Banking organizations are actively offering to issue credit cards. Companies are developing various bonuses for customers in the form of discounts, cashback, grace periods, miles and much more. This is due to the fact that credit cards have a revolving credit limit, and when the plastic card expires, a new card is issued automatically.
Thus, the bank obtains a long-term relationship with the borrower. But in this article we will tell you how to use the card and not pay interest, consider the intricacies of the grace period and the formation of a mandatory payment, and for example, take the Sberbank product “Visa Classic and MasterCard Standard Credit Card”.
Conditions for the Sberbank card
First, let's look at the general conditions offered for this card. Currently, the promotion is valid until December 31, 2017, under the terms of which free annual service is provided. The standard fee for using the card is 750 rubles. The credit limit does not exceed 600,000 rubles and is formed on an individual basis.
There is a grace period of up to 50 days. Cashback on the card reaches 10%. “Spasibo” from Sberbank is one of the best customer reward services operating in Russia. The company also has a highly functional personal account. The product is quite attractive in the credit card market and is in demand among consumers.
Classic credit card
License of the Central Bank of the Russian Federation No. 1481
Limit: 300,000 rub.
Rate: 27.9%
Grace period: 50 days
Cashback: 0.5%
Example of job description and calculation
To make it easier to navigate banking terminology, we will consider a specific example for making calculations. So, the credit card was activated on September 1st. This means that from now on it begins billing period. This is the period when all cash movements on the card are taken into account, including payment transactions and cash receipts. The billing period is valid for the month from September 1 to September 30.
Starts from October 1st to October 20th payment period. This is the period when the client needs to pay the minimum payment. On November 1, an invoice statement is generated, which indicates the amount of total debt on the card, as well as the minimum payment and the due date for its payment.
The client's credit limit is 60,000 rubles. In this case, 2 purchases were made:
- September 20 for 20,000 rubles;
- September 25 for 30,000 rubles.
Calculation of the minimum payment
Interest must be paid for using credit funds. The bank includes interest on the card in the amount of the mandatory payment. They are charged for the actual use of credit money in the billing period. Each banking organization uses a single formula for calculating compound interest:
Pr = SD * PrS * FD/DG
Pr – amount of accrued interest;
SD – the amount of the principal debt;
PrS – interest rate;
FD – actual use of money in days;
DG – days in a year.
Let's calculate the interest on the loan agreement for September:
Pr = 20,000 * 0.25 * 5/365 = 68.5 rubles.
20,000 is the amount for which the client made a purchase on September 20;
0.25 – coefficient equal to the interest rate of 25%;
5 – actual number of days of use of credit funds in the period from September 20 to September 25;
365 days a year.
Pr = 50,000 * 0.25 * 5/365 = 171.2 rubles.
50,000 – debt after the second purchase made on September 25;
0.25 – interest rate;
5 – actual number of days in the period from September 25 to September 30;
365 days a year.
Total = 68.5 + 171.2 = 239.7 rubles.
This is interest that will be included in the mandatory payment, which must be made before November 20, provided that the funds are not returned in full during the grace period.
In addition to interest, the minimum payment is based on the amount of the principal debt at the end of the billing period. The debt to the bank as of September 30 was:
20,000 + 30,000 = 50,000 rubles.
The minimum payment includes 6% of the debt amount:
50,000 * 0.06 = 3,000 rubles.
Thus, the formula for calculating the mandatory payment is:
OB = SD * 6% + Pr
OB – obligatory payment;
SD – the amount of the principal debt at the end of the billing period;
0.06 – coefficient equal to 6% of the principal amount;
Pr – interest on the loan agreement.
This amount will be generated on October 1. In any case, the minimum payment must be made between October 1 and October 20. Failure to comply with this condition will result in the bank charging a fine for overdue debt, as well as transmitting information to the credit bureau.
It is worth noting that the mandatory payment may include a service fee, a fee for cash withdrawals, fines and penalties. But in our case such charges are not provided.
