Calculation of psk in excel. The total cost of the loan - how to calculate

Many borrowers take long-term loans, which are paid not in one, but in several (often multiple) payments. Manually calculating the full cost of such loans using standard formulas is simply unrealistic.

S – total amount all payments on the loan (including commissions, insurance, etc.);

S0- the amount of the loan;

n– loan term (in years).

Let's calculate the total cost of our three-month annuity loan as an example. So its sum ( S0) is equal to 100 000 rubles. The loan will be repaid in three annuity payments of 35,296 rubles each. Assume that the bank does not impose any additional hidden fees on the borrower. In this case, the total amount of all payments ( S) will be 105 888 rubles(35296*3=105888). Loan terms ( n) is equal to 0.25 years(3 months / 12 months = 0.25). We substitute these data into our formula and find the UCS:

So the total cost of the loan is 23,552% per annum. To calculate it, we needed a regular calculator and a few seconds of time. Similarly, you can calculate any loan with any number of payments. Our formula can be safely awarded the title of "People's formula for calculating the PSK" - it can be easily dealt with by both a professor and a janitor.

Well, friends, we figured out the formulas and calculations. Let's find out.

Content

Banks, private and public, try their best loan offers lure clients. For this reason, you can often see attractive loan rates in advertisements, but in reality the overpayment is a large amount. The full cost of the loan is a formula, the decoding of which includes, in addition to interest rate all additional payments on consumer or any other loan.

What is the total cost of the loan

Taking advantage of the offer of the bank to borrow money from him, you should always know that interest is only a payment for using money. In addition, there are additional commissions, which are also added to monthly payments. The sum of these components is called the total interest rate. PSK, such an abbreviation of this indicator, is the main value that you need to focus on when choosing a loan. Providing information on the amount of the full cost of the loan is carried out in annual percentage and is indicated in the upper right corner of the bank loan agreement.

Previously, the concept of the effective interest rate was used. It was calculated using the compound interest formula, which included the shortfall in income by the borrower from the possible investment of the amount of interest payments on the loan over the term of the loan at the same interest rate as the loan. For this reason, even in the absence of additional payments the value of the rate was higher than the nominal value. It did not reflect the borrower's real costs of servicing the debt, which the bank's client found out about only when it was time to pay for the loan.

Legal regulation

Seeing this state of affairs, central bank took the side of ordinary people and obliged all financial institutions to convey to customers the full cost of the loan. In 2008, the Bank of Russia issued an instruction “On the procedure for calculating and communicating to the borrower - individual the full cost of the loan. After entry into force federal law“On consumer credit (loan)”, and this happened on July 1, 2014, the value of the full cost borrowed money is determined depending on the average market value of the loan established by the Central Bank.

How to find out the price of a loan

It is noteworthy that in microfinance companies the full cost of the loan is always indicated, and all other payments relate only to penalties and fines for delays and defaults. In a bank, the main indicator is the interest rate for using the loan, additional payments that relate to the loan are indicated by separate clauses in the contract and additional agreements to it.

Notification of the total cost of the loan

Previously, the TIC indicator could be indicated in the contract, but the value was written there in small print, which was not immediately evident. According to federal law, the loan agreement is divided into 2 parts: general and individual conditions. So, in the second part, which has a tabular form, the UCS number is necessarily written in the largest font that is used in the design. Information is indicated in a frame, which should cover at least 5% of the area of ​​the entire sheet, on which individual lending conditions are written.

What does the full cost of the loan include?

The maximum possible value of the TIC should not exceed one third of the average market value and is communicated to the borrower in without fail. In order to figure out where the final UTC figure comes from and why it can sometimes differ from the value in advertising or on the site credit institution, you need to know all its components. These include:

• loan body and interest on it;
• fee for consideration of the application;
• commissions for registration of credit agreements and their issuance;
• opening fees and annual maintenance accounts (loan) or credit cards;
• borrower's liability insurance;
• assessment and insurance of collateral;
• voluntary insurance;
• notarial registration.

