Banks have a negative attitude towards loan debtors, however, they do not welcome early repayment of loans, as they are deprived of 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 minimal savings on 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, the Civil Code of the Russian Federation has been amended, 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 term 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 contract.

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

Since last year, the borrower's right to early repayment of the loan has been enshrined in law. Federal Law No. 284-FZ of October 19, 2011, according to which the relevant amendments were made to the Civil Code of the Russian Federation, entered into force on November 1, 2011.

However, having the right does not mean knowing how to use it. What should you pay attention to if you decide to pay off the loan ahead of schedule?

Fully or partially. If the client wishes to repay the debt ahead of schedule, in whole or in part, the bank is obliged to provide him with this opportunity. This applies to any retail loans, including mortgages.

In the case of partial early repayment, the bank, as a rule, offers the borrower two options: by reducing the debt, reduce the monthly payment or shorten the loan term. In this case, the bank is obliged to familiarize the borrower with the new payment schedule.

With full early repayment, the borrower contributes an amount sufficient to repay all current obligations, and the loan agreement is closed.

Notify bank. Legislatively, the borrower has the right to repay the loan ahead of schedule without the consent of the bank, but he is obliged to notify the bank of his intention, moreover, at least 30 days before the repayment date. That is, if your bank requires you to apply for early repayment in advance (for example, VTB 24 - at least 1 day in advance), he has the right to do so. The main thing is that the period set by the bank does not exceed 30 days.

How you can warn the bank - depends on the bank itself. For example, Sberbank and VTB 24 require you to fill out an application at the branch. In Alfa-Bank, for full early repayment, you can simply use an ATM that has the desired menu item (an application for partial repayment is issued at the bank office). Some banks consider an application for full early repayment simply the presence of the required amount on the date of the next payment.

The method by which you can inform the bank of your intention to repay the loan ahead of schedule must be clarified with the bank, or searched for in the relevant documents. In the contract, the procedure for early repayment may not be prescribed, but then there should be a reference to some general lending conditions. Conditions, in turn, should be sought on the official website of the bank.

Terms, amounts, interest. As a rule, early repayment is carried out on the next payment date according to the schedule. In this case, the bank has the right to receive from the borrower the interest accrued until the day the debt is repaid (interest is accrued only for the period of using the loan). Many banks have a minimum prepayment amount. But the bank cannot set restrictions like: "early repayment is allowed after N months after the start of payments on the loan."

For full early repayment, be especially careful about the amount you deposit into your account. If the deposited amount turns out to be at least a penny less than the required amount, there will be no early repayment, and the usual monthly payment will be deducted from the account.

Commissions. By law, the bank is not entitled to take a commission from the borrower for early repayment of the loan. That does not prevent some banks from setting commissions, for example, for recalculating the payment schedule. Therefore, when you see "early repayment without commissions" in the terms of lending, do not rush to draw conclusions. You should either carefully study the loan agreement, or clarify the information with the bank.

Control the bank. So, the day for which early repayment was scheduled has passed. Take the time and contact the bank to make sure that the debt is actually repaid. Especially when it comes to full early repayment of the loan. It will not be superfluous to take a certificate from the bank that there is no debt under your loan agreement in order to avoid annoying misunderstandings. If the repayment was partial - check the account statement for repaying the loan.

Procedure. Let's determine what needs to be done by the borrower who is going to repay the loan ahead of schedule:

1. Call the bank's specialists or look at the loan agreement to find out how to warn the bank about the intention to repay the loan ahead of schedule.
2. Specify the next date on which the loan can be repaid.
3. Find out the exact amount due (especially for the case of full early repayment). You do not need to try to calculate the amount yourself, it is better to clarify it at the bank or through a remote service system (for example, in the Internet Bank).
4. Warn the bank about early repayment.
5. Make sure that the early repayment went through correctly.

So, if you are going to pay off the loan ahead of schedule, approach this matter responsibly. It is better to contact the bank once again to clarify the details than to have an unpleasant surprise later in the form of unexpected debt and / or a damaged credit history.

In this article, we will look at everything related to early repayment of a loan - what does early repayment of a loan mean, what does full early repayment of a loan mean, how to calculate early repayment of a loan, rules, and is there any compensation for early repayment of a loan.

