Why psk is higher than the rate on loans. Calculation of the total cost of a loan in Excel using a new formula

You took out a loan and the lender told you about the interest rate. For your own safety, you calculated the approximate amount of overpayment, monthly payments, but these figures did not agree with those stated in the contract. Why? The bottom line is that only the interest rate is written in capital letters in the contract, but additional conditions are indicated in notes or footnotes at the bottom of the page (for example, commission for granting a loan, insurance, etc.). Therefore, in order to save your funds, you need to clarify each clause of the contract.

Thus, the full cost of the loan is the most important indicator that the borrower should be guided by when choosing the type of loan. However, due to their ignorance of this issue, the client relies only on the interest rate, while not taking into account other indicators. As a result, the borrower of an "interest-free" loan receives money at a rate of up to 80%. Because of this, the number of delays is increasing, customers blame the bankers, although they themselves are to blame for their inattention. In this article, we will try to understand what the full cost of a loan is, and what are its main components.

Loan details

Full cost The loan is expressed as a percentage per annum and shows the final amount of the overpayment for using the loan. Previously, this term had a different name - "effective interest rate". But he was not in demand, because borrowers equated it with the usual interest rate.

The question arises why it is impossible to take into account everything at one rate, which includes both commission and insurance. The answer lies on the surface. A bank is the same store where bank cards, loans, and deposits act as goods. And hiding the true amount of the overpayment under the "fine print" is just a marketing ploy to attract customers. It turns out that the bankers are not lying to us, they are only silent about the details, so it is necessary to concentrate on each note and clause of the contract.

If you take a loan from microfinance organizations, then you will be surprised, because they do not hide and do not hide additional commissions in contracts, as other banks do. They simply do not have these additional percentages, because the overpayment rate itself exceeds reasonable limits. You will pay fixed amount, but on the condition that you are a respectable payer, otherwise you will be charged penalties and interest.

Under the law, which came into force in September this year, each bank is required to calculate the full cost of consumer credit and report on the indicator to the Central Bank of the Russian Federation. The provision of a Central Bank loan to ordinary banks is carried out according to a different scheme, which differs significantly from a consumer loan.

How to calculate?

The value can be obtained by summing up the entire accrued commission (one-time and periodic), the amount annual rate accrued interest, and accordingly, the amount of the loan. To understand how the calculation is still carried out, let's give an example. The client applies to the bank with an application for a loan in the amount of 200,000 rubles. for 24 months at 15% per annum. Commission for the issuance of funds 2% and 1.5% for operational services. Let's determine the amount of basic interest, it is 31 thousand rubles. (the amount is specified in the contract). The commission for issuing a loan is 4 thousand rubles. (200,000 * 2%), and for operational services 3,465 rubles.

Therefore, the total loan amount is: 200,000+31,000+4,000+3,465=238,465 (rubles)

The example shows that it is not that difficult to calculate a loan, but various loan calculators have been created to simplify operations. There are banks that also include lost profits in the loan amount, that is, funds that could be obtained through a possible investment. The calculation of the total loan amount helps to compare and analyze completely different programs. Here's an example:

As we can see from the example, even though the interest rate is lower, the total overpayment amounts are equal. This is due to the added commission (one-time payment). The question is, which offer is better? Of course, the first, although the rate there is a little more, but it will be easier for the borrower to pay these 14,736 rubles over 5 years than in one lump sum payment.

What indicators affect the amount of credit, loan?

• Loan based payments.
• Interest payments.
• Payments that include commission (one-time and monthly).
• Credit card service charge.
• Payments to third parties stipulated by the loan agreement.
• Insurance payments (obligatory and voluntary).

There are also indicators that do not affect the loan amount:

• payments, not stipulated by the agreement, but mandatory for payment by federal law (for example, payments for registration of collateral).
• Penalties for late payment.
• Payments, the payment of which depends on the client himself (commission for servicing an unused card).
• Collateral insurance payments.

Some banks for their own enrichment charge additional fees that are not provided for by law:

• Payment of the maintenance of the loan account.
• Payment for early repayment loan.