What expenses do not increase the cost of the loan

In addition to the mandatory payments that are included in the TIC, the borrower may be charged other payments that do not affect the calculation of the effective, i.e. full rate:

• payment for non-performance of the contract. This includes all kinds of fines and penalties accrued in connection with the late payment of the next payment.
• voluntary payments. These include bank charges for early repayment loans, payment for statements and certificates, restoration of lost credit card etc.
• additional contributions. Here we are talking about payments that have nothing to do with the contract, but may be mandatory in connection with Russian legislation(for example, an OSAGO policy) or initiated by the borrower himself (additional insurance).

How to calculate the total cost of a loan

You can ask about the PSK formula even before concluding an agreement at a bank branch. It must also be provided before signing the agreement. You can also calculate it yourself. However, in this case, it is necessary to carefully approach the calculation and not to miss a single moment, since this can lead to inaccuracies. Very often, borrowers make gross mistakes by inattentively reading the contract and missing certain data.

PSK formula

The calculation of the full cost of the loan is made on the basis of the norms established by the Central Bank of Russia. The formula itself and the calculation algorithm are constantly being improved, therefore, when independently determining the TMC, you need to apply for the latest up-to-date data that are published on the regulator's website. Last changes in the methodology were made in connection with the adoption of the law on consumer lending. The UCS size is calculated as follows:

PSC = i × FBP × 100, where

PSK - the total cost of the loan, expressed as a percentage to the third decimal place;

NBP - the number of base periods during the calendar year (according to the methodology of the Central Bank, one year is equal to 365 days);

i is the interest rate of the base period, which is expressed in decimal form.

(FORMULA)

Σ is "sigma", which means summation (in this formula - from the first payment to the m-th).

DPk is the amount of the k-th cash payment under the contract. The amount of the loan provided to the borrower is marked with a “-” sign, and repayment payments are marked with a “+” sign.

qk is the number of complete base periods from the date of loan disbursement to the date of the kth payment.

ek is the term, expressed in shares of the base period, from the end of the qk-th base period to the date of the k-th payment. If the payment of the debt is carried out strictly according to the repayment schedule, then the value will be equal to zero. In this case, the formula has a simplified form.

m is the number of payments.

i - the interest rate of the base period, expressed not in percentage, but in decimal form.

Calculation algorithm

As can be seen from the calculation formula above, the loan rates are calculated simply, with the exception of an indicator called the interest rate of the base period. This is the most difficult indicator to calculate, which not everyone can handle. It is physically unrealistic to calculate multi-year loans. To simplify the calculations, you can refer to online calculators or directly to the bank. In addition, if you think that the rate given in the contract is not accurate, you can send a copy of the contract to the Central Bank with a request to calculate the correct value.

Full cost of consumer credit

Before concluding a consumer loan agreement, a bank employee is obliged to inform the borrower about the real cost of the loan, which is often confused with the interest rate. Banks may impose fees for services such as internet banking or SMS alerts, which are charged only with the permission of the borrower. The full cost includes not only the amount of the overpayment formed in connection with the accrued interest, but also the payment for the following operations:

• consideration of the application;
• issuance of a loan;
• release bank card;
• withdrawal of cash from the cash desk;
• life insurance (optional).

The cost of a loan when buying a car

When buying a car on credit, you should know that four parties are involved in the transaction at once. Firstly, this is the buyer himself and the bank that credits the purchase, and secondly, the seller, who can be a car dealership or a private person, and Insurance Company. It should be said right away that car insurance under the CASCO system is mandatory if the vehicle is transferred to the bank as collateral. Otherwise, the requirement to purchase an insurance policy is illegal.

The total cost of a car loan is calculated taking into account payments for the following items:

• interest charges;
• commissions for transferring funds to the seller's account;
• pledge insurance;
• additional borrower costs associated with notarial registration documents.

