What is the best way to pay off a loan? Should I pay off my loan early? Early repayment under current legislation

Many borrowers try to repay the loan ahead of schedule, because in some cases this can significantly reduce the overpayment. According to the amendments to the legislation approved in 2011, banks are forbidden in any way to prevent the early repayment of the debt - in particular, to levy fines or establish a moratorium. However, some banks get around these restrictions by setting a rather high minimum payment amount. Lawyers and representatives of banks spoke about the most common mistakes that borrowers make when repaying a loan ahead of schedule.

Mistake number one. “My job is to deposit money, and the bank will figure it out on its own”

The borrower, who is going to repay the loan ahead of schedule, must not only accumulate a sufficient amount, but also write a corresponding application in free form. As explains Vyacheslav Kurilin, Chairman of the Board of the Private Limited Liability Company for the Protection of Consumer Rights "Sovetnik", in the application it is important to indicate the amount of early repayment and the date of the transaction. The fact is that, in accordance with Russian law, the borrower really has the right to repay the loan at any time, without the consent of the bank, but he is obliged to notify the financial institution at least 30 days before the date of the transaction. In addition, most banks have their own requirements for the minimum notice period for early repayment of the loan, which are specified in the loan agreement. It is worth noting that often employees of a credit institution deliberately recommend borrowers not to write a corresponding application, trusting them at their word - and this always goes sideways to the borrower.

According to Chelyabinsk branch manager of UniCredit Bank Andrey Stikhin, some borrowers, based on the payment schedule, independently determine the amount of early repayment of the loan and transfer money to the account, without notifying the financial institution. “Customers do not notify the bank that this is an early repayment, but simply make an increased amount of the monthly payment. Without notice from the borrower, the bank does not consider this an early repayment, the funds are simply debited monthly to repay the loan, but the amount / term of the loan does not change. This is important to understand,” he says. In addition, with the full repayment of the loan, the borrower needs to sign a notice of early repayment, with partial - an additional agreement to the contract, since in the latter case the amount of the monthly payment also changes.

Mistake number two. “It seems that this amount should be enough”

A common mistake in early repayment of a loan is an incorrectly calculated amount. “The amount for full early repayment of the loan must be calculated by a bank employee. The borrower can always find out the required amount by calling the bank's hotline. This amount must be credited to the client's account in full and on the date specified by the repayment schedule. After making a full early repayment, it is recommended to call the bank and clarify whether the contract is closed or not,” comments Tatyana Arzumanova, Head of Non-Targeted Lending Department at Home Credit Bank.

“There is a case when the borrower decided to repay the loan ahead of schedule and deposited all the money into an account from which the amount of the next payment was automatically debited every month. But a few days before the date of debiting, she decided to check the balance to be sure that there were funds in the account. For this service, the bank wrote off 15 rubles from her account. Accordingly, on the day of writing off, 15 rubles were not enough to fully repay the debt, and the bank did not make an early repayment, but wrote off the principal amount and interest on a monthly basis for two years. And when the money in the account ran out, the bank informed the discouraged borrower about the accumulated debt and delays, ”says Vyacheslav Kurilin and adds that the consumer must independently clearly monitor the timing of debiting funds and their presence in the bank account.

Mistake number three. “The bank always calculates the overpayment correctly”

Often, when repaying a loan early, banks reduce only the amount of debt on the principal debt, while continuing to charge the borrower interest on the entire initially granted loan amount. “For example, a person took a loan of 200,000 rubles, and after a while he decided to repay one hundred thousand ahead of schedule,” explains Vyacheslav Kurilin. - However, when repaying a loan, the bank withholds interest from the borrower based on the original loan amount - 200,000 rubles, which is prohibited by law. Interest should be calculated only on the amount of debt in the reporting period,” the expert says.