You have the right to contact Rospotrebnadzor if the bank requires you to pay these commissions. The overpayment of commissions that may arise after the conclusion of the contract should in no case be taken into account when calculating the final amount:

• Early repayment fee.
• Commission for exceeding the overdraft limits.
• Fee for issuing an account statement.
• Commissions for settlements or transactions in a currency other than that used on the current account.
• Fee for withdrawing funds from ATMs of other banks.
• Interruption fee.
• Card reissuance fee.
• Fee for inclusion in the stop-list.

Summing up, we can say that you should not blame the bank for the fact that you were charged an "unnecessary commission". Firstly, each additional unit of overpayment is indicated in the contract, it may be hidden, but it is available. Secondly, even if the bank puts the client in front of the fact of a huge overpayment, the borrower has the right to refuse, this is his own decision.

In order not to fall for the fraudulent moves of the bank (for example, they told you about insurance, took it into account when calculating the final cost of the loan, but did not say that it is voluntary and you can refuse it), you only need to have basic economic knowledge and have an initial level of financial intelligence, otherwise, banks will benefit from your ignorance.

Many banks, as well as ordinary loan sites, provide a special online calculator that will calculate the cost of your loan according to the terms of your loan. loan agreement.

When choosing a consumer loan, borrowers first of all pay attention to the interest rate, which banks advertise in every possible way (especially if it is low). However, few clients financial institutions knows that the 15-20% declared in booklets in practice often turn into 35-40%. Why is this happening and where do they come from? high interest? It's all about hidden fees and payments, they are taken into account when calculating the total cost of the loan, which we will tell you about in this article. You will also learn how to avoid falling into such a “credit trap”.

The history of the CBR Directive "On the procedure for calculating and communicating the full cost of the loan to the borrower"

Rules for calculating the full cost of the loan (effective interest rate) and the procedure for communicating information about it to the borrower are described in the Instruction of the Central Bank of May 13, 2008 No. 2008-U. The normative act imposed on banks the obligation to inform borrowers about all commissions and additional fees and replaced the concept of “effective interest rate” (EPR), which is not entirely clear to many, with a more eloquent one - “full cost of a loan” (TCP). In addition, the Instruction contains a formula for calculating the value of the TIC, expressed as a percentage per annum, i.e. The total cost of a loan is its real interest rate.

The history of the emergence of the term "effective interest rate" in Russia is quite interesting. Thus, on December 12, 2006, the CBR Directive No. 1759-U was issued, amending Regulation No. 254-P of March 26, 2004 “On the procedure for the formation by credit institutions of reserves for possible losses on loans, on loan and equivalent debt” . In particular, in paragraph 5.1. This document introduced a formula for calculating the effective interest rate and an indication that all loans issued after July 1, 2007 can be included in the portfolio of homogeneous loans only if the bank has notified the borrower of the effective interest rate. If for ordinary clients the formula and wording of the provision were not clear, then in financial world they made a revolution. If the requirement to inform clients was not observed, financiers would have to form a reserve for each loan separately, which is extremely problematic to implement in practice.

Unfortunately, Regulation No. 254-P itself, which regulates the procedure for the formation of reserves by banks, and the formula for calculating the rate were inaccessible and incomprehensible to ordinary bank customers. As a result, the CBR decided to delete the paragraphs of clause 5.1., which dealt with EIR and linking reserves to informing borrowers about the effective rate, and create a separate Instruction. Thus, from June 12, 2008, 2 documents came into force:

1. CBR Directive No. 2008-U “On the procedure for calculating and communicating to the borrower the full cost of the loan”, written in generally accessible language and aimed at bank customers.
2. Instruction by the CBR to remove the formula for calculating the effective interest rate from Regulation No. 254-P and remove the link between the rate and the provision.

It is the Directive of the Central Bank No. 2008-U that is of maximum interest to us: we will analyze this document and determine what commissions and fees banks should take into account when forming the full cost of the loan (effective interest rate).

Basis for calculating the full cost of the loan

According to clause 2. Instructions of the Central Bank No. 2008-U, when calculating the total cost of the loan, the following payments in favor of the bank are taken into account:

• repayment of the body of the loan;
• repayment of interest;
• commissions for the execution of the contract and consideration of the loan application;
• commissions for issuing a loan;
• fees for opening and maintaining customer accounts required for issuing a loan;
• commissions for settlement and operational services;
• commissions for issuing and servicing credit cards.

