With the existing abundance of goods, it is difficult to resist the temptation and not buy too much. When emotions prevail over reason, loan debts begin to accumulate. But, as they say, debt is worth paying, so the hour comes when a person realizes with horror that he is already confused in payment schedules, and fines are increasing every day and there is no end in sight to constant overpayments. This is where it arises logical question: how to reduce monthly payment on a loan?

We're lowering the rates, gentlemen!

We must pay tribute to banking structures for understanding all the difficulties that the population faces with debt repayments. It is no secret that this “understanding” in any case will not save you from returning the amount taken, but at least you can count on more lenient conditions. So, we’ll tell you further how to reduce your credit burden:

1. Conduct .
2. Submit a request to .

The question of whether it is possible to reduce the size of the payment begins to arise at the moment when the borrower can no longer cope with the monthly obligation. Being in a state of stress, a person begins to look for a way out, so it is advisable, even at the stage of applying for a loan in 2018, to inquire about how to repay debts in the event of financial difficulties.

Today, any modern bank, whether VTB, Sberbank, Alfa Bank or Tinkoff offer two types of payments: annuity and differentiated.

An annuity payment is a payment in equal parts over the same period of time. Each part of such a payment already includes the amount of the loan body, as well as interest.

Differentiated payment is a little more difficult to understand, since its essence is that with each month the amount of the monthly payment decreases, and the overpayment decreases accordingly.

There are other types of payments when, for example, the deposited amount increases every month, and interest increases accordingly. This scheme is used for lending to large and medium-sized businesses. The basis is the expectation that the loan taken will generate income over time. Therefore, it will be easier for the borrower to repay it incrementally.

One of the effective schemes for reducing the interest on a loan is to replace any type of payment with an annuity payment. But the main thing here is to understand that the percentage does not decrease on its own, but rather the load decreases due to division into equal shares.

Loan restructuring - how not to be deceived

Debt restructuring implies a revision of the main terms of the contract: the final amount, interest rate and repayment terms. This procedure is offered to those borrowers whose arrears last more than six months.

When preparing to submit an application for restructuring, you should soberly assess your capabilities and calculate all the moves in advance, so that instead of improving your situation, you do not end up in an even deeper situation.

There may be several options for repaying the debt:

• increasing the payment period;
• interest rate reduction;
• reduction of the monthly payment amount;
• exchange of property for debt.

All these conditions cannot be applied simultaneously. The bank itself determines what exactly to offer the client, based on his situation. By the way, restructuring is carried out only by the bank that issued the loan.

Not everyone may approve loan restructuring. Sometimes, in order to obtain it, it is necessary to provide evidence that resulted in the inability to pay the debt. Valid reasons include serious illness, long-term hospitalization, dismissal, and the like.

When is refinancing beneficial?

First of all, it is worth understanding that refinancing is taking out a new loan to pay off the old one. For many, this sounds intimidating – after all, what’s the point? The point is that borrowers who find themselves in difficult financial situation, the bank itself offers to issue new loan for more favorable conditions. Then the old loan is immediately closed, and the interest on it stops accruing like a snowball. Besides, refinancing opens up the following opportunities:

• release of property from collateral(refinancing makes it possible to free an apartment or car from collateral and dispose of it fully);
• reduction in general interest rate(possible only if you have supporting documents that your situation is truly critical);
• change of payment currency(this item is not suitable for everyone, since not everyone in our country has dollars or euros. However, a request to change the payment currency is also in demand);
• processing multiple loans in one(a nuance: by law, the number of such loans cannot exceed 5);
• changing the monthly payment amount and extending the loan term(the loan is transferred to an annuity payment and extended for a couple of years. Accordingly, the amount of the monthly payment is significantly reduced).

At first glance, it may seem that restructuring and refinancing are no different. Yes, they have one goal - to help the borrower get out of the loan without losing their money. Therefore, the end result of these two systems is common. However, there is one big difference between them: restructuring only allows you to reduce the credit burden for some time and give the borrower a break. That is, there is a moral aspect. And refinancing is quite capable of providing significant financial assistance in the form of improved conditions. In addition, any types of lending are subject to refinancing: consumer, mortgage, online loans, car loans and it can be done at any bank, and not just the one where the loan was issued.