The cost of mortgage lending

Becoming the owner of your own meters has become easier with the advent of mortgages. Banks offer various lending options - with or without a down payment, with government subsidies or using maternity capital– all of this will affect the total cost of the loan. In addition to paying interest to the TIC for the purchase of real estate, the following list of payments must be added:

• insurance collateral(payments of the borrower for insurance of the collateral are included in the calculation of the TIC in an amount proportional to the part of the price of real estate paid for by the loan, as well as the ratio of the loan period and the insurance period, if the borrowing period is less than the insurance period);
• property valuation;
• notarization of the transaction;
• mortgage loan processing and transfer fee Money on account.

All payments to third parties (notary, insurance and other companies) are made using the tariffs of these organizations. If the contract provides for a minimum monthly payment, the calculation of the full cost of a consumer loan is based on this condition.

Example of calculation of UCS

• the principal amount of the loan is 340,000 rubles;
• loan term - 24 months;
• rate - 13% per annum;
• commission for granting a loan - 2.8% of the total amount;
• commission for the issuance of cash from the bank's cash desk - 2.5%.

Below is a system with monthly uniform payments. The amount of interest accrued for the period will be 72,414 rubles (you can see it in the agreement or payment schedule).

Then we calculate the amount of the commission for issuing a loan and cashing out funds:

340000 × 2.8% = 9520 rubles;

340000 × 2.5% = 8500 rubles.

After that, we sum up all the indicators and get:

340000 + 72414 + 9520 + 8500 = 430434 rubles.

Online calculator

Available online a large number of loan calculators to help calculate the TFR for standard loans, microloans and even overdrafts. However, you need to understand that due to the fact that each bank uses its own version of the rate calculation, the data may differ. In addition, it is necessary to take into account the date of issuance of the loan and its repayment, as well as ways to repay the amount of debt: annuity, differentiated or bullet.

Maximum and weighted average of the total cost of consumer loans

The Central Bank quarterly calculates and publishes the average market value of TIC for different types consumer loans. The main thing is that the maximum rate on the loan does not exceed the weighted average rate by more than a third. Below are the values ​​for Q3 2019, taken from official sources:

What does the analysis of PSK give to the borrower

For most people, knowing the TFR means understanding how much borrowing will cost them, because sometimes a loan that only pays interest will end up costing the same amount as a loan with a lower interest rate, but with additional fees. This even occurs in the same bank, and was created in order to attract more customers. When receiving a loan agreement where the TIC is indicated, or by independently calculating the indicator, you need to understand that certain nuances may not always be taken into account, such as, for example, early repayment of the principal debt.

How to reduce the cost of a loan

Having received information about the full cost of the loan, sometimes there is no desire to borrow money. However, if you approach this issue wisely, you can eventually reduce the figure offered by the bank. There are a number of different ways to do this:

• Early repayment of a loan. If you partially or completely repay the debt outside the schedule, this will help reduce the credit burden in the form of unaccrued interest. However, you need to carefully read the contract for penalties, which, on the contrary, can make the loan expensive.
• Issuance of money to a bank card. Many lenders offer cash loans, but they do not advertise that a certain percentage will have to be paid for issuing them from the cash desk. You may ask if it is possible to transfer money to existing map or an account (you can open it for free) and whether there will be a fee for this. Most likely, this option will be cheaper.

Discuss

Financial termsTotal cost of credit (TCC)

Many borrowers take out long-term loans that are repaid not in one, but in several (often multiple) payments. Manually calculating the full cost of such loans using standard formulas is simply unrealistic.

After reading the article The formula for calculating the UCS, you will find out what is i, e k, DP k- they will be discussed further.

Look at how the equation for calculating the interest rate of the base period looks like ( i) for an annuity loan of the size 100 000 rub. taken on 3 months under 35% per annum, provided that e k equals zero:

After completing the calculation of the annuity payment for this loan, we found that it is equal to 35 296 rubles. Actually, this will be our monthly payment ( DP k).

