Nikolai Pereslavsky, an expert at the CMS Institute’s Department of Economic and Financial Research, warned Russians about the danger of a quick loan closure. He told agency “Prime”, that in the case of early partial repayment, a conflict situation with the bank may arise.
At the same time, the financier recalled that no organization can prohibit closing all debt ahead of schedule. He called commissions, fines or charges for this action a reason to go to court.
“The fact is that quite often there are cases when banks either generally prohibit partially repaying a mortgage loan, or make it possible to make one or two payments, and this, as a rule, is fixed in the loan agreement,” he explained.
Pereslavsky also gave advice on how to make such payments. According to him, the most profitable thing is to shorten the term of the loan, that is, to reduce it for the maximum possible period in one payment. The expert explained that along with the main debt, the interest on the loan will be recalculated down. With the same monthly payment, you can save a fairly large amount.
“If the goal is to pay a little less every month, then you can safely direct the early payment to reduce the payment. The debt burden on the client’s pocket will decrease, but the benefit from such repayment will be much less, “Pereslavsky concluded.
Earlier in October, Synergy University conducted a study examining what purposes Russians most often take out loans for. Mortgage lending turned out to be the most popular in the country. For this purpose, 28.8 percent of respondents applied to banks. Another 20.4 percent receive a loan for the purchase of a car, 19.4 percent – for the purchase of a gadget and household appliances, 15.9 percent – for repairs. About 8.8 percent took out loans to pay off old debts. Least of all, Russians take loans for travel, health, assistance to relatives, training and organization of events (less than 10 percent).
#financier #warned #Russians #danger #quick #loan #closure