According to him, a number of banks even practice the appearance of early or partial repayment, naming the borrower not the amount of the principal debt for the current day, but the total amount of debt, including interest accrued for the entire period. To warn yourself against paying extra interest is quite simple: you need to ask a bank employee to name only the amount of the principal debt. “The bank charges interest only on the balance of the debt, therefore, with a decrease in the principal debt, interest payments for using the loan also decrease. Accordingly, the earlier the repayment took place, the less the overpayment on the loan, ”explains Head of the Department of Lending to Individuals at VUZ-Bank Olga Gorlova.

Mistake number four. “We need to pay off everything at once - both the loan and the late fees”

As Lyubov Panova, deputy regional director for retail business development at Promsvyazbank's Chelyabinsk operating office, explains, refinancing gives the borrower the opportunity to get a new loan on more favorable terms in order to pay off the old one. It should be noted that in this situation, borrowers are advised to remember a simple rule - when repaying an old loan, you need to make sure that the amount paid is directed primarily to repay the principal and interest on it, and not as a late payment penalty. It will be possible to pay off the penalty on the old loan after some time, since after the loan is repaid, the amount of the fine will no longer increase.

In addition, the resulting penalty on the loan can later be significantly reduced as a result of litigation with the bank. “According to Art. 333 of the Civil Code of the Russian Federation, it is possible to reduce the penalty if the borrower had really good reasons for delaying loan payments - for example, losing a job, ”Lubov Panova draws attention.

Mistake number five. "Early repayment of the loan is always profitable"

According to Vyacheslav Kurilin, in fact, it is economically profitable to advance a loan with annuity payments (that is, with equal monthly payments) only in the first half of the term, since in this case the borrower dramatically reduces the amount of overpaid interest. “If the term of the loan has already exceeded half, then it makes no sense to repay the loan ahead of schedule, because the person has already paid almost all the interest for using the loan. This is due to the annuity payment system, when interest is included in the first monthly payments for the last months of using bank funds, ”the expert sums up.

Banks have a negative attitude towards loan debtors, however, they do not welcome early repayment of loans, as they lose part of the profit.

The borrower also does not always benefit from closing the loan agreement ahead of time.

Let's understand the nuances of early repayment of the loan.

Early repayment is the deposit of funds to pay off a loan in addition to the current loan payment. Early payment is a voluntary service and can be requested by the borrower only at his own request.

Early repayment of the loan is beneficial for the borrower, but bank employees are not at all happy with this decision of the client. Why?

The less time the borrower uses the loan money, the less the overpayment will be.

While early repayment of consumer loans results in savings that are minimally reflected in the amount of debt, in the case of a mortgage or car loans, the overpayment for loan financing during the entire term can be up to 100% of the loan body.

Early repayment reduces the bank's planned income.

Previously, until 2011, the loan agreements of all banks contained a clause according to which penalties were applied to the borrower for early repayment of the loan.

Since November 2011, amendments have been made to the Civil Code of the Russian Federation, according to which any borrower has the right to repay the debt ahead of schedule (in whole or in part), provided that the bank has been notified in writing of the forthcoming loan repayment one month in advance. For this, credit institutions should not charge fines.

Federal Law No. 284, which entered into force on October 19, 2011, and Art. 809 of the Civil Code of the Russian Federation establish the right of borrowers to early closure of loan agreements. This rule also applies to those customers who took out a loan before the adoption of the amendment.

True, banks, adapting to new conditions, are trying to compensate for possible losses in various ways, for example:

• set inflated commissions (Home Credit Bank);
• charge a commission for recalculating the payment schedule;
• impose moratoriums for several months and limits on amounts (VTB 24);
• refuse borrowers who abuse early repayments in the following loans (many banks).

If the borrower pays an amount that exceeds the payment indicated in the schedule, but at the same time is insufficient to cover the entire debt, then we are talking about partial repayment.

For example, the loan repayment date under the agreement is September 1, and you have only 6,000 rubles left to pay. By July 1, according to the schedule, you need to deposit 2000 rubles.