The full cost of the loan: what is it and how to calculate it

For the rest of the values ​​​​of this equation, we hope you have no questions. However, another question arises: “How to solve it ?!” And, mind you, we are considering a loan that is repaid in just three installments. It's scary to imagine what a similar equation would look like for a loan repaid in twenty installments. But such schemes of repayment are widespread.

Simplified UCS formula

The temabiz.com portal team has developed its own formula for calculating the PSC. In our opinion, it is more simple and understandable. Before we demonstrate it, we want to warn you:

This formula is not in the state regulations, and therefore it is not used by credit institutions.

There is no need to require banks to calculate TIC according to our formula - they will not do this. But you can use it to find out for yourself the real full cost of the loan. Okay, enough talking, here it is:

PSK- the total cost of the loan, indicated as a percentage per annum;

S- the total amount of all payments on the loan (including commissions, insurance, etc.);

S0- the amount of the loan;

n– loan term (in years).

An example of a simplified calculation of UCS

Let's calculate the total cost of our three-month annuity loan as an example. So its sum ( S0) is equal to 100 000 rubles. The loan will be repaid in three annuity payments of 35,296 rubles each. Assume that the bank does not impose any additional hidden fees on the borrower. In this case, the total amount of all payments ( S) will be 105 888 rubles(35296*3=105888). Loan terms ( n) is equal to 0.25 years(3 months / 12 months = 0.25). We substitute these data into our formula and find the UCS:

So the total cost of the loan is 23,552% per annum. To calculate it, we needed a regular calculator and a few seconds of time. Similarly, you can calculate any loan with any number of payments. Our formula can be safely awarded the title of "People's formula for calculating the PSK" - it can be easily dealt with by both a professor and a janitor.

Well, friends, we figured out the formulas and calculations. Let's find out what payments are included in the total cost of the loan.

Calculation of the total cost of a loan in Excel using a new formula

TFR (Total Cost of Loan) shows the actual interest rate on a loan. Previously, this criterion was called the effective interest rate. The parameter takes into account not only the principal amount of the debt and interest, but also almost all additional payments of the borrower according to the terms of the loan agreement (commissions, credit card fees, insurance premiums and premiums, if insurance affects the procedure for issuing a loan). Registration fees, penalties, fines and other payments that do not affect the size and conditions of obtaining a loan are not taken into account.

Formula for calculating PSC

Since September 1, 2014, a new formula for calculating the total cost of a loan has been in force. Reason - Federal Law No. 353 of December 21, 2013 "On consumer credit (loan)" (see article 6 "Full cost consumer credit(loan)").

For the new calculation of PSK, legislators have established a formula that, in a number of foreign countries used to find the effective annual percentage rate (APR, or Annual Percentage Rate).

The formula itself:

UCS \u003d i * NBP * 100.

• NBP is the number of base periods in a calendar year. The duration of a calendar year is assumed to be 365 days. With a standard payment schedule from monthly payments according to the annuity system NBP = 12. For quarterly payments, this indicator will be 4. For annual payments - 1.
• i is the interest rate of the base period in decimal form. It is found by fitting as the smallest positive value of the following equation:

Let's analyze the components:

• DP k - the value of the k-th cash flow under a loan agreement. The amount provided by the bank to the borrower is included in the cash flow with a minus sign. Regular payments under the loan agreement - with a plus sign.
• m is the number of payments (the number of amounts in the cash flow).
• e k is the period, expressed in parts of the established base period, calculated from the end of the qkth period to the date of the kth monetary payment;
• q k - the number of base periods from the date of the loan to the k-th cash payment;
• i is the base period rate in decimal form.

Let's show the calculation with an example.

An example of calculating UCS in Excel

The borrower takes 100,000 rubles on 07/01/2016 at 19% per annum. Loan term - 1 year (12 months). The payment method is an annuity. Monthly payment - 9216 rubles.

