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The article is subjective and expresses the personal opinion of the author.
When obtaining a loan, you may encounter three types of expenses associated with obtaining it:
1) commissions;
2) insurance premiums;
3) interest on the use of credit.
In accordance with the law and the decision of the Supreme Court of the Russian Federation, a bank can only charge you commissions that are related to the provision of an independent banking service to you that is in no way related to the execution of a loan agreement. that is, if you come to the bank and you are asked to pay a commission for opening a credit account or for considering a loan application - these are illegal commissions, because these services are not independent and you cannot go to the stage of concluding a loan agreement without providing them. But the commission for withdrawing cash at a bank's ATM with a credit card is quite legal, since it is an independent service and you have the right to choose between using non-cash money without a commission or cash, but subject to payment thereof. The need for insurance and insurance premiums is determined by the type of insurance. In case of obtaining a mortgage loan, home insurance is required by law, and you cannot refuse it. Other types of insurance are voluntary, and therefore they can be waived. True, there is one caveat. If you refuse insurance, the bank has the right to offer you a loan at an increased interest rate.
Now consider the interest. Currently, interest on loans is accrued only on the balance of the debt, and therefore, the simple interest rate formula is used to calculate interest. Suppose that Viktor Ivanovich Smirnov took out a loan in the amount of 100 thousand rubles from the Rublev bank. for 5 years at 10% per annum. Since Viktor Ivanovich took a loan for 5 years, and 12 months in each year, he will make 60 payments during the loan term (5 years • 12 months = 60 payments). monthly, Viktor Ivanovich will have to make a payment in the amount of 1666 rubles. 67 kopecks: 100 000 rub. : 60 payments = 1666 rubles. 67 kopecks for the first month of using the loan, Viktor Ivanovich will have to pay interest on the entire amount of the loan received, namely 833 rubles. 33 kopecks: 100 000 rub. • (10%: 12 months): 100% = 833 rubles. 33 kopecks In the above example, we divide 10% by 12 months. for the reason that the interest rate is indicated annually, and interest is paid every month. In total, at the end of the first month of using the loan, Viktor Ivanovich will have to pay 2500 rubles: (1666 rubles 67 kopecks of the principal debt + 833 rubles 33 kopecks for using the loan). In the second month, Viktor Ivanovich will pay less interest. Indeed, over the past month, part of the debt (1,666 rubles. 67 kopecks) has already been paid off and the balance of the debt has become less - 98,333 rubles. 33 kopecks: (100,000 - 1,666.67). As a result, the amount of interest that Viktor Ivanovich pays will amount to 819 rubles. 44 kopecks: (100 000 rubles - 1666 rubles 67 kopecks) • (10%: 12 months): 100% = = 819 rubles. 44 kopecks The total payment in the second month will be 2486 rubles. 11 kopecks: 1666 rub. 67 kopecks + 819 rub. 44 kopecks = 2486 rub. 11 kopecks Payments are calculated similarly in subsequent months. The amount of the payment gradually decreases over the entire term of the contract, and after 5 years, Viktor Ivanovich will have to pay only 1,680 rubles. 56 kopecks Over the past 5 years, Viktor Ivanovich will have to pay 100 thousand rubles. Principal debt and 25,416 rubles. 67 kopecks interest payments.
The option that we examined is called differentiated payment lending. It is called so for the reason that the total payment amount for the current month differs from the same amount of the previous month. However, there is another option to repay the loan - in equal installments. Consider the same loan of Viktor Ivanovich as an example, however, with one condition - the bank offers the borrower to pay the same amount every month, which will include the amount of interest and the amount of repayment of the main debt. In the previous example, Viktor Ivanovich paid different amounts only for interest payments, and the principal amount was repaid in equal installments. Now he will have to pay an equal amount on both the principal and interest payments. It is unlikely that a simple formula can be dispensed with, it is more advisable to use the built-in PLT function of Microsoft Office Excel for calculation. Compare 2 types of payments, and you will see that even at a short time period (with differentiated and equal payments), the percentage difference between the two types of payment is 2065 rubles. 33 kopecks With a longer loan term or with a larger loan amount, the percentage difference increases significantly. Therefore, you must remember: if there is a choice between differentiated and equal monthly loan payments, then the option with differentiated payments is more profitable.
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