After making all purchases, the client had an available balance of 10,000 rubles.
Balance = 60,000 – 50,000 = 10,000 rub.
60,000 is the credit limit. 50,000 – expenses for September.
| Account statement: 10/01/2017 | ||||
|---|---|---|---|---|
| date | Replenishment, r. | Consumption, rub. | Available limit, rub. | Debt, rub. |
| 01.09.2017 | 60 000 | 0 | ||
| 20.09.2017 | 20 000 | 40 000 | 20 000 | |
| 25.09.2017 | 30 000 | 10 000 | 50 000 | |
| 31.09.2017 | 10 000 | 50 000 | ||
| Debt information | ||||
| Amount to implement the grace period until October 20: | 50 000 | |||
| Mandatory payment amount until October 20: | 3 000 |
How to use the grace period?
The second important section is the grace period. The period when you can deposit all the money and not pay interest. The main nuance is that the grace period does not apply to cash withdrawal transactions. If the client withdraws cash from an ATM or cash desk, then interest on the actual use of the money will need to be paid in any case. This applies to our Sberbank credit card. There are credit cards that have a grace period even when withdrawing money.
Grace period is a combination of the billing and payment periods. It reaches 50 days. In this case, the grace period is from September 1 to October 20. The later the purchase is made in the billing period, the shorter the grace period becomes.
To use bank money without interest, you must repay the entire amount of the debt during the grace period. If 50,000 rubles are credited to your account before October 20, you will not have to pay interest.
- 20,000 – first purchase on September 20.
- 30,000 – purchase on September 25.
50,0000 rubles are credited to the account from September 1 to October 20, no interest is charged on a credit card!
If you don't meet the grace period
Let's consider the second situation in which the bank client paid the minimum payment, but did not meet the grace period. The conditions remain the same. At the same time, 3,000 was credited to the account on October 10. The credit card situation will be as follows:
50 000 — 3 000 = 47 000
50,000 – debt to the bank after September purchases;
3,000 – loan payment on October 10.
The client has money and wants to pay off the entire debt. On October 25, 47,000 rubles are credited to the account. Thus, the credit limit is fully restored, and the borrower again has access to 60,000 rubles on a credit card.
Debt balance = 47,000 – 47,000 = 0
47,000 – debt to the bank as of October 10 after payment of 3,000 rubles;
47,000 is the amount deposited on October 25.
But since the amount was credited to the account after the end of the grace period, i.e. after October 20, on November 1 the interest for September was added to the statement: 239.7 rubles.
So the principle is:
- Purchases were made in September.
- The amount is not refunded in full until October 20th.
- On November 1, an invoice statement is generated with interest for September and the amount of debt as of October 31.
- The specified mandatory payment must be made by November 20th.
How to restore the grace period
To renew the grace period, you do not need to write additional applications. This service is automatic and permanent. It is valid for the entire term of the loan agreement. The main requirement is that you must deposit funds on time. Each new month begins a new grace period from the 1st day of the billing month to the 20th day of the payment period.
Let's continue to look at the example. On October 27, a purchase is made for 5,000 rubles. Card balance as of October 27:
60,000 – 5,000 = 55,000 rubles.
60,000 – the amount of the restored credit limit;
5,000 – purchase on October 27.
55,000 – balance as of October 27.
55,000 – 239.7 = 54,760.3 rubles.
55,000 – balance on the card as of October 31.
54,760.3 – balance as of October 31.
Continuing the life cycle of the card
On November 1, an account statement with the obligatory payment and a cash flow report for October is generated:
Total debt amount:
60,000 – 54,760.3 = 5,239.7 rubles.
60,000 is the credit limit.
54,760.3 – balance as of November 1.
5,239.7 – the amount of total debt as of November 1.
OB = 5,239.7*0.06 + 239.7 = 554.1 rub.
5,239.7 – total debt as of November 1.
0.06 – coefficient.