Enter the input data into an Excel spreadsheet:

Full loan cost - calculation formula

In Excel, this can be done using the IRR function. Let's represent payments on the loan in the form of cash flow:

Let's calculate:

In our example, it turned out that i = 0.01584. This is the monthly size of the PSK. Now you can calculate the annual value of the full cost of the loan.

The formula for calculating UCS in Excel is simple:

The value cell is formatted as a percentage, so there is no need to multiply by 100%. We simply found the product of the term of the loan and the interest rate of the base period.

The calculation according to the new formula showed TIC equal to the contractual interest rate. However, in this example the borrower does not pay the lender additional amounts (commissions, fees). Only percentages.

Consider another example, with additional costs.

Cash flow will change accordingly. Now the borrower will receive 99,000 rubles in his hands. And the monthly payment due to the fee will increase by 500 rubles.

The interest rate of the base period and the total cost of the loan have increased significantly.

This is understandable, because the borrower, in addition to interest, pays a commission and a fee to the lender. And the fee is monthly. Therefore, there is such a noticeable increase in PSC. Accordingly, the cost of the loan product will cost more.

When a borrower decides to take a loan from a bank, no matter what, for example, consumer or mortgage, what is the first thing he pays attention to? For the interest rate. Let's look at what it is and why this very rate may depend.

What is an interest rate?

The interest rate is the amount indicated as a percentage of the loan amount, which the recipient of the loan pays for using it for a certain period of time.

The full cost of the loan - what is it?

If to speak plain language, then the interest rate is the actual payment for the use of funds that the bank issues. And, as you know, you have to pay for services.

What determines the interest rate on a loan?

The interest rate on a loan depends primarily on current rate refinancing of the Central Bank and cannot be lower than the latter. Otherwise, the bank will work at a loss, and no one will allow this.

Then the question arises: why at the current refinancing rate, let's say, 10%, the loan rate is 20%? Don't forget that banks are financial institutions whose work is also aimed at making a profit. Accordingly, the bank's profit is included in the specified 20%.

Please note that the bet amount may vary under similar conditions. For example, two borrowers borrow the same amount from the same bank, but their interest rate is different: one has 17% per annum, and the other has 20% per annum. Why? Because the interest rate also depends on the risks of the bank itself. The interest rate is influenced by factors such as:

• Borrower's income level

• Availability of a guarantor or collateral

• Loan amount and term of its consideration

Accordingly, the less the bank risks, the lower the interest rate.

Types of interest rates

At the moment, there are three main types of interest rates used in lending: simple, compound and floating.

• Simple: during the entire loan term, at each interest rate application period, interest is calculated using initial amount debt.

• Complicated: during the entire loan term, at each period of application of the interest rate, accrued interest is used to calculate interest previous period debt amount.

• The floating rate depends on the current financial indicators. This means that, subject to certain changes, the bank has the right to unilaterally change the interest rate because it has full right. The use of a floating rate for the borrower is beneficial only if the rate decreases, and in conditions modern economy it's hard to count on it.

Is there a maximum interest rate?

Yes. Maximum bet on bank loans in cash should not exceed 57.3% per annum, according to the law "On consumer credit (loan)" as of the time of writing. This value can be adjusted quarterly by the regulator.

However, what has been described is banking organizations, but this will not affect various microfinance companies, so MFI programs, under which the rate can be up to 500-800% per annum, will not disappear anywhere.

When analyzing bank offers, it can be revealed that there is an annual interest rate, and there is also the full cost of the loan (FCC), which is slightly higher than the annual rate.

How to calculate the full cost of the loan - where is it indicated in the contract and what does it consist of

PSK is, in fact, the rate at which the calculation is made loan payments. The smaller this value, the better offer.

The essence of the PUK

The full cost of a consumer or other type of loan is the current interest rate applicable to the contract. That is, it is the annual rate itself, to which various fees are added. Moreover, the law determines what banks can include in the CPS and what not.

