Take a loan - quite easily, but to give it - very tiring. Debt burden worries and does not allow to fall asleep at night, I want to pay aside and sigh with relief. European banks give loans for low interest rates, so no one has the desire to repay the loan ahead of schedule, but our compatriots seek to free themselves from credit bondage due to too large overpayments. But is it always profitable?
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When making a loan, it is necessary not only to discuss the payment schedule, but also the conditions for early repayment, because it is possible that your financial situation will change for the better, you can pay with all the debts ahead of the deadline. The full repayment of the loan is possible only when enrolling at the expense of the entire amount of the debt along with interest on the use of the loan. And if the borrower does not have the necessary amount of the entire amount, but simply there is an opportunity to make a greater than specified in the contract, the amount or conduct payments to the schedule, then we are talking about early repayment of the loan.
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It would seem that the early repayment of the loan is advantageous not only the borrower, who accounted for debts and sighed with relief, but also a jar that can invest these funds into other operations. But not so, everything is simple: with early repayment of loans, it is especially characteristic of a mortgage, the bank bears certain financial losses. For example, loan rates for this period have dropped, and the bank instead of obtaining large interest from loans, receives early the entire amount of debt, and offer a new loan to its customers may be less profitable for themselves. This is explained by the fact of entering into many credit agreements to prohibit early repayment of the loan or the requirement of paying a certain compensation to the Bank. Some banks (Deltacredit, Uralsib) are permitted early to repay the loan after spending some time after it is received, there is also popular for the agreement on early repayment without a commission of a certain minimum amount, as practicing, for example, Vneshtorgbank.
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In case of early repayment of the loan, consult with an employee of the Bank, otherwise unpleasant consequences may arise. For example, many banks allow extraordinary repayments only after the borrower filed a considerable statement, and the Bank's Committee responded positively. Otherwise, the funds credited to the expense will be written off only in the amount defined in the contract, even if you paid a much greater amount.
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Moreover, some banks apply penalties for early repayment of the loan, which make up to 2% of the repayment amount. Therefore, if you decide to take such a step, calculate that more profitable for you: to diligently pay contributions on schedule or repay the whole amount right away by paying fine.
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Before deciding on early repayment of the loan, it is necessary to take into account this circumstance: if your contract provides for payment of all interest accruals immediately - during the first years of use of the loan, and you only have to pay the "body of a loan", whether it makes sense to premature this amount . In this case, you do not save your funds, except that you get moral satisfaction from the fact that the loan is paid and you will be financially free.
When making a loan, it is necessary to carefully examine the contract items, even those that are printed in small font to provide all the conditions for repayment of the loan. The opportunity to retrieve the loan ahead of schedule very beneficial: you can reduce either the amount of regular contributions or the loan period. It is also possible to be removed in another bank on more pleasant conditions, all these circumstances should be remembered by going to the bank to enter into a loan agreement.
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