They are there to bring profit to the deposit holder. This is done through the payment of interest on the deposit. In fact, it is the interest rate that is one of the main deposit conditions that clients pay attention to. But the calculation and payment of interest has its own subtleties, which are not always so obvious.

How is interest calculated on a deposit?

The amount of interest on the deposit is regulated in two ways:

• Usually the interest is specified in the deposit agreement and is always annual, i.e. it will be credited to the amount of the deposit for the year;
• If the interest is not specified in the agreement, then the current refinancing rate is used to calculate interest.

Interest begins to accrue the day after you open the deposit and deposit money on it, and ends on the day the deposit is closed (inclusive).

Calculating the amount of interest that can be received at the end of the year is very simple: just add to the deposit amount an amount equal to a percentage of the deposit amount. So, if at the beginning of the year you deposited 100,000 rubles. on a deposit at a rate of 5%, then at the end of the year you will receive 105,000 rubles.

The procedure for paying interest on deposits depends on the type of accrual:

• interest is accrued at the end of the deposit term, and you can receive it only at the very end of the deposit term (as a rule, such offers from banks are the most profitable);
• Interest is calculated and paid to the depositor monthly.

They are usually safer for the client from the point of view of the fact that he definitely receives money every month: the longer the deposit term, the higher the risks of inflation, devaluation, etc. The client himself may also have emergency circumstances that he can solve at the expense of the interest paid. But, unfortunately, for this type of deposit the interest rate is always lower than when interest is paid only at the end of the deposit term.

How is interest calculated on deposits with capitalization?

In addition, the most important concept for calculating and calculating interest on a deposit is the concept. Capitalization works according to the following system:

• a reporting period for calculating interest on the principal amount of the deposit is established (for example, 30 days);
• the interest capitalization period is set (for example, also 30 days);
• after 30 days, accrued interest is capitalized, i.e. are added to the principal amount of the deposit;
• in the next reporting period (next 30 days), interest will be calculated on the principal amount of the deposit along with interest for the previous month, i.e. in fact, the principal amount of the deposit is constantly growing, as is the accrued interest.

It is precisely due to the fact that the total amount of interest depends on the principal amount of the deposit, and this amount constantly increases during capitalization, such deposits in banks with monthly interest payments and capitalization are often more profitable than deposits with a high interest rate and interest payment only at the end term.

An alternative option is the so-called “manual capitalization”: if allowed, then you can independently increase its principal amount, which will lead to an increase in income from the deposit.

All conditions for calculating interest are specified in the deposit agreement. Before concluding an agreement and choosing a specific type of deposit, you need to calculate all the options offered by the bank, as well as assess your financial situation from the point of view of the need to quickly receive interest.

How is interest paid on a deposit?

In addition to the interest calculation system, the deposit agreement always specifies the interest payment system, i.e. how the client can actually receive his interest and manage it. It is important to understand that the accrual periods and interest payment periods can be completely different: a daily interest accrual system is used (there are such offers on the market), and payments are made only once a quarter.

The procedure for calculating and paying interest on a deposit allows the client to plan his income from the deposited funds: is he ready to wait for a long time to receive real money from the deposit (i.e., does he have no plans for costs associated with this money), or does he want to receive it? constantly at short intervals.

The following options for interest payment periods are available:

• daily;
• once a week;
• once a month;
• once a quarter;
• only at the end of the term.

The shorter the repayment period, the lower the interest rate.

Microfinance organizations (MFOs) have limited the accrual of interest on microloans.

Limitation of interest on microloans

On January 1, 2017, Articles 12 and 12.1 of the Federal Law “On Microfinance Activities and Microfinance Organizations” dated July 2, 2010 N 151-FZ came into force, which introduces a ban on Microfinance Organizations (MFOs) charging borrowers unreasonably high interest rates on consumer microloans. What is the reason for limiting interest on microloans? The reason is as simple as the world - microfinance organizations (MFOs), in an effort to obtain excess income, issue microloans instantly and with virtually no verification of the client’s solvency.
Microloan- this is a small loan that is provided for a short period of time, and, as a rule, without confirmation and verification of the borrower’s solvency.