What banks can include in the CPS:

• annual interest rate;
• various commissions: for issuing a loan, servicing a credit account, considering an application;
• if we are talking about a credit card, the commission for its issue and maintenance;
• payments in favor of third parties, if they are involved when applying for a loan;
• insurance premiums, if the borrower is not a beneficiary under the insurance contract.

What, according to the law, cannot be included in the PSK:

• any payments related to late repayment of debt;
• commissions for transactions with currency, conversion;
• insurance premiums that are not related to the loan, for example, the purchase of OSAGO when the bank does not require CASCO.

When applying for a consumer loan, it is imperative to compare the offers of different banks, and the comparison must be made not at the annual interest rate, but precisely at the TIC. The lower the TIC under identical conditions for issuing a loan, the more profitable the offer for the borrower.

Annual rate and TIC

The annual interest rate is the main tool for calculating the overpayment, but it is not an objective indicator. In the description of the loan product, banks indicate the rate in annual terms, while the value of the TIC is not normally advertised, since it is always higher.

For example, one bank may offer a loan at 18% per annum, and another at 20%. The borrower sees that the first bank provides more profitable terms conclusion of the contract and refers to it. But if you contact both of these banks and calculate the overpayment, it is quite possible that in a bank where the annual rate is 20%, it will be lower. It's all about the difference in PSK. In the first case, for example, it can be 22% with an annual rate of 18%, and in the second 21% with an annual rate of 20%.

Although bank managers claim that the total cost of a loan is only a technical indicator, in reality it is not. This is an indicator that directly affects the derivation of the payment schedule and the calculation of the overpayment.

PSK in a loan agreement

Prior to the entry into force of the Law on Consumer Lending, the Central Bank simply obliged banks, when issuing loans, to pronounce the value of the TIC to borrowers. But in fact, no one did this, and it was difficult to prove the fact of violation. Therefore, a new clause regarding the PSK was prescribed in the Law, now the client cannot help but see the full cost of the loan.

The fact is that now the size of the full cost of the loan, banks are required to prescribe on the main first page of the loan agreement. The value of the PSK is necessarily included in the frame, which is located in the upper left corner of the loan agreement. Moreover, it should be a noticeable frame, occupying at least 5% of the page. The font for writing information should not be blurry, incomprehensible.

How to calculate consumer credit correctly

A convenient option for the borrower is to use a universal online calculator. It is enough to enter the interest rate, the loan amount and its term into the program: then the calculator displays the payment schedule. But citizens take information about the product of interest on the bank's website, and there it is precisely the annual rate that appears in the description of the loan, and not the TIC. That is, the calculation will be somewhat incorrect, in fact, the overpayment will be greater.

The formula is quite complicated, so it is more convenient to use EXCEL to calculate payments and overpayments, you can also find instructions on the Internet.

In general, the surest method is to contact the bank. To begin with, the calculation of the schedule will be preliminary, since the interest in many banks depends on the personal data of the borrower. But after making an application and receiving a positive response, the client will see the exact amounts. It is not necessary to take a loan immediately, the borrower is given a month to think.

Full cost of the loan

The full cost of the loan.

Excel form for calculating the total cost of the loan - download

As you have already seen, comparing loans is a rather laborious and time-consuming undertaking. In addition, to compare conditions, for example, by mortgage loans different banks, you need to be well versed not only in lending, but also in insurance, and also be a good lawyer. To simplify the procedure, the Central Bank of Russia introduced such a concept as the "full cost of the loan" (previously, the concept of "effective interest rate" was introduced). For deposits, the concept of the full value of the deposit can be used.

Formula for calculating the total cost of a loan

as follows:

, where

• d i — date of the i-th payment;
• d 0 - date of initial payment - is the date of transfer of funds to the borrower;
• n is the number of payments;
• DP i - the amount of the i-th payment under the loan agreement.

  multidirectional payments are reflected with different mathematical signs. Thus, the payment of credit funds to the borrower is reflected with a minus sign, the return of funds and commission payments are reflected with a positive sign;

• TIC - the full cost of the loan, reflected in% per annum

When determining the full cost of a loan, all payments related to the issuance of a loan (commission for issuing, processing an application, etc.) are reflected in the initial payment.

