Calculate the loan rate
Revealing hidden interest.
Credit. Take or not take. Take with or without insurance.
We count we choose.
Today the market is flooded with loans with very attractive rates. And at the same time, we can see that reputable credit institutions have lending rates that are twice as different from attractive ones. Why?!
Let's figure it out and count.
Let's take the official information from a credit institution from the TOP 10.
Terms. Cash loan for any purpose. The amount is 1 million rubles. Term 36 months.
Below is an offer from a lending institution.
The bank offered us an interest rate of 6.9%. Monthly payment RUB 33 095
Good interest rate. Decision in 2 minutes (Although in fact it is not so !!! You will go to the bank more than once). What else to dream about.
Is this how we can check.
Let's turn to check the amount of the monthly payment and the actual interest to one of the Internet services - a loan calculator.
We introduce similar conditions
Oops. The difference in payments 33095-30831 = 2264 rubles. monthly. For the entire period of the loan, 81,504 rubles are obtained. or 8.15% of the total loan.
Where is the difference hidden?
Let's check from the opposite. From the payment that the credit organization offers us to make on a monthly basis, we will try, by selection, to get the actual percentage of the loan.
It turns out.
And what we got.
The actual interest rate on a loan from a credit institution upon payment is 33,095 rubles. is 11.75%.
Where is the catch.
Insurance! The credit institution has included insurance in the body of the loan. Moreover, the full amount for all years and at once. Using the method of simple calculations, we find that the amount of insurance was 73,520 rubles. And it turns out that we were given a loan of 1,073,520 rubles.
Why the credit institution did not offer the choice of this option on the site when selecting a loan is not clear.
So. At a refinancing rate of 4.25% per annum, i.e. the interest on which the credit institution borrows from the Central Bank to the consumer of the loan, it grows almost three times (2.76 times or 7.5%).
As they say, “in our Kolyma, the credit institution lives on these three percent”.
In this post, we will not analyze the content of the insurance. But we will definitely do it.
1. Take or not take out a loan. Your decision. Although I suppose you already made this decision when you thought about changing your life. There is no need to put off "life" for tomorrow. Of course take.
2. Take out a loan with or without insurance? Well, let's remember. Have you had insurance claims before? Appreciate this. If you are at risk, then you probably need to think about it and take with insurance.
3. Sometimes a loan with insurance, with all its disadvantages, is more profitable than a loan without insurance.
In any case, recount all the proposals of the credit institution.
In this post, we did not aim to estimate the cost of a loan. We wanted to show you how to recalculate the proposed loan to determine the actual loan rate.