In addition to commissions and other fees paid to the bank, the following payments in favor of third parties are taken into account:

• payments to insurance companies (life insurance, liability insurance, collateral, etc.);
• payment for notary services;
• payment for the valuation of the property transferred as security for the loan.

Note!

1. If the loan agreement specifies in favor of which particular organizations or individual entrepreneurs payments will be collected, their tariffs are used in the calculation. However, it is important to remember that when calculating the total cost, the bank is not required to take into account individual characteristics borrower or collateral (age, driving experience, type of property, car brand, etc.). In the case when financiers make an individual calculation, they are obliged to notify the client about this.
2. It should also be noted that in most cases it is impossible to calculate in advance (for the entire period of the loan agreement) payments in favor of third parties, therefore, when calculating the total cost ( effective rate) are used current tariffs, which can then increase or decrease.
3. The basis for calculating insurance payments is the amount proportional to the part of the value of the collateral object paid by credit funds. That is, if you take a cash loan in the amount of 500 thousand rubles. secured by his apartment worth 3 million rubles, then the basis for calculating insurance payments will be the loan amount - 500 thousand rubles. (insurance companies and the banks themselves will strongly recommend concluding an agreement for the full amount - 3 million rubles).
4. If the loan agreement involves different amounts of payments depending on the decision of the borrower, the calculation of its total cost is carried out based on the maximum possible amounts. For example, the calculation of TIC for a card loan will be carried out on the assumption that you have withdrawn the entire available amount and use it during the entire term of the agreement.

The conditions for obtaining a loan have become more “transparent” - the Central Bank has banned financial institutions from using “wired” commissions and other tricks to attract borrowers. The client must know the full cost of the loan before signing the loan agreement.

The total cost of a loan (TCC) is the amount that the borrower pays to repay the debt and payments associated with banking servicing of the loan. This value is calculated as a percentage and reflects the real, not the formal appreciation of the loan. The term "full cost of credit" came into use in 2008, replacing the phrase "effective interest rate".

Central Bank obliged financial institutions prescribe PSK in the loan agreement. The value is displayed in the upper right corner on the first page of the document.

According to the instructions of the Central Bank, the total cost of the loan includes:

1. Payments related to the execution and fulfillment of the terms of the contract:

• loan body - loan amount;
• interest charges;
• payment for consideration of the application;
• one-time fee for issuing a loan;
• commission for opening/maintenance of a bank account;
• fee for the issuance / maintenance of "plastic" - a debit or credit card.

2. Payments arising from the terms of the contract:

• assessment of the subject of collateral;
• customer liability or collateral insurance;
• costs of notarial registration of the transaction.

Explanation of elements:

• n is the crediting period;
• DP i - the total amount of payments, taking into account commissions, insurance, etc.;
• d i – payment date;
• d o - date of issue of the loan.

Cash flows of different directions in the calculation are taken into account with different mathematical signs. Obtaining credit funds with a "-" sign, repayment of a loan, payment of interest, commissions and insurance with a "+" sign.

The calculation of PSK does not include:

1. Payments arising as a result of the client's failure to fulfill its obligations:

• fine;
• fines.

2. Expenses of the borrower related to the fulfillment of legal requirements (OSAGO).

3. Payments specified in the loan agreement, the terms / amount of which depend on the client himself:

• commission for early/partially early repayment of the loan;
• penalty for excess credit limit;
• payment for the provision of certificates on the state of credit debt.

It is quite difficult to calculate the PSC manually, so you can go the easy way and use the online calculator. The calculation program takes into account all the conditions of the loan agreement and makes calculations according to the approved formula of the Central Bank.

Example. The client of the bank issued a target for the purchase of a refrigerator. The cost of equipment is 30,000 rubles, the loan repayment period is 12 months, the estimated rate is 25% per annum. Additional expenses: equipment insurance - 1000 rubles, loan issuance fee - 2% of the loan amount, monthly maintenance fee - 50 rubles.

Calculation procedure:

1. Open the program " Credit calculator”, which provides the option to calculate the UCS.

2. Enter your loan details.

For the entire period of lending, the borrower will overpay 6490 rubles, which is 21.63% of the loan amount. At the same time, the effective interest rate is not 25% per annum declared by the bank, but 39.60%.

