Agreement consumer loan(loan) consists of general and individual conditions. The general conditions are established by the creditor unilaterally for the purpose of repeated application (Parts 1, 3, Article 5 of the Law of December 21, 2013 N 353-FZ).

The individual terms of the agreement are agreed upon by the lender and the borrower individually. They are reflected in the form of a table in the established form, starting from the first page of the contract, and include, in particular, the following conditions (Part 9, 12, Article 5 of Law No. 353-FZ).

1. Credit (loan) amount or credit limit

The amount of credit (loan) is the volume Money provided to the borrower. The credit limit is maximum amount funds that can be provided to the borrower, or maximum size his one-time debt to the creditor under the agreement, under the terms of which partial use of a consumer credit (loan) is allowed (clause 1 of Article 807, clause 1 of Article 819 of the Civil Code of the Russian Federation; clause 4 of part 1 of article 3, clause 1 Part 9, Article 5 of Law No. 353-FZ).

2. Duration of the agreement and repayment period of the loan (loan)

The borrower may repay the credit (loan) amount ahead of schedule in full or in part by notifying the lender at least 30 calendar days before the day of repayment, unless the agreement establishes a shorter period for notification.

Without prior notice to the lender, the borrower has the right, within 14 calendar days from the date of receipt of the loan (loan), to return it early with payment of interest for the actual loan period. If provided targeted loan(loan), the borrower has the right, within 30 calendar days from the date of its receipt, to early repay the entire amount of the loan (loan) or part thereof with payment of interest for the actual loan period, also without prior notice to the lender (clause 2 of Article 810, clause 2 of Art. 819 of the Civil Code of the Russian Federation; clause 2, part 9, article 5, part 2 - 4, article 11 of Law No. 353-FZ).

3. Credit (loan) currency

Consumer loans (loans) can be issued in Russian or foreign currency. At the same time, microfinance organizations (MFOs) do not have the right to issue consumer loans in foreign currency (clause 3, part 9, article 5 of Law N 353-FZ; part 2.1, article 3, clause 3, part 1, article 12 of the Law dated 07/02/2010 N 151-FZ).

4. Amount and procedure for paying interest for using a credit (loan)

The credit agreement (loan agreement) is of a paid nature, and it must reflect the condition of interest, which represents a fee for the use of money (clause 1 of article 819 of the Civil Code of the Russian Federation; clause 4 of part 9 of article 5 of Law No. 353- Federal Law).

Under short-term (up to a year) consumer microloan agreements concluded from January 1, 2017, microfinance organizations do not have the right to charge interest in excess of three times the loan amount. For agreements concluded between 03/29/2016 and 12/31/2016, such a prohibition applies if the amount of accrued interest and other payments under the agreement (except for penalties and fees for additional services) is four times the loan amount (clause 9, part 1 Article 12 of Law No. 151-FZ; Part 7 of Article 22 of Law dated July 3, 2016 No. 230-FZ).

5. Number, size and frequency (timing) of payments

The number, size and frequency (timing) of his payments or the procedure for determining them, as well as the procedure for changing them in case of partial early repayment of the loan (loan) must be agreed with the borrower. Payments can be divided into those included and not included in the calculation of the total cost of the loan (loan). The second, in particular, includes payments related to non-fulfillment or improper fulfillment by the borrower of the terms of the agreement (clauses 6, 7, part 9, article 5, parts 4, 5, article 6 of Law N 353-FZ).

6. Procedure for repaying the loan (loan)

Repayment (repayment) of a credit (loan), as a rule, is carried out by the lender debiting funds from the borrower’s account according to his payment order or without it without acceptance. The agreement must provide for a free way to repay the loan (loan) in locality at the place of its receipt or at the location of the borrower (clause 8, part 9, part 22, article 5 of Law No. 353-FZ).

7. Full cost of the loan (loan)

The full cost of the loan (loan) must be placed in the upper right corner of the first page of the agreement (Part 1, Article 6 of Law No. 353-FZ).