239.7 – interest for September.
| Account statement: 01.11.2017 | ||||
|---|---|---|---|---|
| date | Replenishment, r. | Consumption, rub. | Available limit, rub. | Debt, rub. |
| 01.10.2017 | 10 000 | 50 000 | ||
| 10.10.2017 | 3 000 | 13 000 | 47 000 | |
| 25.10.2017 | 47 000 | 60 000 | 0 | |
| 27.10.2017 | 5 000 | 55 000 | 5 000 | |
| 31.10.2017 | 239,7 | 54 760,3 | 5 239,7 | |
| 31.10.2017 | 54 760,3 | 5 239,7 | ||
| Debt information | ||||
| Amount to implement the grace period until November 20: | 5 239,7 | |||
| 554,1 |
On November 10, the amount of 1,000 rubles is credited to the card account, which is sufficient to repay the minimum payment, but less than the amount of the principal debt. At this stage the debt balance will be:
5,239.7 – 1,000 = 4,239.7 rub.
The full amount was not replenished by November 20th; accordingly, an account statement will be generated on December 1st:
PR = 5,000* 0.25 * 4/365 = 13.7 rubles.
5,000 – purchase on October 27.
0.25 – tariff rate coefficient;
4 – days from October 27 to October 31.
13.7 – interest for October.
On November 30, 2017, interest for October will be debited from the account, since the amount of debt was not repaid by November 20. Balance status as of November 30, 2017:
4,239.7 + 13.7 = 4,253.4 rubles.
4,239.7 – debt before interest is written off.
13.7 – interest for October.
4,253.4 – total debt as of November 30, 2017
OB = 4,239.7*0.06 + 13.7 = 268.1 rub.
| Account statement: 12/01/2017 | ||||
|---|---|---|---|---|
| date | Replenishment, r. | Consumption, rub. | Available limit, rub. | Debt, rub. |
| 01.11.2017 | 54 760,3 | 5 239,7 | ||
| 10.11.2017 | 1 000 | 55 760,3 | 4 239,7 | |
| 30.11.2017 | 13,7 | 55 746,6 | 4 253,4 | |
| 30.11.2017 | 55 746,6 | 4 253,4 | ||
| Debt information | ||||
| Amount to implement the grace period until December 20: | 4 253,4 | |||
| Mandatory payment amount until November 20: | 268,1 |
Thus, by paying an amount that exceeds the required payment, the borrower reduces the debt, which leads to a decrease in the minimum payment. After all, the minimum payment on December 20 will be formed from the debt on November 30.
In any case, the client can check transactions and interest accruals in his personal account. In a banking company, interest and payments are calculated automatically, and errors are virtually eliminated. The entire process is carried out by software, which is, of course, controlled by competent specialists. To avoid having to calculate interest on a credit card, you just need to follow the simple rule - deposit money during the grace period.
A credit card is very popular, but many understand that it is a rather expensive product to service compared to regular consumer loans. This is because the credit limit on the card is renewable, and the borrower only needs to make the minimum payment monthly. As a result, payment may take several years. Let's look at how to calculate a payment on a Sberbank credit card yourself and using a credit calculator.
In order to make a payment on a credit card, you need to know its basic payment parameters.
Platinum Aeroflot Visa Signature
Limit – 3,000,000 rubles.
Annual rate – 21.9
Maintenance per year – 12,000 rubles.
Gold Visa and MCard
Limit – 600,000 rubles.
Annual rate – 25.9
Maintenance per year – 0
% for cashing out – 3% (390 rub. min.)
Instant Visa Classic and MCard Momentum
Limit – 120,000 rubles.
Annual rate – 25.9
Maintenance per year – 0
% for cashing out – 3% (390 rub. min.)
Classic Visa Aeroflot
Limit – 600,000 rubles.
Annual rate – 25.9-33.9
Maintenance per year – 900
% for cashing out – 3% (390 rub. min.)
Classic Visa and MCard standard
Limit – 600,000 rubles.
Annual rate – 25.9-33.9
Maintenance per year – 0-750
% for cashing out – 3% (390 rub. min.)