How to take a break

Sometimes, in order to gather his financial strength, the borrower needs a couple of months of respite from repayments.

To ensure that during this time your loan does not accrue unnecessary interest, fines and penalties, you can request from the bank credit holidays or prolongation. Speaking in simple language, prolongation is a kind of deferment of payments. That is, everything initial conditions agreement - amount, interest - remain in force. Only the final payment date changes.

To get such holidays, you need to contact the bank with an application as soon as you feel that you are no longer able to cope. Banks will be happy to approve your application if up to this point you have not had any significant delays, litigation, and all issues with other creditors have been resolved amicably.

Most often, banks make concessions and confirm the extension, because they understand that by refusing the borrower, they increase the likelihood that they either will not receive their money or will receive it through the court. Which entails additional time and financial costs. Therefore, after weighing all the pros and cons, it is more profitable to provide credit holidays.

Applying for loans is a normal phenomenon in the modern world, as well as the fact that the life circumstances of each of us can change at any time. Therefore, everyone has the right to contact the bank and honestly talk about their situation in order to choose the most appropriate way to reduce monthly payments allowing him to fulfill his debt obligations.

Even in pre-crisis times, loans did not go unnoticed by family budget. Needless to say, how burdensome loans have become now, when real wages are falling and prices are rising at double-digit rates?

Since last year, borrowers unable to pay their loans have had the opportunity to use judicial mechanisms for bankruptcy or debt restructuring. What should those who are still able to service the loan do? Is it possible to legally reduce your loan burden? AiF.ru sorted it out.

Early repayment

Early repayment is the easiest way to save on a loan.

Until mid-2014, loan agreements of a number of banks often included a clause on penalties for early repayment of loans. In this way, financial organizations tried to level out losses in the event that the borrower brought the borrowed amount ahead of schedule. The Law “On Consumer Credit” made such fines illegal. However, it must be borne in mind that if the loan was issued before mid-2014 and the document states penalties for early repayment, then the bank has the right to apply them.

If you took out a loan after this period, then you do not have to pay any fines: during the first month after receiving the money, you can repay the debt at any time and pay only for the days you used the loan.

If you decide to repay the loan later than the first month, then you must notify the bank 30 days before the date early repayment. Within 5 days after you submit the corresponding application, the bank is obliged to provide you with an accurate calculation of how much money you will have to pay on the day of early repayment.

“At the same time, you most likely will not be able to return the money paid for the insurance that you took out on the loan. The Russian law on insurance activities, on the one hand, allows a citizen to terminate an insurance policy at any time, but on the other hand, it allows insurers to keep all received insurance premium, even if the insurance contract was actually valid for several days. However, sometimes Insurance companies include in the policy their own obligation to pay the paid insurance premium for the unused period,” emphasizes CEO Institute stock market and management (IFRU) Victor Maydanyuk.

On-lending to another bank

If you had to take out a loan at a high rate (for example, after the Central Bank sharply raised the key rate in December 2014, which caused loan rates for the population to increase), then you can reduce your debt burden by getting a less expensive loan from another bank . If you have a good credit history and a stable income, then financial institutions will be happy to lure you away from a competitor. Keep in mind that the bank through which you want to reduce your loan payments must be sure that contacting it is not related to financial problems and is caused by a simple desire to save money.

When applying to another bank for refinancing, you should consider several points that will ultimately determine whether you can gain anything from switching to a new lender.

“Firstly, when applying for a new loan, it is important to avoid imposing “voluntary” but unnecessary additional services. One imposed insurance policy will eat up all your possible savings.

Secondly, when assessing the feasibility of switching to another lender, compare not so much interest rates or PSC ( full cost loan), how much is the estimated amount of interest you will have to pay. This amount must be indicated in the payment schedule. With an annuity repayment system, you may well find that, despite the seemingly very attractive PSC and the size of the monthly contributions, you will end up paying more interest in the new bank than in the old one. This effect is especially likely if you have already paid off most of your debt on your old loan, and new bank offers you a loan for more long term“Explains Victor Maydanyuk.