Early repayment of the loan- this is the process of early termination of a loan agreement with a credit institution by paying the entire amount of the debt. In other words, early repayment of a loan is a settlement of your loan obligations to the bank earlier than it is provided for in the loan agreement.

There are always a lot of questions from the population about early repayment of loans, because everyone has already learned how to take a loan, but few have tried how to close a loan ahead of time, and in general, not everyone fully understands why this is necessary, what is possible and what is not in case of early repayment, and what does the legislation of the Russian Federation say about this.

Let's get started!

Types of repayment

In fact, early repayment of a loan can be used as one of the methods, but this method is not included in the canonical methods of restructuring, although reasonable people can use it as the only competent method of restructuring their debts, since others do not work in Russia.

Why use early loan repayment as a debt restructuring? Why do you need to restructure debt at all?

Each bank in its own way presents the methodology and terms for early repayment of the loan, but tries to rely on the Civil Code of the Russian Federation.

ATTENTION! IN In 2011, amendment No. 284-FZ “On Amendments to Articles 809 and 810 Part 2 of the Civil Code of the Russian Federation” was adopted. From which it follows that banks no longer have the right to fine borrowers for early repayment of the loan, as well as not entitled to demand payment of interest accrued over the date of early repayment of the loan. A the borrower, in turn, is obliged to warn the creditor in writing about your intention to repay the loan ahead of schedule minimum 30 days before realizing their intentions. But at the same time banks have the right to refuse borrowers early repayment of the loan(this is already the banking lobby in action).

Early repayment of a loan can be of two types:

• full early repayment of the loan
• partial early repayment of the loan

Full early repayment of the loan involves the full repayment of the entire balance of the debt on the loan as of the current moment. Read the article about how to correctly know how much you need to repay.

Partial early repayment of the loan- this is a partial, incomplete, repayment of the balance of the debt on the loan, most often exceeding the amount of the monthly payment. As a result of partial early repayment either the amount of the subsequent monthly payment is reduced, or the loan term. It is understandable, with such a payment you, as it were, close more months in the payment schedule than it should be.

If the body of your debt has decreased as a result of partial repayment, then the bank is obliged to reorganize the payment schedule and recalculate the amount of accrued interest and you must not forget to pick it up from the bank.

But all this is only possible if the loan agreement with the bank does not partially prohibit early repayment of the loan. And also, if you act in agreement with the bank.

How to calculate

Everyone and everything needs to be controlled! Do not blindly believe that the bank will independently and honestly calculate the amount of your debt at the time of early repayment of the loan. It's best to check everything yourself.

SPDP \u003d OD + P

P \u003d OD * SK * Days / 365/100

SPDP - the amount of full early repayment of the loan

OD - principal debt for the body of the loan

P - interest for using the loan

SC - loan rate in annual terms

Days - the number of days you have used the borrowed money.

For ease of calculating your balance of debt in case of early repayment of a loan, you can use the online calculator for early repayment of a loan on the Internet.

But this method does not even guarantee 90% certainty, just like the above formula. If, as a result of independent calculations, you owe the bank 2 rubles, then it will then zamytar you. Do you need it?

Early redemption rules

In order to feel like a fish in water, in the matter of early repayment of loans, you need to know the golden rules for early repayment of a loan:

1. Possible full or partial repayment of the loan. These are two different forms of early repayment of a loan, they are described a little higher.
2. With partial early repayment of the loan either the term or the monthly payment is reduced.
   In case of partial early repayment of the loan, the bank is obliged to rebuild the payment schedule for you
3. In case of partial early repayment of the loan, the deposited the payment amount must be greater than the monthly payment amount, otherwise the payment will be counted as the next monthly fee
4. Need to be given special attention to the miscalculation of the amount of debt, do not do it yourself, but instruct a bank employee
5. Notify the bank about the early repayment of the loan in writing about your intentions
6. No commission charged for early repayment
7. Monitor bank transactions and transactions
8. You can repay the loan ahead of schedule in 1 month, after its registration (this is the law), and in some banks much earlier
9. As a result, receive a written confirmation from the bank that there is no debt

ATTENTION! Pay attention to the loan agreement. The law allows you to repay the loan ahead of schedule after 1 month, after you have issued it. If the bank has some other terms specified in the contract, then they violate the law, but in order to prove this, you need to start suing the bank. Otherwise, employees of the credit institution will poke you into the loan agreement you signed.