The calculation of this cost includes payments (Part 4, Article 6 of Law No. 353-FZ):

• for repayment of principal and interest;
• issue and maintenance fee electronic means payment;
• payments in favor of third parties, if the issuance of a credit (loan) is made dependent on the conclusion of an agreement with a third party (for example, in favor of an insurance company when insuring the life of the borrower, his liability or the collateral);
• the amount of the insurance premium under the insurance agreement, if the beneficiary is not the borrower or his close relative, or if, in connection with the conclusion of such an agreement, the lender offers other terms of the credit (loan) agreement, including regarding the period of its repayment or the full cost;
• payments in favor of the lender, if the issuance of a credit (loan) is made dependent on the completion of such payments (for example, bank commissions).

Note!

Charging a commission for issuance credit funds illegal ( Part 19 Art. 5 of Law No. 353-FZ).

8. Borrower's responsibility

The agreement may establish the borrower's responsibility for improper execution its conditions, the amount of the penalty (fine, penalty) or the procedure for determining them (clause 12, part 9, article 5 of Law No. 353-FZ).

Moreover, if the borrower does not repay the loan amount on time, in addition to interest for using the loan (loan), interest is accrued for failure to fulfill a monetary obligation. If there is a delay in paying interest for using a loan (credit), interest may also be collected for failure to fulfill a monetary obligation or a penalty established by the agreement (clause 1, 4, article 395, clause 1, article 811 of the Civil Code of the Russian Federation).

In addition, if the borrower violates the deadlines for repaying the loan (loan) or paying interest, the lender may demand early repayment of the entire remaining amount of the loan (loan) along with the interest due (Article 14 of Law No. 353-FZ).

If there is a delay in repaying the loan amount or paying interest under short-term consumer microloan agreements concluded from January 1, 2017, the microfinance organization has the right to continue to charge interest for using the loan only on the outstanding portion of the principal amount. Such interest accrues until the total amount of interest payable is equal to twice the amount of the outstanding portion of the loan. At the same time, the MFO also has the right to charge penalties (fines, penalties) and other measures of liability on the outstanding portion of the principal amount (Parts 1, 2, Article 12.1 of Law No. 151-FZ).

The agreement may contain a condition on the possibility of prohibiting the assignment by the creditor of rights (claims) under the agreement to third parties (Clause 13, Part 9, Article 5, Part 1, Article 12 of Law No. 353-FZ).

10. Purposes of using credit (loan)

The agreement may include a condition on the borrower using the credit (loan) for certain purposes. Moreover, if the borrower violates the intended use of the credit (loan), the lender has the right to refuse further lending to the borrower under the agreement and (or) demand full early repayment of the credit (loan) (Clause 11, Part 9, Article 5, Part 13, Article 7 Law N 353-FZ).

11. Indication of the need for the borrower to enter into other agreements

The agreement may include an indication of the need for the borrower to conclude other agreements required for the conclusion or execution of a consumer credit (loan) agreement, for example, an insurance agreement (Clause 9, Part 9, Article 5 of Law No. 353-FZ).

In addition to those indicated, other conditions may be included in the individual terms of the contract. If General terms the agreement contradicts its individual conditions, the latter apply (Part 10, Article 5 of Law No. 353-FZ).

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Most of the population Russian Federation I am familiar with such a banking product as a loan. In addition to taking out mortgages and car loans, clients take out loans to purchase household appliances, expensive clothing or jewelry. All general and individual terms of the consumer loan agreement - a document that legally confirms the financial relationship between the borrower and the bank - must be specified.

Features of the agreement

The agreement is drawn up in order to formally regulate the relationship between the bank and its client. The financial company agrees to provide him with a loan for a certain period at a fixed interest rate. And the person who has entered into a consumer loan agreement with the bank is obliged to repay the borrowed funds on time and the overpayment on the specified date.