Restructuring

You can try to reduce your loan rate without contacting another financial institution. If you took out a loan on not the most favorable terms, and then the bank significantly reduced the loan rates, you can contact the credit institution with a request to refinance or restructure the debt on new terms. By law, the bank is not obliged to meet you halfway and change the conditions in your favor, but it understands that you can close your credit obligations within a month by taking a loan from a competitor. Therefore, theoretically, they can agree to change the terms of the agreement or offer to refinance the debt at the bank itself. In this case, the first loan (with more than high rate) will be repaid at the expense of the second.

Changing the terms of the contract is the borrower’s preferred option, says Maydanyuk. The fact is that when refinancing you have to close the old loan under the old conditions. If the loan was issued more than two years ago and there were penalties for early repayment, you will have to pay a fine. If the loan requires other mandatory payments, you will have to pay them when you apply for a new one. Again, you will have to be persistent when bank employees try to impose additional services on you.

Today it is almost impossible to find a person who has not taken out a loan from a bank or any other financial organization. Regardless of the amount of money borrowed, many dream of paying off the institution as quickly as possible or at least getting a reduction in the interest rate at the current mortgage loan or a loan to purchase a car, equipment, etc. Is it possible to do this officially? Let's take a closer look at all the existing options.

Factors influencing overpayment

Before you figure out how to reduce interest rate regarding a loan, it is worth understanding the principle of overpayments. This will help answer many questions.

For example, it should be said right away that it will be quite difficult to significantly reduce the level of overpayment. The fact is that each bank has a minimum scale to which such a reduction is possible. Therefore, you need to rationally understand that when issuing loans, a financial organization expects to make a profit. Based on this, not a single financial institution will work at a loss.

However, there are a number of certain exceptions. One of them is programs. These are the most significant reasons for reducing the interest rate on a loan. In this case, the overpayment is compensated by the state. Accordingly, the bank can significantly lower the interest rate without harming itself.

Also, not everyone knows that the percentage of overpayments is regulated by the Central Bank. Therefore, there is a certain minimum threshold. However, the actual data received from the financial institution is rarely communicated to borrowers and bank clients.

Among other things, when talking about how to reduce the interest rate on a loan, you need to understand that when applying for a loan, the bank also takes into account those cash, which will need to be paid to branch employees for servicing equipment in the offices of a financial organization, etc.

Risk factors and desired profit are also taken into account. The last point is also called the greed coefficient. It turns out that the possibility of lowering the rate depends on how loyal the bank is to its customers. According to statistics, we can conclude that even with the most serious approach to this issue, it is possible to reduce the loan rate by no more than 3-4 points. However, it all depends on the specific situation.

Any bank focuses on economic situation in the country, as well as for their own well-being. We can conclude that it is much easier to reduce overpayments in a financial institution that is stable. This is about large organizations who have been working in the country for a long time. There are also other ways to reduce the interest rate on an existing loan.

Early loan repayment

This is the easiest way to reduce overpayments. However, it makes sense to try this method only if the borrower has an annuity payment and has not yet reached the halfway point of the payment period. For repayment, not only personal funds, but also savings funds of clients, as well as other possible instruments can be used. These include maternity capital. In this case, it is not necessary to wait until the child turns 3 years old, since the funds can be contributed towards the mortgage.

Refinancing

In this case we're talking about about another loan (in the same or third party bank) at a lower percentage. This is especially true for those who signed a contract during a period when rates were especially high. For example, in 2017 interest rates consumer loans much lower. Accordingly, in this situation, refinancing is a fairly effective way to reduce overpayments. In other words, the borrower simply issues a new loan in the amount current debt. The amount remains the same, but the overpayment decreases.

New loan with different conditions

In fact, this is another type of refinancing. In this case, not only the interest rate changes, but also other conditions under the loan contract. For example, a client may refuse compulsory insurance or change the payment currency. However, it is worth considering that if you refuse insurance, interest rates, as a rule, on the contrary, increase.

Participation in special programs

In order to get relatively cheap loan, you can consider the current social proposals from the state. For example, many banks have a “Young Family” promotion. In this case, interest rates may be reduced for married couples in which the age of the spouses has not reached 35 years. If the consumer already has an existing loan, he can apply for a reduction in the interest rate on the loan in connection with joining this program.