Compensation for early repayment

A fairly common question from "green" users of credit services is the question - is there any compensation for early repayment of the loan?

Read also

Features of mortgage lending in Sberbank

We will answer it separately so that it is clear to everyone and forever.

There is no compensation for early repayment of the loan! Neither the bank nor the legislation of the Russian Federation has thought of this yet. This has never been practiced and probably will not be practiced.

From which buoy should the bank compensate you for something? Have you lost something, spent something?

If we are talking about the return of insurance upon early repayment of a loan or the return of interest, then these are completely different things (the bank returns them in some cases), but it is very difficult to recognize them as a form of compensation in terms of semantic load.

Order

In general, the procedure for early repayment of the loan looks very simple.

ATTENTION! If in your city, for one reason or another, there is no longer that branch of the bank where you took out a loan, and the nearest one is several hundred kilometers, then early repayment of the loan can be remotely. The most difficult thing in this case will be to apply for early repayment of the loan in this bank. You can do this by Russian Post: send a registered letter to the bank's address with acknowledgment of receipt and a description of the attachment. It is better to do this 30 days before the planned date of early repayment of the loan, so that everything is in accordance with the law. And only then pay off the loan in any remote way. Do not be afraid that you did not visit the bank, that you did not communicate with the employee, that he did not sign anywhere, this method of loan repayment is very legally reliable for any resolution of contradictions in court.

In other standard situations, it is more correct to do the following progressive actions:

• visit your bank branch
• consult with a bank employee about the terms and procedure for early repayment of the loan in general
• ask the employee to calculate the early repayment of the loan (if possible, check the correctness of the calculations at home)
• take the form loan repayment applications, fill it in duplicate
• and submit an application in accordance with the requirements of the bank for the deadlines for submission (as a result, the bank employee is obliged to put a mark on the acceptance of the application for consideration)
• further, it is possible to visit the bank branches again to pay the amount of the debt through the cash desk of the bank
• or pay the amount of debt in other ways (through a bank ATM, terminal, personal account on the bank's website, etc.)

But if you decide to do everything in order not to visit the bank office (whether it is an independent calculation of the amount of early repayment of the loan, an independent search for sample applications on the Internet, etc.), in our opinion, this is not entirely true, and can lead to critical errors. It is easier and better not to be too lazy and go to the bank branch where you are going to repay the loan ahead of schedule.

Conditions

The conditions for early repayment of the loan are quite diverse and very much depend on the particular bank. The variety most often concerns the terms of early repayment (some banks allow repayment of the loan the very next day after issuance), the timing and form of the application, and so on.

The average term for which a mortgage loan is issued in the Russian Federation is about 15 years. But many mortgage borrowers are determined to close it much sooner. How to arrange early repayment of a mortgage and avoid unnecessary expenses?

Mortgage payment ahead of schedule

Is it possible to pay off a mortgage early? In accordance with Russian legislation, the borrower has the right to early full or partial repayment of mortgage obligations. Banks are prohibited from refusing to exercise this right to a client. The borrower is obliged to notify the banking organization of his desire for early repayment of the mortgage no later than 30 days before the expected event. Banks, at their own discretion, may extend or shorten the period for such notification.

The client can close the mortgage by paying the bank in full at a time the entire balance of the borrowed amount with interest or pay off part of the debt. In the latter case, a revision of the mortgage agreement is practiced in the direction of reducing the loan term or the monthly payment amount.

The right of the borrower to fully repay the mortgage earlier than the term specified in the contract without financial sanctions from the banking structure is enshrined in law.

Full early repayment of a housing loan: step by step instructions

In today's realities, the answer is unequivocal - profitable. A few years ago, having received a certain amount that would allow them to fully pay off the loan taken, the borrower preferred to draw up a deposit agreement, thus blocking the loan interest payment with the income from the deposit. Today it is more profitable to close the mortgage debt and remove the extra financial burden from the family or personal budget.