Give life classic
Limit – 600,000 rubles.
Annual rate – 25.9-33.9
Maintenance per year – 0-900
% for cashing out – 3% (390 rub. min.)
Give me a golden life
Limit – 600,000 rubles.
Annual rate – 25.9-33.9
Maintenance per year – 0-3500
% for cashing out – 3% (390 rub. min.)
Youth
Limit – 200,000 rubles.
Annual rate – 33.9
Maintenance per year – 750
% for cashing out – 3% (390 rub. min.)
Golden Aeroflot
Limit – 600,000 rubles.
Annual rate – 25.9-33.9
Maintenance per year – 3,500
% for cashing out – 3% (390 rub. min.)
Platinum Visa Signature and MCard Word Black
Limit – 3,000,000 rubles.
Annual rate – from 21.9
Maintenance per year – 4,900
% for cashing out – 3% (390 rub. min.)
All cards have a grace period when credit card interest is not charged for using the limit. It ranges from 1 to 50 days. The only condition is that you make only non-cash transactions. According to the terms of the loan, the grace period does not apply to cash withdrawals.
The commission when withdrawing from someone else's ATM increases to 4%, with min. commission amount of 390 rubles.
Additional costs may include services such as credit card, life and health insurance. Under such programs, the commission can be accrued monthly on the amount of debt, or annually.
The validity period of the cards is 3 years, but it is not tied to the loan period. If it is less than the card's expiration date, the loan agreement can always be renewed. In the opposite situation, a reissue is carried out.
The limit is set individually for each client within the stated limit. Its size depends on solvency, credit history and other parameters.
There are also individual conditions for interest rates.
It must be borne in mind that interest is charged on overdue debt at a rate of 36% (for individual products it may be lower).
How to make a calculation
Each borrower is sent a monthly statement with information about all transactions carried out, and the amount of the obligatory payment, indicating the date of its payment. If you have not yet issued a credit card, but want to know the full cost as a percentage, this calculation will be approximate, since it is impossible to predict in advance what operations will be performed and how often. Annual interest is calculated only on the limit actually used, which is the basis for calculations. The less you spent, the less you paid.
Credit calculator
To establish the full cost of the loan and get an approximate schedule, it is better to use a credit card calculator, for example, from Sberbank and calculate. To do this, you need to enter the initial parameters:
- Limit amount. Enter the desired indicator for preliminary calculation, or established by the loan agreement if you have already become a borrower.
- Credit term. According to the principle stated above.
- Annual percentage.
- Commissions. In our case, this is a cash withdrawal fee. To get a schedule taking into account the maximum possible expenses, enter this indicator. In fact, with cashless services, costs will be lower.
- Annual maintenance affects the full cost of the loan, but not the schedule, since it is written off once a year in the total amount. It can be calculated to take into account the full cost.
- Insurance (if available).
All banks and different websites have their own payment tools, you can use any.
To clarify the monthly payment, it is better to use a credit card calculator; Sberbank provides it on its website. And please note that each bank has its own calculation method, so the credit card calculator of different banks may give different results for the same amount of debt.
Calculate for yourself
It is always useful to calculate payments on a Sberbank credit card yourself, if only to be able to read confusing statements and control all charges. Monthly payments consist of the following charges:
- the minimum percentage of the used limit of Sberbank credit cards established by tariffs is 5% and not less than 150 rubles;
- annual interest accrued on the used overdraft (principal debt) based on the tariff plan;
- commission for cash withdrawal for each withdrawn amount is 3% at your ATM and 4% at someone else’s, but not less than 390 rubles;
- We take into account annual maintenance if the due date for its payment has come;
- fines and penalties for late payments if they arose in the previous reporting period;
- additional services (according to tariffs).