What is included in the calculation of the total cost of the loan:

1. Exactly known payments under the loan agreement, which are payments related to the conclusion and execution of the loan agreement:

to repay the principal amount of the loan;

on payment of interest on a loan;

fees and commissions for drawing up a loan agreement, reviewing an application for lending, issuing credit funds, opening and maintaining an account;

commissions for settlement and cash and operational services

if the calculation is based on a loan on a bank card - commissions for issuing and annual servicing of credit cards

2. Payments to third parties, if the obligation to pay these payments arises from the conclusion of a loan agreement

• real estate or motor vehicle insurance
• payments to notary offices and notaries
• appraisal of pledged property

The calculation of the total cost of the loan does not include

payments of the borrower that do not follow from the loan agreement, but from the requirements of Russian legislation. For example, for a car loan, it will be an OSAGO, which must be concluded in any case;

payments related to non-compliance by the borrower with the terms of the loan agreement. For example, late payments;

payments of the borrower on the loan, which depend on the decision of the borrower or on the variant of his behavior. For example, a fee for early repayment, a fee for receiving cash, a fee for providing information about the state of debt.

If the loan agreement includes different kinds loan accruals depending on the decision of the borrower, the calculation of the total loan amount is calculated based on the maximum possible loan amount (overdaft limit), loan term, equal payments under the loan agreement.

Calculation example:

Basic terms of the loan:

In this example, the total cost of the loan was 55,49 %

As you can see, the total cost of the loan can be very different from the interest rate declared and advertised by the bank.

In addition, you should not confuse it with such a concept as an increase in the cost of a loan, which to a greater extent depends not on the interest rate, but on the loan term.

The full cost of a loan is difficult to calculate using a calculator, but Excel can be a huge help in calculating it. In spreadsheets, this calculation is implemented using the IRR function ( inside rate profitability). If you need to compare several programs, download excel form to calculate the total cost of the loan.

← Full value of the deposit

Deposit replenishment →

As you have already seen, comparing loans is a rather laborious and time-consuming undertaking. In addition, in order to compare conditions, for example, for mortgage loans from different banks, you need to be well versed not only in lending, but also in insurance, and also be a good lawyer. To simplify the procedure, the Central Bank of Russia introduced such a concept as the "full cost of the loan" (previously, the concept of "effective interest rate" was introduced). For deposits, the concept of the full value of the deposit can be used.

Formula for calculating the total cost of a loan

as follows:

• d i — date of the i-th payment;
• d - date of initial payment - is the date of transfer of funds to the borrower;
• n is the number of payments;
• DP i - the amount of the i-th payment under the loan agreement. multidirectional payments are reflected with different mathematical signs. Thus, the payment of credit funds to the borrower is reflected with a minus sign, the return of funds and commission payments are reflected with a positive sign;
• TIC - the full cost of the loan, reflected in% per annum

When determining the full cost of a loan, all payments related to the issuance of a loan (commission for issuing, processing an application, etc.) are reflected in the initial payment.

What is included in the calculation of the total cost of the loan:

1. Exactly known payments under the loan agreement, which are payments related to the conclusion and execution of the loan agreement:

to repay the principal amount of the loan;

on payment of interest on a loan;

fees and commissions for drawing up a loan agreement, reviewing an application for lending, issuing credit funds, opening and maintaining an account;

commissions for settlement and cash and operational services

if the calculation is based on a loan on a bank card - commissions for issuing and annual servicing of credit cards

2. Payments to third parties, if the obligation to pay these payments arises from the conclusion of a loan agreement

• real estate or motor vehicle insurance
• payments to notary offices and notaries
• appraisal of pledged property

The calculation of the total cost of the loan does not include

payments of the borrower that do not follow from the loan agreement, but from the requirements of Russian legislation. For example, for a car loan, it will be an OSAGO, which must be concluded in any case;

payments related to non-compliance by the borrower with the terms of the loan agreement. For example, late payments;

payments of the borrower on the loan, which depend on the decision of the borrower or on the variant of his behavior. For example, a fee for early repayment, a fee for receiving cash, a fee for providing information about the state of debt.