Having decided to pay off the housing loan ahead of schedule, the borrower is obliged to notify the bank about it. It is recommended to personally visit the branch of the banking organization in which the loan was issued, inform about your intentions and clarify all issues related to this procedure. The client must obtain from the bank information on the full amount of debt with accrued interest, which he undertakes to repay.

ahead of schedule? To do this, you need to perform several actions:

1. Notify the bank of your desire (personally visit the branch, send a registered letter).
2. Select a date for the full payment of the loan. It must be a working day.
3. Contact the bank manager, agree on the date of payment, clarify the full amount of the debt with interest, payment method - in cash at the bank's cash desk, by bank transfer. In the latter case, it is necessary to select in advance the method of non-cash payment and clarify the fee for the service of transferring funds to the account of the banking structure - creditor. The entire amount of the debt to the penny must be transferred to the bank account, otherwise the loan will be considered outstanding.
4. Pay off the debt.
5. Contact the bank manager to clarify whether the mortgage loan has been repaid. In some cases, you can request from the bank an appropriate certificate of full settlement of the loan.

When closing a mortgage by bank transfer, you should clarify in advance the cost of services of a financial institution for transferring money to a creditor bank and take it into account in the total amount of the payment.

Partial early repayment of a mortgage loan

By issuing a loan, bankers expect to receive a certain amount of profit within a certain time. In the loan agreement, they may prescribe separate rules for early repayment of the mortgage. This may be a moratorium on full or partial repayment during the first few months, refusal to revise the loan term in favor of revising the amount of monthly payments, determining the minimum amount required to fully repay the loan.

Also, in order to protect their interests from borrowers who rely on a “quick mortgage”, banks impose an annuity calculation method on customers when applying for a housing loan, in which the monthly payment amount remains unchanged throughout the entire loan term, that is, payment is made in equal installments.

With this method of payment of credit obligations, in the first years of the mortgage, the payment is formed mainly due to interest, the body of the loan itself (that is, the amount taken) is repaid in small volumes. In subsequent years, the structure of the monthly payment changes, the share of the body of the loan increases, and the share of the interest rate decreases.

With an annuity method of repaying a mortgage in the first years after its registration, almost the entire amount of payments goes to pay off interest on the loan.

When paying a mortgage with differentiated payments, each monthly payment is less than the previous one, since the principal debt is repaid in equal installments, and the interest rate is calculated on the balance of the loan body, which is constantly decreasing. Does it make sense to pay off the mortgage ahead of schedule with annuity and differentiated payment methods?

Early repayment of a mortgage with annuity payments: when is it profitable to pay

If possible, experts recommend paying off the mortgage as much as possible in the first 5 years after taking it. The bank will recalculate the loan payment amount based on the reduced loan body, so the borrower will be able to save. In subsequent periods, partial repayment of mortgage debt is no longer so profitable, because it is in this first period that the bank receives its main profit for the estimated loan period.

Early closing of a mortgage, which is paid in an annuity way, is especially beneficial in the first 5 years after taking it.

When studying the problem of early closing of a mortgage loan, borrowers are interested in the following questions: are interest recalculated upon early repayment of the mortgage, is the principal or interest repaid? The interest rate itself remains unchanged throughout the entire term of the loan, but the amount of accrued interest varies depending on the amount of the remaining body of the loan. The funds are directed to repay the main loan, then the payment for the loan taken is recalculated based on the reduced amount of the loan body, interest rate and loan term. If the mortgage is paid off ahead of schedule, then interest is charged on the balance of the amount, then it is broken down into monthly payments and the borrower then repays the debt in equal amounts during the remaining period.

After partial early payment of the debt in excess of the estimated amount, the borrower and the bank conclude an additional agreement, which provides for:

• - reduction of the amount of the monthly payment;
• - or reduction of the total term of crediting.

Some banking structures strive to keep the client as long as possible, so they offer the first option. It is most suitable for borrowers whose monthly payment is 50 percent or more of the family (personal) budget. Thus, they have the opportunity to direct the released financial resources to other needs.

Some banking structures in mortgage agreements initially indicate that they do not reduce the loan terms. The conditions for early repayment of the mortgage must be specified in the mortgage agreement, discussed with representatives of the banking structure before its conclusion, and must be clear to all parties to the transaction.

Is it worth paying off the mortgage ahead of schedule with a differentiated payment method

Partial early repayment of a mortgage with a differentiated payment method is also clearly beneficial for the borrower. In this case, the entire amount of the overpayment is directed to repay the body of the loan, respectively, the amount of the calculated interest rate is reduced and further monthly amounts are automatically recalculated.