In Article 2 of Federal Law No. 151-FZ dated July 2, 2010, the concept of “microloan” is described as follows:

3) microloan - a loan provided by the lender to the borrower on the terms stipulated by the loan agreement, in an amount not exceeding the maximum amount of the borrower's obligations to the lender for the principal debt established by this Federal Law;

According to Federal Law No. 151 of July 2, 2010, the amount of a microloan issued to one borrower cannot exceed one million rubles. The actual issuance of microloans in the amount of up to 30 - 50 tr. issued only with a passport and, of course, without checking the client’s solvency.

Federal Law No. 151 of July 2, 2010 There are two types of restrictions on the accrual of interest by Microfinance Organizations (MFOs) on issued consumer microloans, namely:

1. Three-fold limitation on the accrual of interest under a consumer microloan agreement.
2. Stopping the accrual of interest on overdue loans as soon as the interest reaches twice the amount of the outstanding portion of the debt.

The Bank of Russia explains the essence of the restrictions introduced by Federal Law No. 151, which boils down to the following:

1. From January 1, 2017, a three-fold limitation on the accrual of interest under a consumer microloan agreement entered into from this date comes into force.

If the repayment period under the agreement does not exceed one year, microfinance organizations (MFOs) do not have the right to accrue interest to the individual borrower after the amount reaches three times the loan amount.

So, for example, with a loan of 5,000 rubles, the borrower’s debt at no point in time can exceed 20,000 rubles. This amount includes:

• loan amount of 5,000 rubles
• accrued interest in the amount of 15,000 rubles (5,000 rubles x 3).

The Bank of Russia draws the attention of borrowers to the fact that the limitation established on the amount of interest does not apply by law to penalties (fines, penalties), as well as to payments for services provided to it for a fee.

This is how it is stated in the Federal Law of July 2, 2010 N 151-FZ (as amended on July 3, 2016) “On microfinance activities and microfinance organizations” (as amended and supplemented, entered into force on January 1, 2017) :

Article 12. Restrictions on the activities of a microfinance organization (as amended by Federal Law dated December 29, 2015 N 407-FZ)
1. A microfinance organization has no right:
9) accrue interest to an individual borrower under a consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, with the exception of penalties (fines, penalties) and payments for services provided to the borrower for a fee, if the amount accrued interest agreement will reach three times the loan amount. The condition containing this prohibition must be indicated by the microfinance organization on the first page of the consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, before the table containing the individual terms of the consumer loan agreement; (as amended by Federal Law No. 230-FZ dated July 3, 2016)

2. The second restriction concerns late repayment of a short-term (up to one year) consumer microloan: after a delay occurs, the MFO can charge the debtor interest only on the remaining (outstanding) part of the principal amount, but the accrual will stop as soon as the interest reaches twice the amount of this amount.

In this case, the MFO will be able to start accruing interest again only after the borrower has partially repaid the loan and (or) paid the interest due.

Penalties (fines, penalties) should be charged only on the portion of the principal debt not repaid by the borrower.

So, for example, if the outstanding portion under an overdue agreement is 5,000 rubles, the amount charged from the borrower will be equal to 15,000 rubles, which includes the amount of overdue debt - 5,000 rubles and accrued interest - 10,000 rubles (5,000 rubles x2).

Each MFO is required to place information about these restrictions on the first page of a short-term consumer loan agreement before the table with the individual terms of the agreement.

Federal Law No. 151-FZ dated July 2, 2010 “On microfinance activities and microfinance organizations” (as amended and supplemented) speaks about this restriction as follows:

Article 12.1. Peculiarities of calculating interest and other payments in case of delay in fulfilling loan obligations (introduced by Federal Law dated July 3, 2016 N 230-FZ)
1. After a delay in fulfilling the obligation of a borrower - an individual to repay the loan amount and (or) pay interest due, a microfinance organization under a consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, has the right to continue to accrue interest to the borrower - an individual only on the part of the principal debt that has not been repaid by him. Interest on the portion of the principal amount not repaid by the borrower continues to accrue until the total amount of interest payable reaches an amount equal to twice the amount of the outstanding portion of the loan. A microfinance organization does not have the right to accrue interest for the period of time from the moment the total amount of interest payable reaches an amount equal to twice the amount of the outstanding part of the loan until the borrower partially repays the loan amount and (or) pays the due interest.

2. After there is a delay in fulfilling the obligation of the borrower - an individual to repay the loan amount and (or) pay the due interest, the microfinance organization under a consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, has the right to charge the borrower - an individual a penalty (fines, penalties) and other measures of liability only for the portion of the principal amount not repaid by the borrower.