You can make 2 payments at the same time - that is, 4000 rubles, but you do not repay the debt in full. Due to the partial overpayment, the amount of the principal debt is reduced.

In this case, the bank is obliged to revise the agreement based on the repayment scheme, for example:

• Annuity schedule(payment in equal amounts) provides for the recalculation of the amount of further payments down. At the same time, the payment is reduced only at the expense of the principal debt, and interest and commission do not decrease.
• Differentiated Schedule(decreasing nature of payments) implies a reduction in the repayment period of the loan.

Thus, in case of partial early repayment, the loan period is reduced or the monthly payments are reduced.

With an annuity payment schedule, in the first years the borrower will pay mostly interest. This can be seen in the payment schedule.

Interest is calculated daily on the balance of the principal debt, and the sooner it decreases, the lower the final overpayment will be.

Thus, if from the very beginning of the loan you actively repay the debt, making amounts exceeding the values ​​\u200b\u200bspecified in the schedule, then the overpayment will decrease significantly.

Active repayment after the expiration of half the term of the loan is not profitable, since the main interest has already been paid, only the body of the loan remains.

With differentiated payments, it is more beneficial for the client to reduce the loan term.

In general, both options are somehow beneficial for the borrower, especially if the bank in the contract has not established any restrictions for early repayment.

If the borrower pays the entire amount long before the date specified in the contract, then we are talking about full early repayment. In this case, the client saves significantly on interest, commissions and is released from debt.

This is beneficial for the client both with an annuity and with a differentiated repayment schedule.

To close the entire debt ahead of schedule, you need to notify the bank of your intention (preferably 30 days in advance), and then deposit the required amount to the repayment account.

The bank writes off the entire amount of the debt from the account and closes the loan agreement unilaterally. In this case, the borrower needs to go to the credit department and take a certificate of no debt in order to protect themselves from subsequent claims.

In some banks, the client is offered to write an application, then the bank employee closes the contract manually.

Which option is used in a particular bank is indicated in the loan agreement.

Full repayment of the loan ahead of schedule - a responsible procedure. It is better to clarify all the details with the bank in order to avoid misunderstandings.

To successfully close a credit debt ahead of schedule, follow this algorithm of actions:

1. Notify the bank within 30 days, write a statement of your intention.
2. Specify the amount owed. If you deposit at least 1 kopeck less, the loan agreement will not be closed.
3. Pay off the debt.
4. Take a certificate of no debt under a closed contract.

With a partial repayment, it is very easy for the client to get confused about how much he still has to pay.

To find out the remaining amount when making additional money in excess of the mandatory payment, you need to contact an employee of the credit department of the bank where the loan was issued.

If the agreement provides for the possibility of paying the loan through the Internet bank, then the amount of the monthly payment, as well as the amount to be paid further, will be calculated by the calculator.

If insurance was paid for when receiving a loan, the borrower has the right to demand that the amount of the insurance premium be recalculated.

True, loan lawyers believe that if the loan agreement is terminated early, the sum insured is equal to zero and the borrower can no longer count on insurance payments.

However, lawyers are ready to defend the right of the borrower in court if, upon application, the bank does not voluntarily recalculate the insurance and return the difference.

There is a myth that early repayment of debt in the bank spoils the credit history. This is not entirely true.

The quality of credit history is directly affected by:

• delays;
• collection of debt from the client through the court;
• inaccurate data specified by the client in the questionnaire;
• a large number of microloans at the same time.

However, you should not abuse early repayments. If the client often repays the debt ahead of schedule, then the next application may be refused.

This is especially true for borrowers who repay loans for a third or half of the term stipulated by the agreement.

Note! There is a so-called "gray list", in which banks enter customers who have repaid the loan more than 3 times ahead of schedule, preventing them from earning the planned amount.

Being on this list can be a reason for a refusal in any bank for a person. By the way, banks are not required to inform the client about the reasons for rejecting the application, so the “grey list” is quite actively used.