How profitable it is to repay the loan ahead of schedule, what to choose later (reducing the loan term or the amount of monthly payments) can be calculated using the loan calculator presented on the website of the lender bank. When choosing a mortgage product, you can immediately check with the manager the possibility and procedure for early repayment of the mortgage, ask to calculate the benefits of early repayment of the mortgage at different stages of the return of the borrowed funds.

Early repayment of a mortgage with maternity capital

In some banking products, the possibility of repaying the mortgage taken at the expense of the parent certificate is initially prescribed. To do this, you need to contact the bank, clarify the possibility of repaying the debt with maternity capital, take the relevant certificate from the banking organization, collect the necessary documents and submit them to the office of the Pension Fund of the Russian Federation. The authorized structure, having considered the package of documents, if the issue is resolved positively, transfers the indicated funds to the account of the creditor bank as repayment of part of the mortgage debt. Find out how to repay the mortgage early with parental funds, at what stage this is possible, should be done in advance, before concluding a mortgage agreement with a bank representative.

With maternity capital, you can only pay for the body of the loan; it is impossible to pay off interest, fines, and penalties at the expense of these funds.

Return of insurance for early repayment of the mortgage

To minimize the risks of non-payment of mortgage debt, banks practice compulsory or voluntary insurance of mortgage or other mortgage housing, life, health of the title borrower. The insurance contract is concluded for the entire term of the loan agreement, payment can be made both one-time and for certain periods. In case of full early repayment of the mortgage, the borrower has the right to demand from the insurance company the return of the amount that provided risk insurance for the period remaining for the loan repayment.

Refund of part of the insurance amount is possible:

• - if the mortgage is repaid in full;
• - no insured event occurred;
• - the amount of insurance is paid for a period longer than the actual one.

To return part of the insurance, the borrower must collect and submit the following documents to the insurance company:

• - passport;
• - mortgage agreement;
• - insurance contract;
• - bank certificate on early repayment of the loan;
• - payment documents confirming the payment of insurance premiums;
• - an application for the return of previously paid insurance premiums for a period that has not come.

Experts recommend that the borrower not delay the deadlines for submitting an application for the return of part of the insurance premiums. After repayment of the housing loan, it is necessary to collect the necessary documents within a month and submit them to the insurance company. If the company refuses to return the funds, this should be recorded in writing for further appeal to the court.

Pitfalls of early mortgage closure

Along with many positive factors of early repayment of a housing loan, experts note a number of other points that a borrower needs to take into account. Early repayment of a home loan is not beneficial for a banking organization, so it can delay the process, and for a client, this means an overpayment of interest. An application for early repayment should be sent to the lender in advance, taking into account the terms of the loan agreement, everything must be done in writing, leaving a second copy of the document with the bank's mark of its acceptance.

Many borrowers ask when is the best time to pay off a mortgage early? It is profitable to partially or completely repay the mortgage in the first few years of the loan repayment, in the future, the profitability of this process decreases. In this case, if there is a certain amount of free money, experts recommend considering investing it in other real estate or on a bank deposit to generate additional income, which will cover loan payments.

Any citizen can repay a loan in Sberbank ahead of schedule, subject to the conditions prescribed in the contract. For a financial institution, such a turn of events is unfavorable, since it loses its interest. Therefore, contrary to public opinion, paying off debt ahead of time negatively affects a person’s credit history (). The client, on the contrary, wins if the loan is repaid early. Firstly, he withdraws from his debt obligations, and secondly, he gives the bank less money in the form of interest.

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Previously, banks, when repaying a loan by a client earlier than the deadline prescribed in the contract, withheld various fines and commissions. To date, this practice has not been applied.

There are two types of early repayment in Sberbank:

1. Full loan repayment. Enter the amount, write an application, wait for the date of debiting the funds. Usually they are debited on the date of the next monthly payment. Do not forget to get a certificate of absence of debt obligations to the bank.
2. Partial early repayment. In this case, the schedule is recalculated and changed depending on the situation.
   • If you make a large partial repayment at one time, the loan term or further monthly payments may be reduced;
   • If you want to repay the loan more intensively, by increasing the amount of regular payments at your own request, the loan term can also be reduced.

How to close a loan early in Sberbank

The general procedure for early repayment at Sberbank, regardless of whether it was issued or a mortgage, is quite simple, but you first need to study and take into account some of the nuances.