When there is no grace period
If there were cash withdrawals, or the grace period was exceeded, interest is accrued from the first transaction performed, and not from the end date, as some believe. Example:
During the reporting period (30/31 days), 10,000 rubles were withdrawn in cash from a Sberbank ATM and 15,000 rubles were spent non-cash. The fee for cash withdrawal was 390 rubles. There are no additional paid services on the card, there are no late fees or penalties. There is no annual maintenance. How to calculate the minimum payment?
- The limit spent for the reporting period was 25,000 rubles. 5% of this amount will be 1,250 rubles.
- The rate is 25.9%. To calculate the interest, you need to count how many days you used the overdraft from the day the transaction was made to the end date of the billing period. Let’s say you withdrew the total amount of cash immediately 20 days before the end of the billing period. 15,000 was spent later, 5 days before the end. It turns out that within 15 days the debt was 10,000 rubles, and over the next 5 days - 25,000 rubles 10,000*25.9%/366 (days per year) * 15 = 106.44 rubles. accrued in 15 days 25,000*25.9%/366*5 = 88.46 rub. accrued in 5 days
- Commission for cash withdrawal is 390 rubles.
- The monthly payment is 1,834.90 rubles (1,250+106.44+88.46+390)
Taking into account the grace period
If you have fulfilled the condition and spent all 25,000 non-cash, you need to replenish this amount before the end of the grace period. No interest is charged and there are no bank transfer fees. As much as they took, so much was returned (excluding additional services and annual maintenance).
You might be interested
When using a credit card, you can meet the grace period and not pay interest for using the credit limit. However, this maneuver is not always successful, and it can be difficult for the user to deposit the entire amount spent on time.
For these cases, banks allow you to make a minimum payment, which consists of part of the principal amount spent, interest, commissions (SMS, insurance, card servicing costs), fines and penalties (if there is outstanding debt for previous periods). must be submitted on the due date.
You need to know roughly what the minimum payment is to make in order to save up money and pay the card on time. This will prevent you from being late. For the bank, paying the minimum payment will serve as proof that the client intends to repay the debt in installments.
What is a grace period?
The date of making the minimum payment coincides with the end date of the grace period. The grace period consists of billing and payment periods. In the RP, the client makes purchases, and in the RP he must return the amount spent. The start and end dates of the grace period may vary not only among banks, but also between clients of the same bank. This depends on the calculation scheme used. Based on this, a distinction is made between “honest” and “dishonest” grace periods. So, the start date of the grace period could be:
- Every first day of the month (or another) if the drug is renewable.
- Date specified in individual conditions.
- Card activation date.
- Date of first purchase, etc.
“Honest” and “dishonest” grace periods - differences
The essence of an “honest” LP is that each billing period has its own payment period. For example, RP lasts from July 1 to July 31, and PP lasts from August 1 to August 25. Amounts spent in July must be paid by August 25, and amounts spent in August must be paid by September 25, etc.
The essence of the “unfair” period is that until the debt for the previous period is repaid, a new grace period will not begin. For example, the LP lasts from July 1 to August 25. Amounts spent in both July and August must be paid by August 25 in order for a new LP to begin on September 1.
An example of calculating interest on a credit card.
The calculation is made based on the above payment schemes, as well as the features of the grace period.
Consider an example with a fair grace period of 55 days, which starts on May 1 and lasts until June 25. The interest rate for cash withdrawals is 35%, for non-cash purchases - 30%, commission for cash withdrawals - 2.9% min. 300 rubles.
Let's calculate the fees for cash withdrawals:
Commission for withdrawal of 1 tr.= 1,000 *2.9%= 29 rub. =300 rub. (minimum)
Commission for withdrawal 2 tr. =2,000*2.9% = 58 rub. = 300 rub. (minimum)
The amount spent during May will be refunded on June 25th. Since the LP does not apply to cash withdrawals, interest will be accrued on this amount for 20 days (from May 10 to May 31):
Interest on 1 tr.= 1,000*35%*21 days\365=20 rub.
If it is not possible to pay such an amount, then you can make a minimum payment (5%, min. 300 rubles). In this case, interest will be accrued on the purchase amount for 11 days (from May 20 to May 31).
