How much is your credit?

The theme of the new article prompted by life itself. Recently I spoke with the familiar. She took "credit on the super-special conditions provided for her a large bank, because it is almost a" VIP customer ".

The loan amount of 100 thousand rubles, the term - 2 years. Bonus - a fairly simple registration procedure, since the loan was predodobren. The most advantageous rate - 12.99% per annum. There was only one little thing written in small print - account maintenance fee in the amount of 0.99% of the loan amount. Monthly. So what? Not only same. The total loan payment - 5800 rubles / month. It would seem - small numbers. Live so rejoice. But still wondering - what is the real annual interest rate on the loan?

Respond to this question will help us form in Annex.

32.94% / per annum!

It certainly does not 100 500% like the famous postal operator. But still. Usual rates on consumer loans - in the region of 18-24% per annum. Such are the special offers for vip-clients. What is surprising - the total amount of interest payments - 14 thousand, and on the Commission -. 23.7 thousand. rubles! Friend was lucky - she closed the loan for 3 months. And I did not have time to take full advantage of "service" in the bank's accounts maintenance issue.

But what can we do to avoid being in the same situation?

1) Do not listen to them when they talk about the annual interest rate;

2) Check with the bank's monthly payment on the loan;

3) Refine the term of the loan;

4) Check with the bank if the Commission provided for:
- Cash withdrawal;
- Cash;
- Maintenance of the account;
- Other fees (for registration of the mortgage contract, surety, etc);
At the same time remember that the information on these commissions bank is obliged to provide to the client. Hidden fees, commissions and loan fees - an outlaw.

5) Divide the Commission on:
- Monthly - which will increase our monthly payment;
- One-time - which, in fact, increase the total amount of the overpayment;

6) We are trying to drive the necessary data form and voila! We get the result. Our real annual interest rate. If it differs from the declared - shame the bank and promised to write about it on social networks.

I hope this short article will help you avoid unpleasant surprises in the future. Or open an amazing reality.

Have a good day! The next article will talk about cars.

You may be interested in other articles of the author:

• Keep the money at home? You lose 13% per year!
• How to invest free money: to make a contribution or to repay the loan?