total debt. Thus, in fact, the borrower receives 142,000 rubles. instead of the stated amount.

At the stage of document preparation, 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. The information is printed in the form of readable text, contains specific numbers and their interpretation in capital letters. The area of ​​such a frame in accordance with Federal Law-378 is no less than 5% of the entire page.

If the debt is closed early, the value of the full amount changes. The client can safely obtain this information from the seller in the form of a notification about the full cost of the loan.

How to calculate the total cost of the 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 calculate without a special program.

• PSK = SDP + KDV + P

When calculating the CDV, all expected expenses, both one-time and monthly, are considered for the entire period of the agreement. 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 equal fixed payments under the contract. The second type of payment - differentiated - means that contributions will not be the same. As a rule, in the initial period they have a maximum value.

After filling out the fields of the calculator, click the “Calculate” button. The program will give an approximate result.

Once you know the specific data, you can make a simple calculation of the total cost using a formula. For example, there is a loan worth RUB 320,000. Term – 36 months at 16% per annum. Eat additional contributions: 2% for provision, 1.2% for service.

If you make the same contribution every month, the overpayment will be 85,000.

For issuing money the client will be charged:

• 320 x 2% = 6.4 thousand rubles.

The service cost is:

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

Total debt value:

• 320 + 85 + 6.4 + 4.86 = 416.26 thousand rubles.

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

How to reduce the cost of a loan

The rules applied by banks for calculating the full cost are not always beneficial for ordinary consumers. Numerous monetary withholdings are placed on top of the underlying obligation.

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

1. Draw up an agreement with the lowest prices.
2. After registering the contract, the client can try if it really does not help reduce repayments. If it reduces, compare and choose the more advantageous side. If there is no possibility of refusal, you must carefully select insurance organization, checking its reliability and the quality of the services offered.
3. If possible, take advantage differentiated scheme calculations. It involves different monthly payments at the discretion of the borrower. When you make a larger contribution, the principal debt is reduced, and the rest is repaid gradually. At the same time, the monthly fee is gradually reduced. A differentiated fee allows you to reduce the final overpayment by installments.
4. Choose a consumer loan where there is no withholding.
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 will be.
7. Use a money company through which the borrower receives his salary. Some money product sellers offer profitable programs to their customers.

You should not focus only on reducing the cost of the obligation. When refusing insurance, you need to consciously analyze possible risks, from which it can protect in the event of an unforeseen situation.

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

You can independently calculate the full price of borrowed money using the standard formula specified in Art. 6 Federal Law-N 353. Select more profitable proposition it is possible in another way. We need to decide on it full size and actual repayment period, 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.

Total loan cost