Also today there is military mortgage. This category of lending was specifically designed for military personnel. In order to become a participant in this program, you must serve on a contract basis for at least 3 years. Then the country's Ministry of Defense is ready to compensate interest rates in the amount of 8 to 10%.

In addition, there are programs for young employees living in rural areas. In this case, clients of financial institutions will also enjoy quite favorable conditions for reducing interest rates on loans. For example, at Rosselkhozbank there are special programs, according to which clients can purchase houses outside the city, provided that the work activity will be carried out in rural areas.

By credit card

Everyone knows that credit cards usually charge the highest interest rates, which can reach up to 59% per annum. In this case, in order to reduce the overpayment, there is no provision for contacting the bank. It will also be impossible to refinance the loan. This is explained by credit cards are a typical personalized financial institution product. By and large, there are no effective methods to reduce the interest rate on a loan in this case. The only way to at least slightly reduce the overpayment is to apply for credit benefits in advance. Or you can try to apply for another one credit card with lower interest rates in the same or another bank.

How to reduce the interest rate on a loan at Sberbank

Most clients have more confidence in this credit institution. Today you can get a loan from this bank at quite low interest, which can be made even smaller.

First of all, you need to contact a bank branch employee and declare your intentions. To count on a reduction in overpayment, you must provide an ideal credit history. If previous payments were made without delays and the client has not had any problems with financial institutions in the entire history of lending, then the bank can accommodate.

Sberbank is also lowering interest rates for those who participate salary projects. Clients do not need to provide certificates confirming income or other documents on solvency. If the client takes part in this program, then the bank is confident that all funds will be returned to him.

In addition, you can try to attract guarantors or provide property as collateral.

How to re-register at a lower interest rate

In this case, the only possible option is to conclude a new refinancing agreement. It is worth noting that, starting this year, Sberbank provides preferential terms according to this procedure. Therefore, it is possible to close the loans of others credit institutions and issue new contract. This will be especially beneficial for those who have acquired loan obligations at high interest rates.

What is needed to re-issue a loan

To do this, just contact any available Sberbank branch and fill out the appropriate application. In addition to the application form, you must also take your citizen’s passport with you. Russian Federation, contracts of previous credit institutions, certificates confirming repayment and the absence of late payments and work book. If the client is a member social program, then you must provide a certificate of marriage and birth of children. If the borrower is a man under the age of 27, then you must bring a military ID.

When talking about how to reduce the interest rate on a loan, you need to take into account that the more positive information the borrower can provide about himself, the greater his chances of a reduction will be. credit rate and obtaining more favorable lending conditions.

Finally

In fact, lowering the interest rate at a bank is quite problematic. Therefore, it is better to think through the profitability of the deal in advance even before signing the contract. Before signing the papers, it is necessary to consider all options for mortgage or consumer loans, interest rates in 2017 and what forecasts experts made for the subsequent period of time. Any information will be useful.

The task of any banking organization is to obtain maximum benefits. Therefore, the borrower will never learn from bank employees that there are several legal opportunities to reduce loan payments. But the methods make it possible to enter into a voluntary agreement with banking structures or begin legal proceedings, if all the prerequisites for this exist. Voluntary resolution of issues is the highest priority option, eliminating the burden of litigation. In addition, without legal costs and time delays, problems are resolved much faster.

Many banks also do not want to get involved with the courts because it is difficult to predict the outcome of the proceedings - sometimes the courts side with the borrower and the bank has to pay considerable amounts. If the bank is right, the court will side with it and satisfy the borrower’s requests only partially. In this case, the burdensome (high) interest rate on the loan and the inability to make regular payments are arguments not in favor of the borrower.

This option of reducing payments is possible in the event of a sharp deterioration in the financial situation of the borrower. For example: layoffs, the birth of a child, the appearance of a dependent, disability - the bank will accommodate you, you just need to write an application and submit documents confirming a sharp decrease in solvency. The following will be suitable as proof: a certificate from the place of work, a photocopy of the employment record with a seal and a record of dismissal/redundancy, a certificate of disability, birth of a child, etc.