According to the law, the document may also indicate the conditions for insuring the collateral property or the life of the client. Although many organizations have developed their own forms, there are general terms of a consumer loan agreement:

• the borrower signs voluntarily;
• the document can only be concluded on the territory of the Russian Federation;
• The client carefully studies the conditions and, by signing, indicates his agreement with them and the obligation to comply with them.

In the agreement, most financial companies indicate a provision according to which the lender issues a loan voluntarily, and not due to forced circumstances. The document must have a general and an individual part; both must operate in accordance with the law. After signing, the opportunity to make any amendments disappears, so you need to carefully read the information. If the client is not satisfied with the loan conditions, then he needs to find a more suitable bank.

General terms

The general conditions of a consumer loan are the parameters that the bank has developed for all clients without exception. They cannot change under any pretext. Typically, provisions include several points:

• bank contact numbers.

• full name of the financial company;
• actual and legal address;
• details and current accounts of the organization;
• bank contact numbers.

The rules for completing questionnaires, submitting applications, and making decisions by the banking committee remain the same for all borrowers. Information about all available to them remains the same for clients. banking products, rates and compulsory insurance. The amounts for a certain type of loan and other payments do not depend on the work of specific lenders.

Debt repayment options also remain common. They are laid out in the contract, and the client can choose the method that suits him. Some types of loans provide an initial fee, provision of collateral or guarantors. The contract also contains a clause on the borrower’s obligations, although it is often skipped. This part contains information about fines, penalties, penalties, and the specifics of paying payments on foreign currency debts.

Common features include the possibility of reselling property rights, reports on the disposal of funds received, and rules for resolving emerging demands. If the client sees only individual conditions in the contract, then the bank employee is obliged to provide him with a link where he can download and read the general clauses.

Individual parameters

After familiarizing yourself with the general conditions for issuing a consumer loan, you must carefully examine the individual clauses. Each form must contain a tabular form with specific requirements and rules. Neither the lender nor his borrower can change the information contained. A blank column must be filled with a dash.

Banks can add their own conditions, but they must be close to the mandatory ones:

• lending period;
• currency and loan amount;
• interest rate, the method of its calculation and the amount of overpayment for each year;
• the amount of monthly payments and the dates of their payment;
• possibility of early closure;
• methods of obtaining a loan - in cash, to a bank account or card.

If the company offers the conclusion of additional contracts, then this should also be provided for in individual conditions. All information about guarantors and collateral is entered into the form.

Free sections

Until 2014, banks had the right to charge their clients an additional commission for concluding an agreement, printing it and calculating regular payments. Now, in accordance with the law, an agreement with general conditions must be signed free of charge without auxiliary payments from the borrower.

The only thing the company can ask for individual pay is the paper on which the document will be printed. But this usually happens only in private credit firms; state banks do not pay attention to such trifles and give the entire package of forms to the client for free. The borrower should not make any thanks or contributions, even at the request of an employee of the organization.

Possibility of loan waiver

According to current legislation, the client has the right to refuse to collect the debt even after signing the contract. But this procedure is only possible if the money has not yet been issued. Article 807 of the Civil Code of the Russian Federation states that the document comes into force not at the time of signing, but during the transfer of funds from the lender to the borrower.

If the client has already signed the agreement and all accompanying documents, but has not yet received the borrowed amount at the cash desk, then he can change his mind, return to the bank employee and terminate the agreement. But if the borrower has already been given the money, then he has the opportunity to repay the debt ahead of schedule along with all accrued interest during use.

Total loan cost

The full cost of the loan is also indicated in the individual terms of the consumer loan agreement. A sample form can be found on the official website of each bank or ask the manager for it. This item includes several parameters:

• loan body - actual loan amount;
• interest that will be accrued for the entire period of use of the debt;
• other payments provided by companies;
• insurance of the client's collateral or life.

There are several fees that increase the cost of debt. These include penalties and fines for late payments, payments regulated not by the bank’s charter, but by the legislation of the Russian Federation. WITH financial side The contract must be carefully read, because an absent-minded attitude to the information presented can lead to unexpected debt obligations.