3. The conditions specified in parts 1 and 2 of this article must be indicated by the microfinance organization on the first page of the consumer loan agreement, the repayment period of which does not exceed one year, before the table containing the individual terms of the consumer loan agreement.

Sources:

• Message from the Bank of Russia dated January 1, 2017 - “The accrual of interest on short-term microloans is limited”
• Federal Law of July 2, 2010 N 151-FZ “On microfinance activities and microfinance organizations” (as amended and supplemented)
• Federal Law of July 3, 2016 N 230-FZ “On the protection of the rights and legitimate interests of individuals when carrying out activities to repay overdue debts and on amendments to the Federal Law “On MICROFINANCE ACTIVITIES AND MICROFINANCE ORGANIZATIONS””

There is an unwritten law in economics that even money costs money. It is very consistent with the provisions on legal interest, which were introduced into Russian market use in 2015. The then-era rule dramatically changed the taxation of all organizations using the accrual method. A year later, the wording of the law was changed.

What is meant by “legal interest”, how it affects taxation, and what has changed for businessmen with changes in legislation, we will look into this article.

What is legal interest

Civil Code of the Russian Federation in Art. 317.1 states that interest must be accrued for any use of money within an agreed period. In the text of the law they are not called “legal”; this term simply came into use among businessmen. We are talking about " interest on monetary obligations».

According to the law, a monetary obligation is considered:

• financial loan;
• money paid late;
• deferment or installment payment;
• advances;
• making an advance payment, etc.

All types of monetary obligations on which interest must be paid are listed in Art. 823 Civil Code of the Russian Federation.

ATTENTION! Legal interest is not a penalty that is assessed for late payments or improper withholding of money. Liability in the form of a fine provides for the payment of interest under clause 1 of Art. 395 of the Civil Code of the Russian Federation for the use of other people's finances. And legal interest is paid regardless of whether the payment was late or not - simply for the very fact of using the counterparty’s money.

Original legal interest

Federal Law No. 42 of March 8, 2015 introduced into legal force Article 317.1 of the Civil Code of the Russian Federation, which contained requirements for the payment of interest on monetary obligations. Commercial structures operating under contracts already concluded before July 1, 2015, when the law came into force, were somewhat confused. According to the law, unless otherwise specifically stated, the specified legal interest is accrued automatically. But what about existing agreements that did not address this issue?

If the parties do not intend to take into account the newly introduced interest, they will have to renegotiate the contracts and make changes to them. If the agreement is not changed and legal interest is accrued, then they must be reflected when calculating income tax (clause 6 of Article 271 of the Tax Code of the Russian Federation) or included in expenses (clause 8 of Article 272 of the Tax Code of the Russian Federation).

Both are quite problematic in the context of short terms and a large number of contracts.

In connection with this complexity, the President of the Russian Federation signed Law No. 315-FZ on July 3, 2016 introducing an amendment to this legislative norm.

Modern version of the rule on legal interest

From August 1, 2016, the updated version of Art. 317.1 of the Civil Code of the Russian Federation, which eliminated the misunderstandings described above. The amendment states that legal interest is applied only if it is expressly provided for in the text of the agreement, that is, their accrual “by default” has been abolished, the very thing that introduced confusion and misunderstanding.

IMPORTANT! The “risk zone” includes contracts concluded during the period of “inter-legislation” – from June 1, 2015 to August 1, 2016, because laws do not have retroactive force. Therefore, under such agreements, special attention should be paid to whether legal interest is taken into account as part of income (or expenses). This requires a revision of past documentation and, based on its results, either a recalculation or the conclusion of an additional agreement on the non-accrual of legal interest during this time.

New provisions of Art. 317.1 have been expanded in the sense that they no longer apply only to commercial organizations, but also to individuals, as well as non-profit structures.

Taxation on legal interest

The Ministry of Finance of the Russian Federation, in a letter dated August 3, 2016 No. 03-03-06/1/45600, came to the conclusion that if the parties to the agreement exercised the right to establish the payment of legal interest, the creditor would thereby increase the tax base relative to VAT. Naturally, this applies to those finances that were used to pay for goods, works, and services subject to VAT.

This letter took place after the amendment was introduced, and before that the Ministry of Finance adhered to the position that VAT was not allocated from the amount of legal interest.