If the bank does not agree to reduce the issues voluntarily, it gets a lot of problems: the payer does not pay the loan amount, he will have to go to court and monitor the execution of the court decision. All this turns out to be much more expensive than reducing the amount of loan payments and concluding a voluntary agreement with the borrower.

Depending on the situation, banks offer the following options:

• extension of the loan term with a reduction in the amount of contributions;
• deferment of payments for several months without calculating penalties;
• reduction in the total interest on the loan, etc.

To be able to enter into a voluntary agreement, the borrower must not be on the “black list” of debtors and have a valid reason for debt restructuring.

On-lending

Another way to get rid of a loan with unfavorable terms is to quickly pay it off. But where to find funds? Contact another bank to get a loan on more favorable terms, which will pay off the previous one. This is relevant when rates on the first loan are inflated, for example, due to an increase key rate TSB RF.

In addition to obtaining a new loan, you can take advantage of government subsidies: maternal capital and others. You can contact the bank where the loan is being paid at an unfavorable rate with a question about refinancing - if there are no late payments, banks often accommodate borrowers halfway.

Mutual agreement to amend the terms of the contract

If you find conditions in another bank that are much more favorable than for the loan you are paying off, feel free to go with an offer to your bank and negotiate changes to the agreement bilaterally. Banks are interested in the client, so most often they accommodate them halfway. Of course, if the conditions are not too unfavorable for the bank.

It is possible to agree on the mitigation and revision of contractual obligations without looking for another loan. If the borrower is not in arrears, but has good reasons to ask for additional changes, the bank also makes concessions and rewrites some clauses of the agreement in favor of the borrower.

Judicial practice shows that challenging payments through the courts is a difficult task. It is possible to achieve a reduction only in the part of the penalty, if it exists after several or one late payment. The legislation of the Russian Federation is moving towards reducing the amount of penalties in the event of a sharp deterioration financial condition the payer - here the court can meet halfway, but only if there are evidentiary documents and a compelling reason for the decline in the financial well-being of the borrower.

Going to court to reduce the rate is practically useless. Even if the reason for the impossibility of payments lies in the jump in currencies, the courts do not make a positive decision on the borrower’s claim. This is justified by the fact that the borrower knew all the terms of the loan, signed the agreement in voluntarily, therefore, is obliged to make payments as prescribed by the schedule.

Exceptions are possible, but only when filing a claim against microfinance and other organizations where the interest rate on the loan exceeds reasonable limits. The same applies to bank loans with an annual interest rate of several hundred units.

The monthly loan payment is determined in loan agreement the amount that a borrower must transfer to a bank or financial institution at a specified time until the loan is fully repaid. Monthly loan payments are divided into two main groups:

• The borrower's contributions towards the body of the loan, that is, he repays the principal amount of the loan;
• Payment of the percentage of the loan amount, that is, the citizen pays for the use of loan funds.

Each loan is individual in nature and may include additional payments, for example, towards insurance premiums or payment for loan servicing. But information about such payments is most often not included in the loan agreement itself, since the amounts here are minimal.

The monthly payment is determined when applying for the loan itself; now most banks, together with the borrower, offer to draw up a debt repayment plan, also called a credit calendar or payment calendar. This document almost always indicates a number of mandatory conditions for the client, namely:

• An end date is set by which the debt must be fully repaid;
• Determined minimum size the amount that is required to be paid within a specified period of time;
• The deadline is indicated until what date or month obligatory payment must be entered.

How to repay a loan correctly?

In order to figure out how to legally reduce loan payments, you need to study the basic principles of repaying debts to banks. So, the first thing that is important for the borrower to carefully consider is the loan calendar, which will be compiled by the inspector of the financial institution. It is also advisable to have a complete understanding of how and under what conditions the debt can be closed ahead of schedule, as well as what the borrower will expect in case of delay.