It is better to ask your personal manager about hidden fees, the procedure for calculating penalties and changes in the amount of a loan issued in a foreign currency. There are two ways to calculate such debts. In the first case, the interest rate and the amount of payments depend on the exchange rate that was valid at the time of signing the agreement. The second implies a change in their amount depending on the growth or decline of the dollar, euro or other foreign funds. In this case, accrued interest may increase or decrease.

Termination rules

The bank may terminate the agreement earlier than the specified period, asking the client to pay the entire remaining amount of the loan at once. But the borrower has the right to end the relationship with the company only after fulfilling all the conditions specified in the document. The client notifies his organization in advance of his intentions to pay off the debt and terminate the agreement. After considering the application, the bank recalculates the interest, because the overpayment for early repayment is reduced. If the company’s response is positive, then an additional form must be issued indicating the new terms of the loan.

There are also several exceptions that allow the client to terminate the contract early:

• the bank did not transfer funds to the account or card;
• the interest rate has changed, although such a right was not indicated in the document;
• The bank employee allowed the agreement form to be filled out and signed by a person who did not have the authority to do so in his place.

The bank has some advantages that allow it to terminate the agreement unilaterally. A consumer loan is issued for a specific purpose, which is confirmed by a special report. If the client spent the funds on another purchase, the company may refuse to provide him with further credit. Large sums are issued against security.

Under unforeseen circumstances or due to the fault of the borrower, the collateral may be lost, which also affects the bank’s decision. Violation of the terms of the contract, untimely payment of payments or their absence is also a pretext for terminating the contract. A document that contains erroneous information about the client and the lender, has forgery on the part of the bank manager, or does not notify the borrower of hidden fees is considered invalid.

Any loan agreement consists of a list of general and individual conditions. The client must read them carefully before signing the form. The document confirms the relationship between the financial institution and the borrower.

Article 5 of Federal Law No. 353-FZ of December 21, 2013 “On Consumer Credit” states that all provisions of the loan agreement are divided into two groups: general and individual. General terms are established by the bank unilaterally, and individual terms of a consumer loan are established between the lender and the borrower.

Basic Concepts

In accordance with Article 1 No. 353-FZ, a consumer loan is funds provided by the lender on the basis loan agreement. A lender is an organization that specializes in issuing loans. Borrower is an individual who received a loan. Credit limit is the maximum amount of finance provided by the lender to the borrower.

What applies to individual conditions

The lender's personal offer includes:

• loan amount;
• contract time;
• loan currency;
• size and frequency of payments;
• early return procedure;
• the need to enter into other agreements, such as insurance;
• provision of loan security;
• purpose of using borrowed funds;
• methods of fulfilling obligations;
• penalties for violating the terms of the agreement;
• method of information exchange;
• additional services provided for an additional fee;
• prohibition of assignment of the creditor's claims to third parties.

Important to know: In accordance with Bank of Russia Directive No. 3240-U, individual terms of a consumer loan are reflected in the agreement in the form of a table.

A credit institution is obliged to post in publicly accessible places, including the Internet, information about the conditions for the provision, use and repayment of a loan:

• name and address of the bank;
• requirements for the borrower;
• deadline for consideration of the application;
• types of lending;
• currency, amount and loan term;
• method of providing money;
• frequency of payments;
• possible ways provision;
• jurisdiction of disputes;
• standard forms and forms.

All this information should be provided to the borrower free of charge. At the client's request, the bank must issue copies of documents containing public information.

Insurance services

Most credit institutions offer clients life, health or change insurance financial situation due to job loss. With such insurance, the beneficiary is the bank. When advancing insured event, the insurance company will pay off the balance of the debt to the creditor.

If the borrower agrees to purchase insurance policy, then he must write a written application for concluding an insurance contract.

The client has the right to refuse insurance before signing the loan agreement or within five days from the date of conclusion of the agreement.