Interest on 3 tr. = 3,000 * 11 days * 30%/365 days = 27 rub.
The total amount to be calculated for May will be:
Debt amount for May = 4,323 rubles + 27 rubles = 4,350 rubles.
Minimum payment of the total debt:
Since the second withdrawal was already in June, you can deposit money until July 25. The amount will be calculated based on 25 days. (from June 5 to June 30)
Interest on 2 tr. = 2,000 rub.*35%*25 days/365 days=48 rub.
Let's consider an example with an “unfair” grace period with the same conditions.
Let's take into account that the user intends to receive all the money on June 25th. Let's calculate the amount of interest on the withdrawn amounts:
Amount = 1,000+300 rub.+3,000+2,000+300 rub.+44+40=6,684 rub.
If the user cannot pay this amount, then he can pay the minimum payment. In this case, interest is also accrued on the purchase amount for 36 days.
Sberbank credit card for 50 days is a unique offer, under the terms of which the client can freely manage borrowed funds for a specified time, without accruing additional interest. Such cards are in great demand among those who urgently need money, which can be returned in a short time, while receiving the conditions.
Conditions for obtaining a credit card
Before we begin to analyze the conditions for obtaining a card, you need to understand that 50 days is a grace period during which the holder can use borrowed money from the card without paying additional interest for late payment. To date, all loan products issued by Sbarbank have this period. But in order to get a credit card for 50 days, you must meet the following bank requirements:- be a citizen of the Russian Federation;
- have at least six months of work experience;
- be at least 21 years of age and not more than 65 years of age;
- have a positive credit history;
- work in one place of work for at least six months.
Required documents to obtain a credit card
In order to receive a credit card for 50 days from Sberbank, you need to provide the following documents:- passport indicating the place of registration (at the place of residence);
- TIN (if you don’t have it, you should contact the tax office);
- if the loan amount is more than 100,000 rubles, you will need a certificate of income;
- if you don’t have a salary account with Sberbank, you need to take a 2-NDFL certificate.
Common questions and answers
Before applying for a 50-day card, a number of questions often arise. Here are the most common ones.What is the credit limit amount?
As a rule, the loan amount for individuals varies from 300,000 to 600,000 rubles, depending on the personal offer. If this is not the first time you have applied to Sberbank for a loan, and there are no comments on previously taken out debt obligations, the bank may increase the limit value.There are several ways to check your credit card limit:
- Via SMS message with the word BALANCE XXXX (XXXX- last numbers on the card);
- Via and mobile application;
- Via a self-service device by submitting a credit card balance request.
How are interest rates calculated?
Interest on the loan is accrued only on funds that were withdrawn from the card. The size of the rate will depend on the conditions under which the agreement was signed with the bank. If the loan is issued in rubles, the rate can vary from 23.9 to 36% per annum, depending on the type of card, repayment time and pre-approved offer.The interest rate on Sberbank credit cards is almost the same as that offered by other banks, for example, on (but the advantage of Tinkoff Bank cards is the absence of requirements for proof of income and the presence of a bad credit history).
How is the grace period calculated at Sberbank?
The grace period is divided into 30 days of the reporting period (the time during which the borrower pays for purchases with a credit card) and 20 days of the payment period. For example, if the reporting period started on May 8, and purchases were made on the same day, payment must be made before June 27 to repay the debt without interest. But, if the purchase is paid on May 22, then until June 27 there are 35 days left to repay the full amount of debt at 0% (15 days of the reporting period and 20 days of the payment period).
The duration of the grace period is calculated using.
What is mandatory payment
Mandatory payment is the amount that must be returned for using money withdrawn from a credit card. This is a minimum payment equal to 5% of the spent portion of the loan, which must be repaid within 50 days. As a rule, this payment must be made every 20-25 days. The amount of interest charged depends on the type of credit card the holder has.If at the end of the grace period the debt amount is not fully paid, then interest will be charged on the remaining debt. And if the obligatory payment is late, then a fine will be added to this amount, and an additional penalty for each day of delay from Sberbank.