The monthly loan payment can be calculated in two ways:

1. Annuity, that is, the appointment of monthly payments in equal amounts, and after certain, equal periods. Such a payment includes repayment of both the body of the loan itself and interest charges for the use of loan funds, and in equal amounts.
2. Differentiated payment. It is more difficult to calculate than an annuity, especially if you do it yourself. Typically, at the beginning of the loan term, the monthly payment amount is higher, later. This is due to the fact that interest charges for use credit money occurs only for that part of the debt that remains unpaid. That is, the more loan money the borrower repays, the lower the interest becomes.

If there are other cooperation schemes, but most often they are used in the case of extradition commercial loan. For example, there are cases when monthly payments are not assigned immediately after the loan is issued, but after a certain period, and payments do not always go down, sometimes the opposite happens. The calculation is to increase the source of payment, because such loans are taken with the goal of investing money in circulation and increasing it.

How to reduce your monthly loan payment to the bank?

The question of how to reduce the size of the loan payment most often arises when the situation begins to worsen. There is not enough money to pay off the debt, and the deadlines are clearly running out. It is advisable in advance, even when contacting a financial institution, to ask a question about how to reduce the monthly loan payment in the event that problems arise with its repayment.

Modern banks offer different variants for such clients. The most common of them is the registration of restructuring, extension or refinancing.

Last time, banking organizations They offer another way to reduce loan payments; it is enough to replace the standard repayment scheme with an annuity. This is how you can significantly reduce monthly payments, experts say, savings can reach 20 and sometimes 25 percent. The classic, or standard, debt repayment scheme involves a monthly payment towards a certain part of the main loan, and the interest part on the remaining funds.

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If we talk about differentiated payments, then it is at first that it is most difficult to pay off a loan, because the loan amount is quite large, and the interest you have to pay is also significant. Switching to an annuity, the loan amount along with interest is divided into equal shares, and the burden becomes less. It is best to discuss this option immediately when applying for a loan, especially if you have doubts about your financial capabilities for the next few months.

It's really good way, how to reduce the loan payment, but the amount of overpayment itself in this case increases. The main part of the loan is repaid at a slower rate, therefore, the interest rate becomes higher.

The concept of restructuring - what is it?

Loan restructuring is a measure that is applied to a borrower if he is in default and simply does not have the ability to repay his debt or online. Very often, wondering whether they can reduce their loan payments, people come to the conclusion to use this particular method. Restructuring works in the following ways:

• Part of the debt is simply written off;
• Not only the size of the monthly payment changes, but also the loan terms;
• The debt is exchanged for part of the debtor's property.

The concept of prolongation - what is it?

Prolongation is a postponement of the debt repayment date. If you need to take a time out, but it is not possible to arrange a credit holiday, you can simply defer your payment. In this case, the loan term will be extended, but the payment amounts will be reduced. But, at the same time, prolongation cannot be called a sufficiently profitable way out of the situation for the borrower.

Even if the loan term is significantly increased, this will not reduce the monthly load much. But do not forget that the longer the borrower uses credit funds financial institution, the more the bank makes profit from it. After all, for each additional month of deferment you will have to pay interest.

The concept of refinancing - what is it?

Loan refinancing means taking out a new loan to pay off an existing one. Get new loan as profitable as possible - the bank is almost always ready to reduce the interest rate for such situations. In addition, refinancing provides the following opportunities:

• Reducing the loan term while maintaining loan obligations;
• Reducing the size of monthly payments with the same loan term;
• Obtaining an additional loan to an already issued one, without increasing the level of monthly payments.

There is a clear difference between the concept of restructuring and refinancing. Restructuring is aimed only at reducing the credit burden. But refinancing allows you to reconsider the terms of the loan, arrange more favorable loan. In addition, you can only use restructuring services at the bank where you have already taken out a loan, but many banks offer to refinance the loan.

It is important to know that any loans are subject to refinancing - consumer, car, mortgage, credit or debit card. But most often modern financial institutions go towards those. Who wants to refinance a consumer or car loan. It is also difficult to find an organization that will undertake refinancing foreign currency loan, and even more so, you should not count on the service if you already have a significant debt.

Denis Kornienko, loan officer"DeltaCredit". Author of articles on the DeltaCredit website. Financial expert with experience in leading Ukrainian banks, author of economic articles and financial reviews on the websites of Ukrainian and foreign Internet media.