1. Read your loan agreement. It usually indicates the period before which the loan cannot be repaid (it can be 1 month, or 4 months, depending on the program).
2. In 30 days, 3 months or half a year (depending on the conditions), the bank must be notified of your intention to repay your debt ahead of time.

In general, full or partial early repayment of the debt is carried out in several steps:

1. First you need to decide whether you want to repay the previously acquired loan in full or in part. If partially, how much of the monthly payment would you like to set.
2. Notify the bank of your intention. Ask a specialist to recalculate the interest on your loan and announce the approximate amount to be repaid.
3. Replenish the account from which the money will be debited with the required amount.
4. Contact the nearest (but preferably the branch where you applied for the loan) on the day when you have to make the next monthly payment, and write a corresponding application.
5. Wait for the funds to be written off if you decide to close the debt completely. Or get a new payment schedule if you close partially.
6. Do not forget, if necessary, to take a certificate of no debt to the bank.

IMPORTANT: the application is written on the day when the next monthly payment is due, since the funds are debited on the set date. If you deposit money into the account and write an application earlier, then there may not be enough money to cover the debt. Recalculations are made on the day of application. If you contacted the bank 5 days earlier before the date of debiting, then the interest for using the loan for these 5 days will not be taken into account. Hence, problems may arise in the form of the remaining credit debt.

Please also note that early repayment of a loan at Sberbank with annuity payments will be slightly different from the situation with. In the second option, interest for use is accrued unevenly, on the balance of the debt, and the amount of payments decreases every month.

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To determine the approximate amount that will be required to pay the debt and recalculate the interest, you can contact the nearest branch to the bank operator, or use the online early repayment calculator and calculate everything yourself without leaving your home.

How to return the insurance in case of early repayment of the loan?

Often, along with a loan agreement, you also have to draw up an insurance agreement. This is required by banks to reduce their own risks. Such an insurance contract incurs additional costs. Its essence is that insurance is paid from your credit money throughout the entire period of the loan.

But when the loan is repaid, the need for insurance, which you paid in advance, disappears. By law, these Usually, the amount that was paid for the unused credit period is subject to a refund.

To return the unused part of the insurance, you must:

1. Contact the bank or directly the insurance company with a statement of the established form. A sample application can be requested from the staff at the branch.
2. Provide the necessary documents (copy of the passport, copy of the loan agreement, certificate of no debt to the bank).
3. Wait for consideration and a decision on your request.
4. Wait for the funds to be credited to the account you specified in the application.

IMPORTANT: before applying for a refund of the unused part of the insurance, carefully study your contract with the insurance company. The conditions for termination and return of funds must be spelled out there, namely, it is indicated that upon termination of the contract at the initiative of the client due to the early fulfillment of debt obligations, the remaining part of the funds must be returned to the client. If these conditions are not spelled out, the money will not be returned.

In general, the procedure for early repayment of a loan at Sberbank is simple and does not take much time. Despite the fact that this is not very profitable for the bank from the financial side, because it loses its interest, the procedure is free. If you have decided to repay the loan before the deadline specified in the agreement, do not forget to notify your bank in advance.

Answers to popular questions

Question: Is it possible to pay off the mortgage ahead of schedule in Sberbank?

Answer: yes, Sberbank provides for the possibility of full or partial early repayment of the mortgage. You can close the mortgage by making a lump sum payment of the remaining amount owed. Or pay every month, once a quarter, every six months an amount in excess of the established monthly payment, while submitting a corresponding application to the bank in advance. Thus, the debt will be reduced faster, and the mortgage will be paid off ahead of time. Accordingly, the client will pay less interest on the loan.

Question: Can a bank demand early repayment of a loan?

Answer: yes, if it is written in the terms of the loan agreement. And such conditions are prescribed almost always. The bank may demand full early repayment of the loan if the borrower maliciously violates the terms of the contract, that is, does not pay the debt. This issue is resolved in court.

Question: is it profitable to pay off a loan at Sberbank ahead of schedule?

Answer: yes, it is beneficial for the client from a financial point of view, since he gives less money in the form of interest than was originally planned. But early repayment negatively affects a person’s credit history, since banks do not like “early dues”, because they lose their interest. Therefore, it is possible that in the future the bank will be more strict with you when considering a loan application and will lend you money less willingly and on less attractive terms.