Features of early repayment of a loan in Russian banks

Despite the fact that since 2011 the possibility of early repayment of a loan has been legalized in Russia, each bank has certain features regarding this issue.

Sberbank allows early repayment of both mortgage and consumer loans, full and partial repayment is allowed.

For full repayment, you must:

1. Deposit the entire remaining amount into your account.
2. Write an application with a request for early fulfillment of obligations under the loan.
3. Transfer the required amount to the bank account.
4. Wait for the withdrawal of money.
5. Get a certificate of absence of any claims from the bank.

In case of partial repayment, the financial institution recalculates and changes the payment schedule. When making a large amount, as a rule, they reduce the loan term and the amount of further payments.

If the client wishes, Sberbank allows an increase in the volume of regular contributions while reducing the term.

In cases where insurance is issued for a loan, money can be returned to the client only for the unused part of the term. For this purpose, an application is written to the bank or insurer. The sample will be provided by the bank.

What documents are needed? Copies are attached to the application:

• passports;
• loan agreement;
• certificates of no debt.

Advice! First make sure that the contract with the insurance company provides for the return of funds in case of early termination, otherwise it will not be possible to return the money for insurance.

This bank also allows early settlement of the loan, both partial and full. The procedure is carried out at the request of the borrower.

There are 2 types of partial repayments:

• reduction in contributions at the initial term;
• reduction of the term with the condition of maintaining the original amount of payments.

In VTB 24, there are no restrictions and sanctions for borrowers who decide to pay off the bank ahead of schedule. The client can terminate the loan agreement at any time.

A client of VTB 24 Bank planning an early repayment of a loan must contact a bank branch, present their passport and contract number, and write an application.

Features that a VTB client needs to know:

• A written notice is sent to the bank at least 24 hours before the planned repayment.
• Money is paid on any day specified in the application.
• If the money is not received by the bank on the specified date, the client's claim will be cancelled.
• After the early repayment of the loan, you should make sure that the loan is closed.

Early repayment of a loan in this financial institution also involves 2 options:

• reduction of the loan term;
• reduction in payments.

Similarly, it is required to notify the bank of its intention in writing.. In the application, which is submitted before the payment date, you must indicate the amount by which early repayment is made.

A bank employee should be asked for a photocopy of his application with a confirmation of receipt and the seal of the institution. Further, the funds are transferred to the client's account or transferred to the cashier in cash.

Advice! Be sure to make sure that the transferred funds are credited to the balance.

At the time of repayment, the borrower's account must have sufficient funds to repay the entire debt, plus the agreed monthly installment. Otherwise, the loan will not be closed.

Early closing of the loan is the right of any borrower. However, in order to use it most beneficially for yourself, you need to take into account the nuances that are described above in the article.

In addition, early repayments should not be carried away, so as not to deprive yourself of the opportunity to get a loan in the future.

Video: Early repayment of a loan

Credit is a common thing these days. Many people are quite literate in this matter and know that, according to the legislative framework of the Russian Federation, any borrower has the right to early repayment of the loan. This is beneficial to the client, but the financial institution that issued the loan loses its profit in this case.

About early loan repayment

Any loan can be repaid early, but often subject to certain conditions. They are put forward by the bank to prevent the termination of the agreement, because it loses its interest. But the bank cannot completely prohibit early repayment of the loan.

There are two options for early repayment of the loan.

Partial repayment - making a part of the debt, which allows you to reduce the term of the contract or the amount of the monthly payment:

• with a differentiated scheme, by paying a larger amount than required, the client reduces the amount of the overpayment, because interest is calculated on the remaining amount of the debt; can thus reduce the duration of the contract.
• if the loan is paid in annuity payments, then first the borrower pays interest to the bank, and then the main part of the debt; if you repay the loan ahead of schedule, you can reduce the amount of monthly payments, and sometimes the term for their payment;

Full repayment is the closing of all debt on the loan. This can be done by making one payment or several, taking into account all interest, before the next settlement date. After making the payment without fail, the client must make sure that the loan is closed by contacting the bank. For complete certainty, it is better to take a certificate.

