На сегодняшний день довольно таки много людей faced with bank loans. When applying for a loan at a bank, many are reinsured and take the repayment period large enough. In reality, it often turns out to pay the entire loan much faster, but at the same time it becomes clear that the bank received too much from the borrower during the repayment period. Is it possible to return the interest on the loan in case of early repayment? This issue should be considered in detail.
The ability to return interest
Часто финансовые организации сразу прописывают в regular payments, additional fees, not related to the payment of the debt itself or charges on it, therefore, it becomes problematic to return these funds. Repayment of interest paid in case of early repayment of a loan is real only with proper processing of the relevant application and confirmation that the loan has been repaid in full.
Given these factors, you should pay attentionon other terms of the loan agreement. So, in a written contract in general it can be stated that it is impossible to repay a loan early within a certain period of time.
Also:
- the specific conditions of premature repayment of each financial organization has its own;
- even in the case of early repayment, the borrower is obliged to pay monthly installments until the full payment is confirmed.
What can I get my money back?
Repayment of overpaid interest in case of early repayment of a loan is not the only amount of money that a bank customer is entitled to receive from the organization if the debt is closed early.
Among them:
- maintenance fees and account opening (if the borrower has not signed the agreement);
- loan processing fees (if the borrower has not signed the agreement);
- insurance payments, if the contract for them has not been issued;
- overpaid interest on the loan;
- other hidden extra fees.
The most common type of monthly payments
According to this type of settlement with financialBy institution, an individual or legal entity undertakes to pay regularly a strictly fixed amount. It includes both payments to repay the debt itself, as well as payments on interest and other fees. Such payments are called annuity payments, the return of interest in case of early repayment of the loan in this case is most relevant.
The fact is that such payments at the very beginningperiod contain most of the interest, but not the debt itself. It turns out that with mortgage lending for decades, for the first couple of years the borrower pays almost one percent, leaving the debt itself unpaid.
It is also important to know that for proper calculationinterest on the annuity payment should apply a special formula, but many banks simply divide the annual interest rate by 12 and give the result for the monthly liabilities, which in fact exceed the real indicators by several points.
The annuity myth
Many are of the opinion that refundinterest on the loan with early repayment will be the most significant when paying the loan with fixed payments. The fact is that in such payments the amount is paid to pay off all charges, which is supported by the courts. In fact, it is not. Upon detailed consideration of the calculation of the annuity payment for each payment period, it becomes clear that interest is calculated separately for each of the previous months of using the money. That is, no overpayment of charges in advance in this form of payment does not exist.
Premature redemption rules
In terms of cash payments, returninterest on a loan for early repayment is a difficult and painstaking business, but considering the possible size of the amounts received back, the process is worth it. In order to maximize the likelihood of approval of a request for a refund, all conditions for early repayment should be strictly followed. Initially, it is necessary to notify the credit organization in advance about the desire to repay your debt ahead of schedule. It is best to do this in writing or online, if the bank has such an opportunity. After this follows:
- make the necessary amount to the account of the organization, while receiving a receipt;
- receive a written confirmation of the full repayment of the debt and the absence of obligations to the bank.
The latter can be completed only one month after the entire amount is paid directly to the financial institution.
Given the terms of the contract, after all the above actions, you can file a claim for the return of overpaid funds. First, in a credit institution, and then in case of refusal in court.
Legal issues
Досрочное погашение кредита, возврат процентов, Judicial practice, as a rule, considers on the basis of various information letters from higher judicial instances. According to their conclusion, interest on loans are considered as payments for the use of funds, which means they must be paid into the credit organization only for the period in which the money was at the disposal of the bank’s customer. Thus, the requirement to pay accruals for the period when the loan has already been repaid, including prematurely, is illegal.
It is also important to know that even ifthe text of the agreement between the bank and the client prescribed a ban on the return of interest, the credit organization would still be obliged to return the funds with the appropriate statement under the law. In addition, the financial institution is obliged under any conditions to recalculate the deposited funds in case of early repayment of the debt.