Thus, with contracts concluded after August 1, 2016, everything is clear - legal interest is included in VAT. But what about agreements during the “interlegal period” and those concluded before July 1, 2015? Indeed, under most of the agreements, the creditor did not intend to receive additional income in the form of legal interest. There are 2 possible justifications for this situation:

1. Potential income that the party did not intend to receive, since legal interest had not yet been introduced at the time the contract was concluded, cannot be considered income, which means it is not included in the VAT base.
2. The nature of legal interest is almost identical to ordinary commercial loans, which means that the former can be extended to include an extremely clear position on VAT relative to the latter. According to letters of the Ministry of Finance of the Russian Federation dated July 4, 2015 No. 03-07-05/32290 and dated May 21, 2015 No. 03-07-05/29303, interest on a commercial loan is not subject to value added tax.

SO: VAT is not required to be charged on contracts that do not contain an agreement on legal interest. They should be recognized at the end of the reporting period, whenever they are actually paid. These amounts are included in the composition (clause 6 of Article 250 of the Tax Code of the Russian Federation).

Calculation of legal interest

As we noted, legal interest is not a monetary sanction, therefore its amount cannot be calculated according to the provisions of Art. 395 of the Civil Code of the Russian Federation, as was done previously for the payment of penalties on monetary obligations. It is necessary to calculate the remuneration for the use of other people's finances, carried out lawfully and not with violations.

The interest rate at which the calculation is made may be specified in the agreement or not specifically specified. If there is no indication of it in the text of the agreement, then data from the Central Bank of the Russian Federation on the refinancing rate is used, since January 1, 2016, equal to the key rate, which was 9% as of July 2017. But you should take into account exactly when the contract was concluded, because different legal norms were in force at different times:

• until June 1, 2015 – legal interest is not accrued;
• from June 1, 2015 to August 1, 2016 (“interlegislation”) – calculation of the rate for late payments on bank deposits;
• after August 1, 2016 - at the key rate of the Central Bank of the Russian Federation.

As a rule, the calculation is performed for each day the monetary obligation is fulfilled.

FOR EXAMPLE. The company entered into an agreement for the supply of raw materials in the amount of 20,000 rubles, which, according to the terms of the agreement, must be paid within a week. The text of the agreement included a condition on the accrual of legal interest. The rate was not specified. Payment was made on time, on the 7th day.

Legal interest must be accrued on the payment amount for 7 days of using the funds. Since there were no special conditions regarding increasing or decreasing the rate, it will be equal to the key rate - 9% per year. The legal percentage will be: 9% / 365 (days per year) - 0.024% per day, and per week - 0.168%. In this case, taking into account the transaction amount, the buyer must pay 33.6 rubles. for a week of using funds that have become someone else’s since the conclusion of the contract.

Some citizens do not suspect that the compound interest clause of a loan agreement concluded with a bank is unlawful. By default, citizens can fulfill their obligations taking into account the amount of such interest on interest, and the courts can collect the debt from the consumer in the absence of active resistance on the part of the citizen himself during the proceedings. Meanwhile, the mere inclusion of such conditions in the contract is an offense on the part of the banks.

"Captive" loan agreement

Under the so-called principle of freedom of interest, the parties to a loan agreement have the right to independently determine the content of the interest clause. This principle is not named in the Civil Code of the Russian Federation or other laws, but is a special case of the principle of freedom of contract (Article 421 of the Civil Code of the Russian Federation).
Summarizing modern trends in protecting consumer rights under credit agreements regarding interest conditions, several requirements (restrictions) should be noted. Freedom of interest is not absolute.
Firstly, the lender’s ability to unilaterally increase interest rates and the procedure for determining interest in loan agreements with individual borrowers is limited (Article 29 of Federal Law No. 395-1 of December 2, 1990 “On Banks and Banking Activities”).
Secondly, the legislation establishes uniform requirements for the procedure for determining interest in loan agreements (Regulation No. 39-P dated June 26, 1998, approved by the Central Bank of the Russian Federation).
Thirdly, a ban is introduced on enslaving transactions, a category which the courts include transactions with unusually high interest rates (Article 179 of the Civil Code of the Russian Federation).
Fourthly, the lender’s right to charge interest over the loan term in case of early repayment of a consumer loan is limited (clause 2 of Article 810 of the Civil Code of the Russian Federation).
Fifthly, a ban is established on charging compound interest in consumer loan agreements (clause 3 of the information letter of the Supreme Arbitration Court of the Russian Federation dated September 13, 2011 N 146).