Action algorithm

If a person plans to repay his loan ahead of time, then he needs to carefully study his loan agreement. It sets out the procedure for early repayment of debt. Also, certain conditions may be indicated there, according to which it will not be possible to close the loan.

After reviewing the information, you should contact the bank. There you can calculate your debt yourself or with the help of an employee and notify the lender of your desire to pay off the debt. The client must write an appropriate application.

Then it is enough to deposit the required amount on the account. Depending on the financial institution, the loan will be closed automatically or after a second visit to the bank. On the day of debiting funds, you may need to write another application. For example, such an algorithm operates in Sberbank of Russia.

In which case early repayment will not work?

Banks do not like customers who repay loans prematurely, because this does not bring them the desired profit. For those who tend to cancel loans in the first months after they are granted, there is a special "grey list". Such clients are brought in there and no longer offer them loyal lending conditions.

In order to prevent the possibility of early closing of a loan, banks can take the following actions:

• a ban on early repayment during the first month, three months, six months, a year (depending on the conditions and terms);
• permission to pay off debt with an amount not exceeding the monthly payment by more than 2 times;
• establishing a system of penalties for early repayment, which will have to be paid along with the amount of debt;
• a ban on full or partial repayment of the loan without paying interest for the entire period (it does not matter at what point the loan is closed, the amount of the overpayment cannot be reduced).

You should learn about all the nuances of early repayment of a loan before applying for it.

Can I pay off a consumer loan early?

A consumer loan, just like any other, can be repaid ahead of schedule. It is advisable to find out the terms of early repayment before signing the contract. With differential payments, early repayment will reduce the overpayment. When debt payments are annuity, then you need to repay the loan ahead of schedule in the first half of the term. Only in this case, it is possible to reduce the overpayment of the borrower. In the second half, repaying the debt is not very profitable, it is better to use the maximum period provided by the bank.

Early repayment of a mortgage loan

When applying for a mortgage, the loan term is usually the longest possible. Such a loan is issued for several years, and sometimes for several decades, and provides the client with the purchase of real estate. But the issue of overpayment in this case is particularly acute.

Banks are not charities. For the use of credit funds, they charge a small percentage. A significant amount accumulates over the years. Therefore, it is in this case for the borrower to close the loan early means the maximum benefit. If the budget allows, then early repayment makes it possible to purchase housing at minimal cost.

Return of insurance upon early repayment

All banks practice insurance of the borrower against risks. This is how they ensure their safety. Insurance companies guarantee the client the repayment of debt to the bank in case of disability or death.

In some cases, a person may be faced with the choice of obtaining a loan with or without insurance. But most often banks insist on compulsory insurance. This is especially true for large loans, such as car loans or mortgages.

The insurance is valid for the entire period for which the loan was issued. But in the case of its full early repayment, there is a period when insurance has become meaningless, because the client no longer needs it. According to the agreement, in order to close the loan, a person is obliged to repay the entire amount of the debt in full, including payment of insurance. But the money for the unused period of its validity can be returned.

To do this, you need to contact the bank or insurance company. Having provided a passport, a loan agreement, an insurance agreement and a certificate of closing the loan, the client can write an application for a refund. If you do everything right, the money will be transferred to the specified account pretty quickly.

Many problem borrowers are not even aware that it is possible to take out a new loan to pay off other loans they have previously taken and benefit from this. This becomes possible only in cases where the original loan was issued at high interest rates. The main benefit is to reduce the total amount of overpayment on the "old" loan due to more favorable lending terms on the new loan. In the common people, such a procedure is called, which can be carried out in two radically different ways.