Illegal items

Banks strive to obtain maximum profit from each lending agreement. Therefore, they often include provisions that can be challenged in court. They are not legal from the point of view civil code. These items include:

• commission for issuing money;
• sanctions for early repayment of debt;
• additional payments for opening and maintaining an account;
• penalty for refusing to receive a loan after signing the agreement.

Information: You can refuse to receive a loan without penalty within 14 days from the date of conclusion of the agreement.

In order not to bring the matter to court, you must read all the clauses before signing the contract. If there is a conflict between the general and individual lending provisions, individual conditions are applied for loan settlements.

Information after the conclusion of the contract

After signing the loan agreement, the lender is required to provide the client with the following information:

• the amount of current debt;
• dates and amounts of all payments;
• other information.

A prerequisite for concluding an agreement must be that the bank provides the opportunity to pay the debt without commission, through branches or ATMs located in the city of residence of the citizen.

Who can receive personal conditions

Depending on the credit policy of a specific financial institution, individual terms of a consumer loan agreement are provided for certain groups of people:

• "salary" clients;
• bona fide borrowers who repaid the loan to this institution;
• employees of a credit institution.

For these clients, lenders offer the most favorable and convenient conditions, since by issuing funds to such borrowers, the bank bears minimal risks.

Change of specific provisions

In some situations, the borrower may contact the bank with an application to change individual conditions. This is permissible in the following cases:

• deterioration of the client's financial situation;
• increase in the borrower's income;
• changes in the economic situation in the country.

To change individual provisions, you must write an application to the bank, in which you must justify the reason for making the adjustments. After reviewing the application, an additional agreement is signed between the lender and the borrower, which sets out new provisions. This change is called debt restructuring. This may change:

• loan terms;
• monthly payment amount;
• interest rate.

Attention: The bank has the right to unilaterally reduce the interest rate, the amount of fines or other terms of the loan agreement, unless this entails an increase monetary obligations on the part of the borrower. In this case, the lender is obliged to notify the client of such changes in a proper manner.

The reason for reducing interest on borrowed funds may be a decrease in the refinancing rate by the Central Bank.

In order not to fall into the “debt hole” and not spoil yourself credit history, before applying for a loan, you need to assess your financial capabilities to repay the debt on time.

Bankers use various tricks to extract maximum profits. Sometimes they formulate the provisions of the contract in incomprehensible language, overloading it with highly specialized terms, or write down some clauses in small print. To fully understand all the proposed conditions, it is better to take the loan agreement home and read it in a calm environment.

For early repayment debt, you must write a notification to the financial institution no later than 30 days before the date of expected payment of the debt.

If the bank has included illegal items, you should ask them to remove them. If the creditor refuses, the validity of such provisions can be challenged in court.

A consumer loan will only be beneficial if the contract is as transparent and understandable as possible. A conscientious borrower can always count on a more loyal attitude from the lender and the provision of individual lending conditions. Before applying for a loan, you must carefully weigh the pros and cons and objectively assess your financial situation.

Credit. TO at this moment By now, this word is familiar to 95% of Russians. We are talking not only about large sums taken from banks, but also about the purchase of mixers, multicookers and fur coats. And everyone who at least once took out a loan was required to sign a loan agreement - a document in accordance with which the relationship between the creditor (bank or other credit institution) and the borrower.

What is a loan agreement? IN general case The loan agreement regulates the relationship between the lender and the borrower:

• a bank or other credit institution provides a loan on terms of payment and urgency;
• the client who signed the contract undertakes to return full amount loan and interest specified in the agreement within a predetermined period.

The agreement may also contain other provisions (for example, insurance of the life and/or property of the borrower), which are also subject to execution. A significant part of banks have already developed their own contract forms based on the provisions of Federal Law No. 353 of December 21, 2013. But there are also general provisions that any bank will necessarily indicate in its agreement:

• The borrower signs the agreement voluntarily. Most lenders include a clause stating that the borrower is not forced to sign by difficult circumstances, illness, need to pay for treatment, etc.;
• The agreement is concluded within the legal framework of the Russian Federation. All disagreements are resolved in accordance with the legislation of the Russian Federation;
• the borrower agrees with all provisions of the agreement and undertakes to comply with them.