Bypassing the law

Considering the fifth limitation mentioned above, it should be noted that otherwise (establishing interest on interest) the consequences of the new circumvention rule would be subject to application. Clause 3 of Art. 10 of the Civil Code of the Russian Federation establishes that if the abuse of right is expressed in the commission of actions in circumvention of the law for an unlawful purpose, the consequences provided for in paragraph 2 of this article will be as follows: the courts, taking into account the nature and consequences of the abuse, refuse to protect the person’s right in whole or in part, and also apply other measures provided by law.
Updated Art. 10 of the Civil Code of the Russian Federation names the concept of “circumvention of the law”, but does not disclose its content. Thus, the norm gives scope for judicial interpretation. It seems appropriate to name as a special case of such circumvention of the law the condition of the loan agreement that covers “compound interest”, more precisely, the bank’s action to include the said condition in the text of the agreement.
There are no rules in the Civil Code of the Russian Federation regulating the content and form of the terms of a loan agreement on interest. Nevertheless, this Code states: unless otherwise provided by law or the loan agreement, the lender has the right to receive interest from the borrower on the loan amount in the amount and in the manner determined by the agreement (clause 1 of Article 809 of the Civil Code of the Russian Federation). Under a loan agreement, a bank or other credit organization (lender) undertakes to provide funds (loan) to the borrower in the amount and on the terms stipulated by the agreement, and the borrower undertakes to return the amount of money received and pay interest on it (clause 1 of Article 819 of the Civil Code of the Russian Federation) .
From the contents of Parts 2 and 4 of Art. 29 of Law N 395-1 it follows that the parties can agree on a condition on a fixed interest rate or a condition on the procedure for determining interest.
Regulation N 39-P names two types of interest conditions: using a fixed or floating interest rate. In the first case, the agreement provides for a fixed interest rate, the amount of interest is calculated as the product of this rate by the loan amount and the actual period of use.
A variable interest rate clause involves agreeing on the procedure for determining the interest rate, which may vary depending on a certain underlying indicator. A variable interest rate clause is usually included in medium- and long-term loan agreements.
Until recently, the debate regarding the regulation of so-called interest-on-interest loan agreements remained uncertain.
Today the practice can be called established, but there are cases of ignoring the limitation in question or its incorrect interpretation.
As established by Art. 9 of the Federal Law of January 26, 1996 N 15-FZ "On the entry into force of part two of the Civil Code of the Russian Federation", in cases where one of the parties to the obligation is a citizen using, purchasing, ordering or intending to purchase or order goods (work, services) for personal household needs, such a citizen enjoys the rights of a party to an obligation in accordance with the Civil Code of the Russian Federation, as well as the rights granted to the consumer by the Law of the Russian Federation of 02/07/1992 N 2300-1 “On the Protection of Consumer Rights” and other legal regulations issued in accordance with it acts.
Taking into account the above, in this case the provisions of Art. 29 of Law N 395-1 should be applied to the extent that does not contradict the Civil Code of the Russian Federation and Law N 2300-1.
It should also be noted that the Decree of the Constitutional Court of the Russian Federation dated February 23, 1999 N 4-P explains that a citizen is an economically weaker party and needs special protection of his rights, which entails the need to limit the freedom of contract for the other party, that is, for banks.
One of the criteria for classifying a compound interest clause as a circumvention of the law is the consequence for the consumer (the difference between what the citizen received and what he expected when concluding the contract).
The consequences of breach of obligation may include property and money not received by the plaintiff, losses incurred, and other property or non-property rights that the plaintiff has the right to rely on in accordance with the law and the contract. When assessing such consequences, the court may take into account, among other things, circumstances that are not directly related to the consequences of breach of obligation (price of goods, work, services, contract amount, etc.). The criteria for establishing disproportionality in each specific case may be: an excessively high percentage of penalties; a significant excess of the amount of the penalty to the amount of possible losses caused by violation of obligations; duration of non-fulfillment of obligations, etc. Similar explanations are given in paragraph 42 of the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation No. 6 and the Plenum of the Supreme Arbitration Court of the Russian Federation No. 8 of July 1, 1996, paragraphs 2, 4 of the information letter of the Presidium of the Supreme Arbitration Court of the Russian Federation dated July 14, 1997 No. 17.
In civil case No. 33-1517/2012, the Volgograd Regional Court, in its cassation ruling dated 02/09/2012, indicated that the satisfaction of the demands for the recovery of interest in the declared amount for the use of other people’s funds was rightfully refused, since the court of first instance, when calculating the amount of interest, did not proceed from the amount of the principal debt, but from the amount of debt taking into account inflation and actually calculated interest on interest.
The risk of recognizing the compound interest condition as legal is as follows. Banks often argue that they discussed these conditions in a specific case with the consumer, who himself agreed to them, signing the agreement, fully aware of the consequences.
In arbitration case No. A13-5569/2011, the bank’s position was that it individually discusses the terms of the agreement with the party. According to the bank, this discussion is expressed in informing clients about changes in the general terms of the agreement in advance (30 calendar days) in a publicly accessible way (bank information stands, bank website, other methods), which allows the borrower, in the absence of consent, to inform the bank about this. However, the FAS NWO, in its Resolution dated December 26, 2011 on this case, noted that the above methods of informing clients by the bank cannot be recognized as an individual discussion with the party of the terms of the agreement. At the same time, the case materials themselves do not contain any information confirming that the bank individually discussed the controversial condition with the party to the loan agreement.