First way. Take another loan with which to fulfill the previous loan independently. For example, a client who owes an express loan with an interest rate of 60% per annum can repay the entire amount by taking a new loan at 15%, providing any property as collateral.

As a result, there will be a recalculation of interest and early repayment of the old loan with high interest, and the client will then pay for a completely new loan on more favorable terms for him.

Positive sides. There is a saving of money on overpayments and a loan with a lower interest rate appears.

Negative sides. When applying for a new loan, banks do not take into account that the funds will be used to pay off other debts and, in most cases, they do not welcome refinancing. After all, it is not guaranteed that the money received under the new agreement will be used to early close the existing loan in the "old" bank.

When considering the application, the lender will understand that the client is applying for a second loan and will make payments simultaneously under two agreements. This fact negatively affects the approval rate, especially when both amounts are impressive.

Useful advice. Try to choose a loan with a minimum interest rate, which does not include additional fees, penalties and insurance.

The second way. There is a special one that allows the borrower to take out a loan to pay off another one. Usually it is provided by such significant banks as VTB 24, Sberbank, Rosbank and some others. With the help of this program, it is possible to repay several loans at the same time, and it does not matter whether loans were issued in different banks or in one.

How are loans refinanced?

If you want to repay the loan with another loan, you must contact the bank that provides such a service as refinancing. The procedure for its registration is no different from applying for a regular loan, which means that the applicant must provide a standard set of documents and fill out an application for the provision of this service.

You will need certificates of income from the place of work, as well as from the bank that issued the original loan, with a description of the loan being closed. The bank statement must include information on the interest rate, loan period, monthly payment amount, as well as the amount required for early repayment. In addition, the borrower should take all bank details along with a written confirmation that he has fulfilled his payment obligations to the bank in good faith.

For some time, the bank will consider the application, after which it will make an approval decision or refuse. In the case when a positive answer comes, the final phase of the refinancing procedure is carried out. The client signs the loan agreement, but the money is not given to him. The amount in the established amount is sent to the original creditor and ensures the early closure of the contract. The previous loan will be repaid, and the borrower will acquire a newly concluded contract and is obliged to pay only for it.

Positive sides. This procedure is official and is executed quite simply, especially if the client has a good credit history.

Negative sides. Most often, refinancing is carried out at a standard loan rate, so in the end the client receives a regular loan with the corresponding interest. For example, in the Savings Bank for a simple borrower, this rate is 20.5% per annum.

Useful advice. If you decide repay a loan with another loan, then by all means study all the nuances and calculate all the possible benefits. Despite the fact that the rate of the new loan is much lower, you can lose a lot when paying for insurance, commissions, third-party services (for example, with a mortgage loan, you need to perform a real estate appraisal). Remember that refinancing should only be used if there is an obvious significant benefit, otherwise it will not bring you any savings.

Many of our citizens apply for a variety of bank loans. At the same time, they do not know how profitable and painlessly you can save on overpayment. Which repayment plan should you choose? Can I get my insurance money back?

Let's consider all the questions in more detail.

How to pay off a loan economically, the most profitable schemes

To date, the most profitable loan repayment schemes are considered to be:

• differentiated scheme;
• annuity option.

If we talk about the first option, then it means by itself slight reduction in monthly payments. In simple words, initially it is necessary to pay contributions in large amounts, but in subsequent months the amount decreases.

This scheme is beneficial when applying for mortgage lending or buying a car.

You can calculate the approximate amount using the formula:

interest rate + fixed part = payment.

In this formula, the fixed part is the repayment of the main body of the loan. The percentages themselves are defined as follows:

(balance*bet)/100.

Consider an example: the client received a loan in the amount of 1 million rubles. .The loan period is 20 years and the interest rate is 12%.

Thus, the total amount should be divided by 240 months (20 years), and the monthly fixed amount of 4 thousand 166 rubles is obtained. However, keep in mind that the interest rate will vary. For example, for the first 10 years, when paying 50% of the principal amount of the loan, the amount is calculated:

((0.5 million x 12%) / 1 year) / 100% = 5 thousand rubles. In this way, the total amount of the monthly payment is 9 thousand 166 rubles.