Given these legal nuances working on the side of the borrower, you can safely practice legal proceedings with credit organizations regarding the return of overpaid funds.
How to determine the size of the overpayment?
Return of interest on the loan in case of earlyredemption can be calculated in two ways. More painstaking is the calculation through the determination of the difference between the two annuity flows. Thus, the borrower must determine the difference between the current terms of the annuity for the current loan processing period and the conditions that could be presented to him when processing the loan immediately for a shorter period in which the early payment is made. This type of calculation is rarely taken into account by lawyers and may be relevant only under the condition of regional judicial practice under these conditions.
Most often, calculations are made simplified.in a manner that is taken into account by lawyers. It includes a proportional recalculation of charges for the term of the contract. To do this, calculate the amount of all accrued interest over the term of the agreement.
Thereafter:
- calculate the loan maturity and accruals already paid;
- the amount of all interest divided by the term of the loan and multiplied by the number of payments already paid.
The result of the calculations will be the same amountwhich should pay for the period of use of bank funds. The difference between the actual number and that obtained in the calculations is an overpayment that can be requested from the credit institution. In order not to be mistaken in independent calculations, you can use a loan calculator, which is freely available.
Nuances of return
Independent calculations are not alwaysaccurate, since bank employees may additionally include additional payments not accounted for by the borrower. Thus, the return of interest for early repayment of a mortgage loan can be carried out by other calculations, in which the self-calculated amounts will be only approximate.
It is important to understand that return the interest for thatthe period when the money was in the use of the borrower is impossible, because this amount is a payment to the bank and is protected by law on the side of credit institutions.
Taking into account all the above, one should not rush into calculations, but determine whether there is a possibility in the contract of any possibility of early repayment of the debt.
Sequencing
Early repayment of the loan in Sberbank, returninterest on which can also be carried out under the law, must be in accordance with all the terms of the contract. Otherwise, the bank can turn the situation around, so before starting any proceedings, it is better to consult with a qualified professional and familiarize yourself with the results of other court proceedings already conducted.
After that you need to prepare a writtenstatement to the court. By law, if the amount of the claim exceeds 100 thousand rubles, the application should be considered already in the regional offices. You should also pre-warn the credit institution about the intention to file a lawsuit in court. In some cases, banks agree with the claims of the borrower, and all issues are resolved without the involvement of the courts.
Application Policy
Early repayment of the loan in Sberbank, returnpercent more precisely, is carried out in the preparation of an application on a fixed form in the organization. In some cases, unscrupulous employees may simply refuse the client to issue the necessary form, and then the application can be written in free form. If they also refuse to accept such an application, it is necessary to turn to the management and ask for a copy of the application they received with a note of its acceptance and date.
In order to repay interest in case of early repayment of a loan, the application must contain:
- passport details of the applicant;
- all data on the loan agreement;
- account number to which the overpayment will be transferred.
The application must also include a copy of the loan agreement. An application is usually reviewed for at least three days.
Return of additional payments
In addition to overpaid interest, borrowers often find in the number of services they pay for which they do not use at all and did not subscribe to them at all.
These include:
- mobile bank;
- insurance premiums and so on.
Bank-imposed services may be canceled atat any time, when the borrower declares, and if their payment was included in the monthly installments, the bank must recalculate and, if necessary, return the funds to the client.
It is important to know that even with an unconsciousUsing the services for some time will have to pay. Also, certain types of commissions are not subject to cancellation - a fee for issuing a loan and servicing an account, since conditions are standard for all types of contracts.
Conclusion
Обязательно перед обращением в банк за финансовой help, read its terms. Early repayment of the loan, return of interest, annuity payments, return of additional payments - all these are quite complicated concepts that should be carefully understood. Of course, taking into account the probable size of the amounts received, the process fully justifies itself.