Example of compound interest condition

We have in our hands the text of the agreement, which contains the following clause: “In case of late payment of interest, the borrower shall pay the lender a penalty in the amount of 32% per annum for each day of delay from the amount of accrued but not paid interest.”
This condition is contrary to consumer protection legislation. Let us explain what the contradiction is.
In accordance with paragraph 1 of Art. 809 of the Civil Code of the Russian Federation, unless otherwise provided by law or the loan agreement, the lender has the right to receive interest from the borrower on the loan amount in the amount and in the manner determined by the agreement.
From paragraph 1 of Art. 819 of the Civil Code of the Russian Federation it follows that under a loan agreement, a bank or other credit organization (lender) undertakes to provide funds (loan) to the borrower in the amount and on the terms stipulated by the agreement, and the borrower undertakes to return the amount of money received and pay interest on it.
Based on paragraph 1 of Art. 16 of Law N 2300-1, contract terms that infringe on consumer rights in comparison with the rules established by laws or other legal acts of the Russian Federation in the field of consumer rights protection are declared invalid.
As follows from clause 3 of the information letter of the Supreme Arbitration Court of the Russian Federation No. 146, the ability of the parties to change by agreement the provisions of the dispositive norms of the law in contractual relations with the participation of the consumer is limited by clause 1 of Art. 16 of Law N 2300-1, which prohibits the deterioration of the consumer’s situation in comparison with the rules established by laws or other legal acts of the Russian Federation. Such a rule is the provisions of paragraph 1 of Art. 809 and paragraph 1 of Art. 819 of the Civil Code of the Russian Federation, according to which, as a general rule in credit relations, interest on a loan is accrued on the loan amount; the possibility of accruing interest on interest does not follow from these norms. From the provisions of these norms it follows that under the loan agreement interest is accrued only on the loan amount.
Thus, the controversial condition of the loan agreement is aimed at circumventing the provisions of the law, therefore, contradicts them and is void. Courts must refuse to protect banks' claims to collect debts under loan agreements in terms of compound interest.
The Supreme Arbitration Court of the Russian Federation in this clarification made the following conclusion: “The terms of the loan agreement aimed at directly or indirectly establishing compound interest (interest on interest) infringes on the consumer’s rights established by law.”