Attention! The minimum monthly payment on a credit card must be 150 rubles.
In order not to overpay additional interest, the borrower must pay the loan responsibly, and also monitor the amount of the accrued amount and the monthly payment schedule. It is better to make payments for the use of borrowed funds several days before the due date, as the money may arrive with a delay.
As mentioned earlier, the borrower must repay at least 5% of the amount used. This is only part of the amount of the loan debt; you need to add to it: the interest rate for using borrowed money; fines and penalties for late payments; commission for cash withdrawals from ATMs; commission for money transfers.
When repaying part of the used loan, Sberbank distributes them in the following order:
- Penalty, fine,
- Commissions (internet transfers, cash withdrawals).
- Interest for using a loan.
- Additional charges.
- Principal amount of debt.
Loan repayment methods
There are several options for repaying credit card debt for 50 days from Sberbank:- Using cash at the bank or self-service devices;
- By bank transfer;
- Using a debit card (via your Personal Account) or.
You can repay a loan from Sberbank either in full or in parts.
Advantages and disadvantages of Sberbank credit cards
Credit cards, like other Sberbank card products, have their own advantages depending on the offer. So, for example, a Sberbank debit card holder can count on free credit card service, free credit card service, and the opportunity to enjoy preferential interest rates.Advantages of a credit card:
- You can withdraw money throughout Russia, as well as anywhere else in the world.
- It is possible to apply for a card online, having previously left an application for its receipt.
- participation in the bonus program and.
- if the borrower is at an ATM, he pays about 3-4% commission on the amount of money withdrawn;
- if the loan amount exceeds 100,000 rubles, the bank will necessarily require a certificate of income;
- a prerequisite is a good credit history;
- Written confirmation of the borrower's employment is required.
Sberbank credit cards and terms of use
- Visa Classic and MasterCard Standard are a universal card that provides many opportunities to its owner. The maximum amount is 600,000 rubles. Interest rate 23.9 - 25.9%. Commission level – 3% (not less than 390 rubles). You can cash out no more than 50,000 rubles per day through an ATM, and no more than 150,000 rubles through a bank cash desk. There is no service charge.
- Visa and MasterCard Gold are premium cards that provide access to special offers. Credit limit – 600,000 rubles. The minimum rate is 23.9 - 25.9%. Service price from 0 to 3000 rubles per year. You can cash out a maximum of 100,000 rubles through an ATM, and 300,000 rubles through a cash register.
- – credit cards with increased savings. The maximum loan is up to 3,000,000 rubles. Interest rate from 21.9%. The cost of banking services per year is 12,000 and 4,900 rubles per year, respectively.
Credit card grace period (video)
A Sberbank credit card is a very useful thing, especially for those who use it constantly and make loan payments on time. And many people who use the card are wondering how to make payments on a Sberbank credit card and the amount of the monthly payment. Here you need to know that Sberbank loan products have an interest-free period, during which interest is not accrued.
However, do not forget that interest depends on factors such as whether you paid for purchases and services with plastic or withdrew money in cash. The accrued interest directly depends on these factors. Let's take a closer look at how payments are made on a card with a credit limit from Sberbank.
How to calculate interest on Sberbank “plastic”
The grace period is valid only for non-cash payments and is 50 calendar days. If during this time the amount spent is returned, then no interest is charged.
If not, then interest is charged, a maximum of 24%. Interest on a credit card is calculated as follows: the annual interest rate is multiplied by the amount of debt for the reporting period, divided by the number of days in the year, and then it must be multiplied by the number of days the credit funds are used. For example, if you spent 10,000, then:
- (10,000*24%)/365*30 = 197.26. This is the monthly fee for using a credit card.
