How much is your loan worth?

The loan amount is 100 thousand rubles, the term is 2 years. The bonus is a fairly simple registration procedure, since the loan has been pre-approved. The most profitable rate is 12, 99% per annum. There was only one little thing written in small print - a commission for maintaining an account in the amount of 0, 99% of the loan amount. Monthly. So what? Not enough. The total loan payment is RUB 5,800 / month. Seemingly small numbers. Live and rejoice. But it's still interesting - what is the real annual interest rate on the loan?

The form in the application will help us to answer this question.

32, 94% / per annum

This is certainly not 100-500% like a well-known postal operator. But still. The usual rates on consumer loans are in the region of 18-24% per annum. Such are the special offers for vip clients. What is surprising - the total amount of payments on interest is 14 thousand, and on the commission - 23, 7 thousand rubles! An acquaintance was lucky - she closed the loan in 3 months. And she did not have time to take full advantage of the bank's "service" in terms of servicing the account.

But what should we do in order not to find ourselves in the same situation?

1) Don't listen to them when they talk about the annual interest rate;

2) We check with the bank the monthly loan payment;

3) We clarify the term of the loan;

4) We check with the bank if there are any fees for:

- Cash withdrawal;

- Cash;

- Account maintenance;

- Other commissions (for registration of a pledge agreement, surety, etc);

At the same time, we remember that the bank is obliged to provide information about these commissions to the client. Hidden commissions, as well as commissions for issuing a loan are illegal.

5) Divide commissions into:

- Monthly - which will increase our monthly payment;

- One-time - which, in fact, will increase the total amount of the overpayment;

6) We drive the necessary data into the form and voila! We get the result. Our real annual interest rate. If it is very different from the declared one, shame the bank and promise to write about it on social networks.

I hope this short article will help you avoid any unpleasant surprises in the future. Or will reveal an amazing reality.

Have a good day! In the next article, we'll talk about cars.

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