Important! With an increase in the loan repayment period, the total cost of a consumer loan decreases, and the total overpayment increases.

When changing the debt repayment period from 12 to 24 months, the following results are obtained.

As can be seen from the example, the overpayment increased to 11306 rubles, and the TIC decreased to 34.48%.

There are four entities involved in a car purchase transaction on credit: a borrower, a bank, a car dealership, and Insurance Company. The calculation of the cost of a car loan includes several parameters:

1. The price of a car. This value includes the amount of the down payment and the amount of the loan.

2. Interest accrued in accordance with the loan agreement. The loan rate depends on a number of criteria:

• make and type of vehicle;
• the size of the down payment;

4. Notary expenses.

5. Commission for registration and issuance of a loan.

Important! Amount insurance premium(about 10% of the cost of the vehicle) and the cost of additional equipment for cars offered by a car dealership can be added to the amount of the principal debt. This will increase the final loan amount and affect the amount of the overpayment.

In order to reduce the payment burden on the borrower, banks have developed a special program - a loan with a residual value. The part of the loan remaining after making the initial installment and payment of payments according to the schedule is repaid at the end of the loan term in one payment.

For example, a client plans to buy a car worth 1,000,000 rubles. on credit. If you issue a loan with a residual payment of 30%, then the remaining 20% ​​is divided into equal payments for 35 months. At the end of the period, the borrower will be able to repay the debt in one of the following ways:

• deposit the remaining amount into a bank account;
• sell the car to the dealer using the Trade in system;
• apply for a loan extension for up to 2 years.

The total cost of the mortgage includes:

1. The amount of the loan (the value of the purchased property minus).

2. The amount of interest accrued for the entire period of the mortgage.

3. Insurance premiums paid at the request of the bank:

• insurance of property pledged against the risks of loss and damage;
• borrower's life insurance.

4. Expenses for real estate appraisal and obtaining an extract from the register of property rights.

5. Cost of registration of the transaction at the notary.

6. One-time commission of the bank for registration / issuance of a loan.

7. Expenses of the borrower for servicing a bank account.

Calculation example. The client buys an apartment secondary market, the value of the property is 2,000,000 rubles. To complete the transaction, the borrower plans to take out a loan in the amount of 1,500,000 rubles, the term is 120 months, the nominal rate is 13.5%. The costs of the client on registration of the mortgage will be:

• one-time commission for processing a loan - 1.5%;
• real estate appraisal - 3000 rubles;
• life insurance of the borrower and real estate - 0.5% each (contributions are paid annually based on the debt on the loan);
• expenses at the notary - 10,000 rubles.

All data should be entered into the online calculator calculation form and summed up.

The full cost of the mortgage (effective interest rate) will be 14.68% per annum.

The Central Bank of the Russian Federation has determined the boundary value of different categories of credit products. Banks that exceed these indicators can be held liable, up to the revocation of the license.

Maximum and average market value of the total cost of loans

1. The cost of the loan depends on the amount of the client's down payment (for mortgages and car loans). When depositing more than 50% of their own funds, banks reduce the interest rate and are less demanding on insurance.

2. The client can choose the annual collateral based on the amount owed to the bank. In this case, the amount of the insurance premium will decrease every year.

3. Get a loan "cheaper" in a bank than in a microfinance organization. A separate grid of credit cost limits has been developed for MFIs. The effective rate on a short-term unsecured loan issued by an MFI can reach 900% per annum.

When choosing a loan, the borrower studies the loan products of a number of banks, pays attention to promotions credit organizations offering low interest rates on loans. But few people know that

What is the total cost of a loan?

The total cost of the loan (FCC) is the amount that the client will actually pay the bank for the use of funds, the real price of the loan.

The practice of disclosing the real price of a bank loan did not appear in Russia immediately, but after several years of indignant misunderstanding between credit institutions and borrowers. Psychologically, the price of a loan at 11% per annum for 15 years seems attractive, but as a result, for the entire repayment period, you will have to pay twice as much as was taken. The matter was even more complicated by the abundance of commissions, in percentages and with a fixed value. Some interest was calculated on the amount of the balance, and others on the original loan amount. In such a situation, it is impossible to determine the real value of a bank loan without complex calculations.