This scheme is perfect for people who:

• receive unstable wages;
• have a desire to significantly reduce the amount of overpayment;
• makes loans for a long period.

If we talk about the annuity option, then it is used by those citizens who apply for user loans.

With such a scheme, calculation of the total cost of the loan in addition to a one-time commission fee. The entire amount is divided by the crediting period. On a monthly basis, the borrower will be required to pay fixed payment.

This option is beneficial in that there are no problems with the size of the monthly payment. The borrower knows when and how much he needs to pay.

This scheme is great for those categories of borrowers who:

• have a stable salary;
• cannot financially contribute more than the amount due;
• makes loans for a short period.

How to pay off a loan early

The possibility of profitable repayment of loans ahead of schedule largely depends on factors such as:

• the presence or absence of penalties for early repayment of the loan. In simple words, is such an opportunity allowed by the bank;
• Does the agreement include a monthly payment plan?

Analysis of the loan agreement

Before the borrower, when funds appear, go to the bank to repay his loan early, you need to pay attention to some nuances:

• with short-term lending periods, the possibility of early repayment of the loan, as a rule, is absent;
• the agreement may provide for a restriction on early payment of the loan in the first 6 months of its use;
• the agreement may include a restriction on the minimum amount of payment for early closing of the loan.

If the contract does not provide for any restrictions, it is possible to consider the issue of early termination of credit obligations (prematurely repay the loan).

What is the procedure for early payment of the loan?

Any of the borrowers has the full right during the term of the loan agreement repay it in full or in part. But, it must be remembered that, despite the absence of restrictions in the contract, the borrower must contact the bank employee and inform him. You must notify of your desire no later than 30 calendar days before the day when the payment for early repayment of the loan is made.

Moreover, when contacting a bank employee, the latter will ask you to draw up an application for the right to early repay the loan. This document is drawn up in the presence of a bank employee according to the model established by them.

How to close a bank loan

It must be remembered that repaying a loan at a bank, for example, at Sberbank, does not mean at all that the loan is completely closed and the bankers have no claims against the borrower.

Consider the procedure for closing a loan using the example of Sberbank. This scheme is suitable for all other banking institutions.

So the algorithm is as follows:

1. 1 step. Initially, you need to ask the bank staff for a certificate that confirms the closing of the loan and the absence of claims. It is worth noting that some banks refuse to provide it, and therefore it is necessary to argue your request with article 15.26, which includes penalties for bank employees who refuse to issue this document. The penalty is imposed in the amount of 50 thousand rubles.
2. 2 step. Complete closure of bank accounts. This implies that accompanying accounts could be opened when applying for a loan. If the manager declares their presence, you must ask him to close them. You may even need to write an application - it is drawn up in the presence of a bank manager.
3. Final step. Mortgaged property. After the loan is fully repaid, it is necessary to remove restrictions on. This should be done automatically by bankers, but being informed means calm. If the encumbrance is not removed, it is necessary to demand the removal of this restriction.

Having performed such simple actions, we can say with confidence that the loan is completely closed and now you should not worry.

How to pay off a loan faster if there is no money

If the borrower, but has a desire to repay the loan as soon as possible, there are several options:

1. Reach out to relatives or friends. This option involves borrowing a certain amount from your relatives or familiar funds that will help you quickly repay the loan. Agree, it is easier for “ours” to repay a debt than to deal with collectors.
2. Get an extra job. Here, as they say, it all depends on the region of residence or on the very desire of the borrower. You can find an evening part-time job that will allow you to quickly pay off the loan or try your luck on freelance sites.
3. Savings or tax deduction. This option implies the use of your deposit (if any, of course). If there are no personal deposits, you can contact the tax office at your place of residence and apply for a tax deduction. As a rule, this will be an amount, approximately 13% of the amount of interest (the loan itself). After receiving the deduction, you can use these funds to pay off the loan.

