How to calculate the balance of the loan

The question of how to calculate the balance of the loan may arise if the borrower decided to repay the loan ahead of schedule. Is it possible to do it yourself and how to calculate how much money you should give to the bank to pay with it one afternoon?

First of all, calculate the bulk that you must return to the bank. Make it easy. For example, you took a loan of 20,000 rubles from the bank for a period of 10 months. Every month you paid 2,000 rubles, and only it lasted 6 months. Those. You have already paid 12,000 rubles to the bank. Then the residue will be 8,000 rubles - this will be the main amount of debt.

Money

For this amount, calculate the accrued interest. Their size is indicated in a separate column of the payment schedule. For example, take 13% monthly. Then 8,000 rubles multiply by 13% and we get 1,040 rubles.

Then the most unpleasant is the calculation of the Commission. These are all mandatory payments made to the loan agreement. As practice shows, almost all banks provide unchanged commissions for their services and make this item to the treaty. It is here that it will be written what commission you are obliged to pay for the bank services monthly, let's say - 300 rubles. If you pay a loan ahead of schedule, for example, for 4 months earlier, the Commission will also have to pay the bank for the same four months. Then 300 rubles are multiplied by 4 months and get 1,200 rubles.

We calculate the entire amount that you must return the jar: 8,000 + 1 040 + 1 200 \u003d 10 240 rubles. The amount of 10 240 rubles and there is a loan balance.

This example of the calculation may be approximate, because in each particular bank there may be their conditions for early repayment of the loan. You can easily calculate the balance of the loan on the website of your bank. Today, all credit organizations provide such an opportunity in the form of a special calculator - calculating the amount of early repayment of the loan. You will need only to contribute data from your contract and payment graphics in the calculator graph.

Please note that the repayment of the loan for each bank can follow different schemes. Some banks break the body of the loan and interest on it on equal parts, others apply the differentiated system. Therefore, it is best to contact a bank, where a lending specialist will make an accurate calculation and explain each figure of the alleged final payment.