Sberbank branch
As stated above, no interest is charged for non-cash payments with a financial instrument, but cash withdrawal is a paid service and amounts to 3% of the withdrawn amount. For example, if you spent 10,000 rubles, then you will have to pay back 10,300 rubles. It may be that you repaid the loan during the grace period, but withdrew cash several times during this time. In this case, the calculation will be made in this way - 0% for full repayment of the loan and 24% for cash withdrawal. For late monthly card payments, the interest rate will be 36-38%.
Calculation of the minimum payment on the card
The minimum payment on a Sberbank card is calculated as follows: 5% of the amount of debt (but not less than 150 rubles) +% for using credit card (calculated above).
(10,000*5%)+197.26 =697.26 rubles.
Credit card debt
Some credit card holders think that this is just additional money and there is no need to give it away. However, the bank is not your friend or acquaintance and it will not forgive you the debt and payment will have to be made sooner or later.
For each day of delay, interest will be charged to the account at a higher rate and the amount that will need to be paid may increase significantly.
Therefore, every holder of such “plastic” should know how to pay off the resulting debt on a Sberbank credit card.
Sberbank Gold Debit Card
The best way not to end up in debt is to make monthly payments and control the expenditure of funds on the card. To do this you need to use the following rules:
- Top up your card account on time.
- It is wise to spend the remaining money on plastic.
- Check your card balance regularly.
- Try to pay for services and goods directly using the card and repay borrowed funds during the interest-free period.
- Withdraw cash as little as possible.
If it does happen that there is a debt on the card, then under no circumstances try to throw it away or break it. This will not solve your problems with the bank, and may even worsen them. It is possible to return borrowed funds to Sberbank’s “plastic” account. To do this you need:
- Stop using a credit card.
- Make at least the minimum payment on the card, and if possible, pay the maximum.
- If you have a salary card, then the loan funds can be written off from it. This will help you prevent debt from occurring in the first place.
In order to eliminate credit card debt, you first need to know the amount you owe. This can be done using a self-service terminal, by contacting one of the Sberbank branches, using Sberbank Online or through a mobile bank. Once the amount of the debt is clear, you need to calculate the minimum loan payment and start depositing funds into the account.
What is the effective interest rate
The effective interest rate is the percentage of overpayment for the use of the loan or, in other words, the full cost of the loan.
This includes the loan announced by the bank and related payments, such as:
- Credit card issue fee.
- Insurance.
- Cost of card maintenance.
- Fees for cash withdrawals and deposits, etc.
Classic Sberbank debit card
The bank does not know in advance how much the card owner will withdraw and how much time he needs to repay the debt. Therefore, the PSC is calculated in this way: we assume that the borrower used the entire amount at once, and the payment schedule consists of equal parts. In this case, the effective interest rate is higher than the actual interest rate. In reality, everything happens differently: a settlement tool is mainly used when there is a little lack of money, for example. In this case, the resulting debt will be repaid in the near future.
This is especially true if there is a grace period. And if, for example, the limit on the card is 30,000 rubles, and the card issue is 650 rubles, then we get only 3.2%. This is subject to the absence of mobile banking and insurance, as well as cash withdrawals.
When to pay
Most often, a bank calculator is used to calculate the minimum payment on a card, but you can do this yourself (how to do this is described above). The following factors affect your monthly credit card payment:
- Availability of a grace period.
- What transactions were performed on the card.
- Connected services.
- Amount of debt.
- Presence of delays.
First of all, you need to know the duration of the interest-free grace period.
Sberbank youth debit card
You can find out from the agreement concluded with the bank or at the nearest Sberbank branch.
How and where can you pay off interest on a Sberbank credit card?
You can pay interest on your account in the following ways:
- This can be done through the cash desk at any Sberbank branch.
- You can use a self-service terminal.
- Or you can make a transfer from your salary card to a credit card.
- Remittance.
- Using online wallets.
And, if you suddenly have questions about the expenditure of funds or the amount of accrued interest, then you can always contact the managers at one of the Sberbank branches for clarification and obtaining a transaction history. You can also use online services, through mobile banking or by calling the hotline.
Found a typo? Select and press CTRL+Enter