TIC is expressed in %, but does not coincide with the annual interest rate, according to the contract. This is because, in addition to interest, the price may include payments for:

• for processing the application and verifying the borrower's data;
• for registration and maintenance of a credit account;
• for issuing bank cards under a loan agreement;
• for operations in the process of obtaining and maintaining a loan;
• the cost of insurance, if the conclusion insurance contract is a condition of the bank for issuing a loan, or determines the amount of rates and commissions on it;
• other expenses of the client directly related to the issuance of a bank loan, including mandatory payments to third parties.

The full cost of the loan must be calculated before it is received, because. loan terms are known in advance.

It is important to keep in mind that the list of expenses included in the PSC is not endless. It cannot be expanded by analogy, in the opinion of one of the parties to the transaction or by the decision of any other persons and organizations.

AT Russian Federation Since 2013, the law “On consumer credit (loan)” has been in force. In the next year, 2014, the formula for calculating the total cost of a loan became mandatory for banks (we will talk about it below).

The PSC does not include:

• The borrower's expenses incurred not under the terms of the loan, but based on the requirements of the law. This may also apply to certain types of insurance.
• Penalties and additional costs associated with violation of payment discipline.
• Additional costs for servicing the loan, which are the result of the choice of the client. An example is an increase in the repayment term of a loan, which entails a recalculation of the total amount of interest.
• Various kinds of commissions and additional payments for certain methods of loan repayment: in cash, through the terminals of other banks, using third-party payment systems.
• Fee for the movement of funds on a bank card issued under a loan agreement.

It follows that the full cost of the loan is not necessarily equal to the amount that the borrower actually pays the lender. Because in the process of repayment are possible:

• Delays in payments or early repayment. For the first, a penalty is charged, the second promises to recalculate interest and reduce the total cost of the loan or penalties, if provided for by the contract.
• Changes in loan repayment terms. Such an opportunity is often prescribed in the contract, but its occurrence is linked to external circumstances.

These and other circumstances may affect the amount actually paid by the borrower. But if the changes at the time of obtaining the loan are not known, or their occurrence does not depend on the lender, then they will not be included in the total cost of the loan.

It is important that the full cost of the loan is known in advance, even before it is received. If the bank hides information about this, then the transaction must be declared invalid, the loan agreement is terminated, and the funds spent by the client are returned to him.

For recipients bank loans it is the value of the full cost of the loan, and not the interest rate, that should be the criterion for evaluating and comparing different loan products.

How to calculate the total cost of a loan?

The process of calculating the real price of a loan takes place according to complex formulas, which are not necessary for an ordinary consumer to learn for a long time. However, it is useful to understand how such a calculation occurs.

First of all, let's clarify - all payments under the loan are calculated according to their own formulas. The main interest is calculated separately, commissions and other payments are calculated separately (depending on the terms of the contract - for the initial amount or from the unpaid balance). Then all the received figures are summed up and make up the total price of the loan.

The following formulas for calculating the cost of a loan will help you find out the payments, and not the principal amount, from which interest and other relative values ​​​​are calculated.

The first of the calculation formulas looks like this:

PSC = i x NBP x 100

here TFR is the total cost of the loan; NBP is the number of base periods; i is the interest rate in base period. The base period is the period between making mandatory loan payments.

This equation is given in the text of the law "On consumer credit (loan)" and is applied.

The upper part of the fraction, with the letters DK, is the amount of a particular payment. If it is made to the bank, then the amount is accepted with a positive sign, if it is a loan, with a negative sign. The second parenthesis contains the value of the payment in the full base period, the first parenthesis calculates the fee for a part of the period. All the results obtained are summed up and in the end equal to 0. What does equality mean cash flows received by the bank and paid by the borrower. For pen and paper calculations, this equation is rarely used. It is more convenient to calculate UCS by substituting data into an Excel spreadsheet with already entered formulas.

A simplified formula for calculating the cost of a loan will help you make an independent calculation:

The calculation goes like this:

• the sum of all loan payments (S) is divided by the amount received from the bank (S0);
• one is subtracted from the result of division;
• the resulting number is divided by n - the number of years of repayment of the loan, and multiplied by 100.