Implications for banks

The inclusion in the loan agreement of a condition that infringes on the rights of the consumer constitutes an administrative offense established by Part 2 of Art. 14.8 Code of Administrative Offenses of the Russian Federation. An administrative fine is provided for this offense: for officials - in the amount of 1 thousand to 2 thousand rubles; for legal entities - from 10 thousand to 20 thousand rubles.
In accordance with Art. 2.4 of the Code of Administrative Offenses of the Russian Federation, an official is subject to administrative liability if he commits an administrative offense in connection with failure to perform or improper performance of his official duties.
From the footnote to this article it follows that heads of organizations who have committed administrative offenses in connection with the performance of organizational, administrative or administrative functions bear administrative responsibility as officials.
According to Art. 11.1 of Law No. 395-1, the current management of the activities of a credit organization is carried out by the sole executive body.
From part 3 of Art. 2.1 of the Code of Administrative Offenses of the Russian Federation it follows that the imposition of an administrative penalty on a legal entity does not relieve a guilty individual from administrative liability for this offense, just as bringing an individual to administrative or criminal liability does not exempt a legal entity from administrative liability for this offense.
Consequently, the bank does not have the right to provide in a loan agreement with an individual the specified condition on the accrual of interest on interest, since such a condition infringes on the rights of consumers and entails administrative liability.
If the elements of this offense are established, both the legal entity and the relevant official may be held liable.
It is noteworthy that in the overwhelming majority of credit agreements issued by banks, they are standard (concluded with many borrowers), which indicates a systematic violation of the law and, as a result, indicates a higher social danger than a one-time agreement with a controversial condition.
It must be borne in mind that the explanation contained in paragraph 3 of the information letter of the Supreme Arbitration Court of the Russian Federation No. 146 is used to regulate relations within the scope of Law No. 2300-1. The interpretation of the rules of substantive law given in the text of the said paragraph does not apply in cases where the borrower is not a consumer within the meaning of the said Law, and also if the lender is not a credit organization (Resolution of the Eighteenth Arbitration Court of Appeal dated September 13, 2012 in case No. A76-3639/2012 , the parties to the dispute were the Committee for Property Management and Land Relations and the management company).

Yuri Kantser, lawyer, Volgograd.

Interest or a complex interest system is the calculation of interest on an amount for which interest is already being received.

How is interest calculated on interest?

As you know, interest is the payment of a certain amount of money commensurate with the invested or authorized amount of money. For example, the authorized amount is 1000 rubles, this amount is subject to ten percent interest. Ten percent, otherwise 0.1 of the invested 1000 rubles. We multiply these two numbers and get an amount of 100 rubles, this amount will be the interest on the deposit.

This method is called the simple interest method: we simply take a percentage of a number and add it to the base number. If we analyze this theory from a mathematical point of view, then, taking the percentage in shares as “x”, and the statutory one as “y”, the final amount after the percentage calculation “z” will be calculated according to the equation: z=y+y*x Thus, 1000+1000*0.1=1100.

Now let's look at the complex system of calculating interest. Let's say a sum of money was deposited for a certain period with the condition that after this period he would receive 10 percent of the deposit amount, and after some more time: 5% on the amount that had already increased in percentage.

Let’s first analyze this situation simply in words, and then learn how to write it in equations so that you can, if necessary, substitute any numbers and calculate. So, first, after a certain period of time, interest will be accrued on the deposit. Let's assume that the deposit is also 1000 rubles. Then 10 percent of this contribution, as we wrote above, will be 100 rubles. When the investment period expires, the investor will have 1,100 rubles in his account. When some more time has passed, he will be credited with 5 percent on the existing, that is, already increased, amount of money. Thus, it is easy to do the calculation: we add five percent to the existing amount of 1100 rubles, to do this we multiply 1100 by 0.05 and the final result is a deposit amount of 1155 rubles.

How to write this calculation in the form of an equation so that you can substitute any other numbers into it and calculate without problems? To do this, we take our primary equation z=y+y*x and change it. To the profit obtained in the first equation, we must take another percentage (we denote it as x1), after which the equation will take the form: z=(y+y*x)+(y+y*x)*x1.

Remember your school days, in mathematics there were always problems involving percentages, which not everyone likes, because you have to delve into them.

We have analyzed the calculation of interest according to a complex and simple scheme, now let's find out where the complex interest system is used.

Where is "percentage on interest" used?

We find the most elementary application of interest capitalization in the banking sector. The bank charges interest according to a complex scheme. Thus, the deposit will increase annually according to the above equation.

To illustrate the system of calculating compound interest, some mathematicians cite as an example the Gospel parable about a poor widow who put two mites on the temple - the most expensive thing she had. If you put two kopecks in a bank with an interest rate of five percent per annum according to a complex system, after 2012 years the amount of the deposit would be 4.29 * 10 to the fortieth power of rubles. This, of course, is just calculations, alas, it still eats up, for 2012 its percentage would have been simply huge, taking into account all the events that have happened over these years; There could be wars and so on.

Another complex interest system is used in lending. As a rule, it is applied to people who do not repay overdue loans to the bank. Then the bank sets up a complex system of interest and charges interest on interest, multiplying the amount of debt.

Based on the above, if you understand the functioning of this system, you will almost never have problems with financial calculations and balance sheets. Good luck to you!

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