Each document can be divided into general and individual parts. The main thing: none of the provisions of the agreement should contradict current legislation. It is worth noting that the loan agreement in most cases does not imply any changes to it by the borrower. A bank or credit institution sets lending conditions, the borrower can only agree or contact another lender.

General terms and conditions of the loan agreement

General terms and conditions mean the part of the agreement developed by a bank or other credit institution. The general conditions are developed for all borrowers and are not changed by the bank under any circumstances. General provisions include:

• name of the bank or other credit organization;
• legal and actual addresses, current accounts, telephone numbers and other details of the company.

The bank's requirements for potential borrowers, the conditions for submitting applications and making decisions by the credit committee do not change either. General provisions also include information about the types of loans provided by a credit institution in a certain period of time. Information such as interest rates on loans, amounts by type of loan, the need to obtain insurance, and other payments that are mandatory for all borrowers do not depend on the individual borrower.

General information also includes options for repaying loans or credits. The borrower has the opportunity to use any of the options set out in the general terms and conditions of the agreement. The bank may stipulate the conditions for refusal of the loan and the time allotted for refusal. If any types of loans require the presence of collateral or a guarantor, then these provisions also apply to general ones.

If you carefully study the Civil Code of the Russian Federation, namely, Article 807, it will become clear that the moment the agreement enters into force is not the fact of signing, but the physical transfer to the borrower of money or its carrier - a bank card.

If the borrower has signed all the contracts and forms, but has not yet been to the cash desk and has not signed the debit order, he has the right to change his mind and demand termination of the contract. If the money is received, then the agreement is considered to have entered into legal force and the borrower will have to repay the loan ahead of schedule and pay interest for the actual time of using the money.

Total cost of loan

A clause of the agreement that is mandatory for all credit institutions is the total cost of the loan, which consists of the following points:

• loan amount;
• interest for using a loan;
• other payments specified in the agreement;
• life insurance/or property insurance of the borrower, etc.

As additional payments that can greatly increase the total cost of the loan for the borrower, you must indicate:

• penalties for late payments;
• payments obligatory for payment not according to the contract, but according to the laws of the Russian Federation.

Termination of the loan agreement

The borrower has only one opportunity to terminate the loan agreement - to fulfill it in full. In this case, the borrower is obliged to notify the bank in advance of his intention to repay the loan early. The bank is obliged to provide the borrower with an estimate of the amount of interest payable in case of early payment. If the borrower wishes to pay early, an additional agreement to the contract is drawn up, which stipulates the terms of payment.

The following reasons for termination of the contract at the initiative of the borrower can be mentioned as exceptions:

• the bank does not transfer funds on the loan;
• a unilateral change in the interest rate by a credit institution, unless this is provided for in the agreement;
• the agreement was signed on behalf of the creditor by a person who does not have the authority to do so.

The lender is provided more possibilities terminate the contract early:

• if the borrower received a targeted loan, but used the money for other purposes, then the lender has every right to demand early repayment of the money in full;
• if the loan is provided as collateral, but the collateral is lost, damaged due to the fault of the borrower or due to force majeure;
• If the borrower does not pay the loan or violates the provisions of the agreement, then the lender is given the opportunity to terminate the agreement in court.

In July 2020, significant changes occurred regarding the conclusion of agreements in the field of consumer lending.

The legislation regulates the procedure for calculating interest on a loan, the price of a penalty and the requirements for the content and presentation of loan agreements. The new provisions apply to all organizations and corporations whose activities include providing consumer loans.

What it is

A consumer loan agreement is the main document containing general and individual conditions for the provision of borrowed funds.