The final value is presented as a percentage. It can be compared with the basic interest rate and find out the size of the additional overpayment.

Example of calculation of UCS

We calculate the total cost of a loan of 1 million rubles for 2 years, at 10% per annum and with additional commission at 12 thousand a year. The type of payments is annuity, i.e. equal shares in all periods.

The total payment on the loan is 1 million 131 thousand 478 rubles 32 kopecks. Let's insert this figure into the simplified formula:

((1 131 478,32/1 000 000)-1)/2*100 = 6,57%

The total cost of the loan amounted to just over 6.5 percent per year, i.е. 13.15% in two years.

Why doesn't this look like the stated rate of 10% per annum?

Because interest was charged only on the amount of the unpaid balance, but there was a commission charged on the original loan amount.

This simple example shows how very different reality is from what seems clear before calculation.

How to calculate the cost of a loan online?

Calculating the full cost of a loan, using a general (rather than simplified) formula, by hand, can be a very long exercise in mathematics. Waste of time is guaranteed here, and the risk of errors is very high. But, to the delight of users, the Internet offers a lot - programs that already have all the formulas necessary for calculating, and all that remains is to put your data in the appropriate forms.

In the practice of finding a loan, calculators with the ability to select a loan that meets the specified parameters, with the function of finding a loan for the right amount and with a suitable interest rate, will be especially useful. Here good example such a calculator.

When applying for loans (loans), each borrower probably paid attention to the square frame in the upper right corner of the first page of the loan agreement, in which a certain interest rate was printed in large letters. As a rule, this rate confuses the client, since its value significantly exceeds the annual interest rate announced by bank employees for a loan issued by a person. After some explanations, the borrower calms down and signs the contract with a slight degree of distrust - this is the first reaction to the full cost of the loan (formerly the effective interest rate), which sometimes baffles the bank employees themselves. Consider what it is, what is its formula, the nuances of the calculation, and how it can affect the choice loan offer jar.

The full cost of the loan. What it is?

The total cost of the loan (FCC) is the totality of all payments that will be collected from the borrower as part of the conclusion and execution of the loan agreement. The term and amount of such payments are calculated in advance, even at the time of registration of credit documentation - in the form of a table of monthly payments, and the obligation to pay them is established by the terms of the loan agreement.

This indicator is calculated as a percentage per annum and is calculated according to the formula in article 7 federal law No. 353-FZ "On consumer credit (loan)" - there are also explanations for the calculation, which we will analyze in the article.

Now a few excerpts from the law, and let's start with the formula for calculating the PSK, which is given below.

We believe that there is no particular point in going into the details of each value, let certified economists do it. We are more interested in the practical meaning of the value obtained and what it includes.

Based on the Directive of the Central Bank of the Russian Federation dated May 13, 2008 No. 2008-U “On the procedure for calculating and communicating to the borrower - individual the full cost of the loan” any financial institution is obliged to inform its borrowers about the rate of the full cost of the loan.

The PSK is displayed in a clear black font on a white background in a square frame in the upper right corner of the first page of the consumer loan agreement. The area of ​​the frame must be at least five percent of the area of ​​the contract page. The font size must be greater than maximum size all fonts used on this page.

The TIC established in relation to the loan agreement cannot exceed its average market value by more than 1/3, which is calculated and published by the Central Bank of the Russian Federation once a quarter.

As you can see central bank cares deeply about the borrowers and seeks to bring to him the real cost of overpayments on the loan. Does the full cost of the loan reflect all the real overpayments of the borrower and can it be used to evaluate all real overpayments? We will give an answer to this question a little later, but for now we will show which payments are included in the TIC and which are excluded from the calculation.

What is included in the calculation of the PSC?

The calculation of the final cost of the loan, which until 2008 was called the effective interest rate, includes:

1. All expenses (payments) of the borrower as part of the conclusion and execution of the loan agreement, which consist of:

• the debt itself (loan body);
• payment of interest on the loan in accordance with the loan agreement;
• commissions and fees associated with the consideration loan application and issuance of a loan (for example, commission for issuing a loan, );
• fees for opening and maintaining accounts directly related to the transaction being concluded;
• payments related to settlement and cash services;
• commissions for the issuance and maintenance of plastic bank cards (credit and debit), which can be used to periodically receive credit funds to the card account within the framework of an open credit line or .