The loan is paid off, is it possible to return the insurance

In the event that the loan is fully repaid, when trying to return insurance funds, one of several options may occur:

• 1 option. The insurance company may partially reimburse the funds if more than 6 months have already passed since the signing of the contract. As a rule, the insurance company refuses to pay out funds, arguing that this is due to the high costs of administrative support. If the amount of the refund is more than 100 thousand, you can request a printout of the costs of the insurers.
• Option 2. You can fully return insurance funds only in situations where the loan is repaid within the first 2 months from the date of registration of the insurance policy.

In any of the options, you must contact the insurance company with the following list of documents:

• the passport;
• a copy of the loan agreement;
• a certificate from the bank on the full closure of the loan.

When does an insurance company pay out a loan?

Insurers can pay the loan instead of the borrower only in those situations that are specified exclusively in the insurance policy agreement.

There are several types of insurance, namely:

• life insurance and healthier borrower;
• insurance for the safety of property (collateral).

If we talk about the first type of insurance, then this means, for example:

• the death of the borrower;
• establishing the fact of the onset of disability (serious illness, possible disability, and so on).

The second option implies the presence of any damage to the collateral that the borrower himself did not specifically inflict:

• natural disasters;
• fire;
• flood and so on.

It is worth paying attention that all the conditions under which the insurance company repays loans on its own are specified in each specific contract. For this reason, we can say that the conditions are different everywhere and you need to thoroughly study the contracts before signing them.

How to pay off an annuity loan correctly and profitably

With an annuity scheme, the best solution would be to try minimizing the monthly payment and at the same time, without modifying the crediting period.

In simple words, every month the borrower will pay a reduced payment, and postpone the difference from the previous amount.

For example: The loan is for 20 years. For the first 10 years, the borrower will pay not 10,000 rubles, but 7,000. But after 10 years, the loan will need to be repaid at 13,000 rubles.

However, there is a nuance, for 10 years it is possible, with monthly deposits, to accumulate an amount that is enough to repay the loan early and thereby save money.

Recovery by the guarantor of the paid loan from other guarantors

One of the guarantors has the right to recover in court from the second guarantor a certain amount of the loan, only if subsidiary liability is not established.

Article 325 of the Civil Code of the Russian Federation clearly regulates this issue: the fulfillment of subsidiary liability in full releases the remaining guarantors from the fulfillment of creditors' claims.

Moreover, according to article 365 of the Civil Code of the Russian Federation, the guarantors who paid off the debt of the main borrower at their own expense are fully vested with the powers of the creditor in relation to the second guarantor.

This means that he, in a judicial proceeding, has every right to recover not only part of the money, but also to demand a penalty for failure to fulfill his obligations as a guarantor.

Who has to pay the loan after the death of the borrower

In that case, his debt passes to the immediate heirs. But the heirs have every right to avoid such troubles. This is possible only if they do not claim the inheritance.

In simple terms, the loan is paid by the one who inherited from a deceased borrower. If there are none, the remaining amount of the debt is paid by the insurance company.

If the borrower does not pay the loan, should relatives pay?

Relatives of an unscrupulous borrower will have to pay his loan only if one of them is a guarantor, otherwise they have nothing to do with the borrower's debts.

In case of bad faith of the borrower, the funds will be paid by the guarantors.

Liability for non-payment of the loan: what will happen if you do not pay at all

If the borrower refuses to repay the loan, or cannot do it due to financial problems, the bank may charge penalties or impose a penalty.

You can learn more about interest from your contract, in which everything is indicated (each loan prescribes its own terms of punishment).

The worst option is to go to court and bank. The purpose of the withdrawal is considered to be their sale at auction and reimbursement of the loan amount at this expense.

video consultation

About the rules of early repayment - in the program "Morning with the Province"