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The agreement is allowed to include parts of other agreements according to the new legislation.

Standard contract requirements are established independently by the lender for multiple use. Individual terms are negotiated between the two parties and apply only to the individual borrower.

Along with the fact that the contract is the main document recognizing the agreement of the two parties to provide financial services, he contains important information about the subject of the agreement.

Before signing a contract, pay attention to the following particularly important aspects:

• total amount of consumer loan;
• cost (interest rate);
• repayment period;
• methods and conditions of repayment;
• conditions for the entry into force of penalties and their amount;
• the presence and amount of a one-time commission;
• cost of maintaining an account;
• possibility of termination of the contract.

General terms

The creditor is unilaterally obliged to independently develop general conditions, in other words, draw up a standard agreement that he will use repeatedly.

It is prohibited to include in the general conditions requirements for signing other contracts or obtaining certain services for a certain fee. If the general conditions are in conflict with the individual conditions, then the individual conditions have legal force.

The general terms and conditions of a consumer loan agreement must include information about the lender:

• name of the creditor,
• addresses,
• other contacts,
• Web site,
• license number,
• information about inclusion in the state. registry, etc.

In the terms and conditions, the bank must state:

• uniform requirements for the borrower,
• period of consideration of the application form and decision-making,
• list of documents to establish identity and creditworthiness.

The terms and conditions must necessarily contain information about payments:

• minimum and maximum amounts;
• return period;
• currency of transactions;
• procedure for obtaining a loan;
• annual interest rate and (if available) variable interest rate;
• as well as other payments under the agreement.

The information provided to the consumer must include ranges of amounts of the total cost of the loan, calculated taking into account the requirements of the new legislation, the frequency of repayment of funds to repay the loan, payment of interest and other payments.

IN general provisions Possible methods of returning funds and interest are indicated, including a free method of fulfilling obligations.

According to the new legislation, there are time limits within which a consumer can refuse to receive a loan, and these must be specified in the conditions.

The borrower must be informed of options for ensuring the fulfillment of obligations to financial institution. The main requirements include the borrower's responsibility for failure to comply with individual conditions, fines, penalties, the procedure for calculating them, as well as information about further sanctions.

Every credit company, including microloan organizations, should have a sample standard contract, which is provided to the consumer free of charge at places where financial services are provided, including online stores and other retail outlets where the organization’s services appear.

Individual conditions

Mandatory individual conditions include:

• the amount of loan provided to the borrower;
• possibility of changing volume;
• maturity date and term of the contract;
• currency;
• annual interest rate;
• information on the application of foreign exchange rates;
• debt repayment schedule;
• the possibility and procedure for changing the terms and frequency of repayment;
• methods of depositing funds to pay off debt;
• collateral information.

Individual conditions indicate the purposes of lending and the conditions for using borrowed funds, the borrower’s responsibility for failure to fulfill the terms of the agreement, as well as the borrower’s consent to all the stated conditions.

Read about the new information to know about the rules for drawing up a loan agreement and your rights.

Is it possible to take out a consumer loan from Sberbank using a passport? The conditions are described.

Banks that issue consumer loans on favorable terms are listed in.

Termination of an agreement

Termination of the contract before the specified period by consumer lending regulated by Article 450 of the Civil Code of the Russian Federation.

In accordance with federal law, there are only three cases in which termination is possible, namely:

• loan repayment;
• mutual agreement of the parties without the fact of repayment;
• when the court makes an appropriate decision.

Usually many citizens return borrowed funds not at the specified time, but earlier. Now credit organizations do not establish penalties for closing the contract before the specified period. For example, at Sberbank OJSC you can repay the debt in full even the next month after the loan is issued.

By agreement of the parties, termination is extremely rare, and attempts to exercise this right more often turn into the third option - termination through the court. Here, the main reason for termination may be failure to comply with the bank’s individual conditions or the revocation of its license by the Central Bank.

It’s another matter when the loan was issued on collateral or guarantee, in other words, on collateral.