2. Payment for services of third parties, if such conditions are specified in the loan documentation. This may include:

• the cost of paying for life insurance of the borrower or his liability, as well as property pledged;
• costs for valuation of collateral;
• notary fees.

If the loan agreement clearly states which organization is the third party (for example, an insurance company), then the TIC is calculated in accordance with the tariffs of this company. In the event that the cost of services of a third party cannot be unequivocally determined before the end of the loan period, the full cost of a consumer loan is calculated for the entire loan period using the tariffs that are in effect at the time of such calculation.

Collateral insurance costs are included in the calculation of the effective rate in proportion to the amount attributable to borrowed funds. For example, if a car bought on credit costs 600 thousand rubles, and own funds the borrower amounted to 200 thousand rubles, then the part of the insurance premium that “fell” by 400 thousand rubles will be included in the PSK. credit money.

Expenses not taken into account when calculating the full cost of a consumer loan

Not all additional payments that are associated with a loan agreement may be taken into account when calculating the TIC. These exceptions include:

1. Expenses incurred by the borrower due to the requirements of the law and not taken into account in the terms of lending. This includes OSAGO insurance when buying a car on credit.

2. Payment of penalties by the bank for failure to comply with the terms of the loan agreement. For example, some banks raise the interest rate on targeted loans if there are facts of misuse of loan money or in the absence of insurance of pledged property, if such a condition is contained in the loan documentation. The most common case is for delay.

3. Commissions stipulated in the consumer loan agreement, the amount and term of payment of which are not known in advance. The collection of such payments directly depends on the behavioral factors of the borrower and the decisions taken by him. These include:

• fee for early repayment of the loan;
• commission for obtaining credit funds. For example, often a loan is transferred to a free debit card bank, but if you withdraw money from a "foreign" ATM, or want to receive it at the bank's cash desk, you will have to pay a commission fee for this;
• penalties accrued for delay or other violations of the terms of the loan agreement, including for exceeding the limits on overdraft lending;
• payment to the bank for providing certificates of the state of debt or for the state of debt in in electronic format(SMS or email)
• commission payments for banking operations in a currency other than the currency of the loan, for example, for converting from rubles into dollars when paying for goods in an online store with a credit card;
• fee charged for enrollment in bank card Money received from other credit institutions;
• fees for the suspension of banking operations on the card (card blocking).

How useful is information about the CPS for the borrower?

To begin with, when calculating the total cost of a loan, the maximum possible amount of the loan (loan) and its repayment period are taken as a basis, and it is understood that the client will repay payments evenly in accordance with the payment table in the individual conditions of the agreement. This does not reflect the real cost of the loan, because if it is repaid ahead of schedule, then the overpayment for it will be much less.

Thus, TIC is some conditional value that banks are required to calculate based on the expected actions of the borrower. And it really can be used to compare loans in the same “weight category”, i.e. needs with needs, and mortgage with mortgage.

The situation is more interesting. As you know, a credit card has a certain credit limit, it is provided (usually 5-10%), and there is also (the main highlight of the card) when the bank does not have to pay interest if you have time to pay off the debt on time.

How to calculate the PSC in this case? Usually banks assume that you borrow to the maximum (the entire amount of the credit limit), and pay off the debt minimum payments the entire validity period of the card. The interest is, to put it mildly, unrealistic, so another calculation is usually attached to this calculation - provided that the client fits into Grace period. And sometimes there can be more calculations (depending on the number of tariff plans). All of them reflect the possible options for payments on a credit card. Although it is unlikely that these payments receive the attention of future cardholders, although when compared credit cards different banks, then the full cost of the loan may give rise to reflection and incline a person to choose one or another banking product.

A small example - a person chooses a credit card, paying attention to the amount of the annual interest rate on the loan. If this parameter does not differ for two cards of different banks, then less people will overpay for the card with the minimum monthly payment more, which means that this credit card has less TIC.

Unfortunately, PSK does not reflect such information about the company as its reliability, literacy and courtesy of employees, people's rating (negative and positive reviews), ease of obtaining and repaying, and much more that a borrower needs to pay attention to when obtaining a loan ...