If the loan agreement provides for different types of accruals on the loan, depending on the decision of the borrower, the calculation of the total loan amount is calculated based on the maximum possible loan amount (overdaft limit), the loan term, and equal payments under the loan agreement.

Calculation example:

Basic terms of the loan:

debt at the end

In this example, the total cost of the loan was 55,49 %

As you can see, the total cost of the loan can be very different from the interest rate declared and advertised by the bank. In addition, you should not confuse it with such a concept as an increase in the cost of a loan, which to a greater extent depends not on the interest rate, but on the loan term.

The full cost of a loan is difficult to calculate using a calculator, but Excel can be a huge help in calculating it. In spreadsheets, this calculation is implemented using the IRR (internal rate of return) function. If you need to compare multiple programs, download an Excel form to calculate the total cost of a loan.

What is the total cost of a loan?

​The total cost of a loan (FCC) is one of the most important indicators, the definition of which allows one to judge financial costs the borrower, stipulated by the loan agreement and arising from it. Moreover, if the bank does not comply with the calculation rules or the borrower is not properly informed about the CPS before the conclusion of the contract, this is considered a violation statutory requirements, which may lead to its recognition as invalid with the return to the borrower of illegally withheld amounts.

In Russian banking practice, the term "full cost of a loan" has been used since 2008, replacing the term "effective interest rate". The rules for calculating the TIC (formula and algorithm), as well as the conditions for applying in relation to certain credit products, are established by the Central Bank and the law. They are subject to change, therefore, if it is necessary to carry out independent calculations of the UCS, you should always refer to the current ones at the time of calculation. legal acts and take into account the date of conclusion of the loan agreement and its conditions.

Currently, the so-called updated formula for calculating the PSC is used, which appeared after the amendments to the Consumer Credit Law. It approached real lending conditions and became more accurate, but most importantly, it made it possible to make the conditions of microloans more understandable and transparent to the population, under which huge interest and the total cost of a loan were previously hidden under small daily charges.

The concept of the full cost of the loan

Full cost of the loan- the amount, expressed as a percentage, that the borrower has to pay to repay credit debt and for servicing the loan. CIC reflects the borrower's real expenses associated with the loan, but includes only those payments that are due to the proper execution and servicing of the loan and in compliance with the conditions specified in the loan agreement. It is for this reason that the CPS does not take into account the costs associated with penalties, compliance with legal requirements, such as OSAGO, commissions and penalties, which depend on the actions of the borrower and leave him the right to choose whether to take such costs or not.

PSK should include the amounts:

• principal debt and interest on it;
• commissions for processing and (or) issuing a loan, opening and (or) servicing a loan (credit) account, performing settlement operations on a loan, etc., if such payments are provided;
• commissions for issuing and (or) servicing a credit card;
• additional payments arising from the loan agreement, in particular, related to the borrower's liability insurance, valuation and insurance of collateral, notarization of the transaction.

The calculation of TIC and its size must be given in the terms of the loan agreement, and are often published by the bank in advance in information description specific loan product. Moreover, often on the bank’s website or other Internet resources where bank offers, an online calculator is provided to calculate the PSC.

What does the TIC indicator itself and its analysis give the borrower? For the vast majority of people, the real size of the overpayment on the loan is important. For this, it is not necessary to calculate anything on your own. The annual percentage of PSK itself will clearly show how much the overpayment will be based on the amount received in debt, interest, loan term and the debt repayment system used (differentiated or annuity). Thus, it is easy to analyze the cost of different loan products and choose the one that will be more profitable. True, it should be noted that a competent analysis involves a deeper understanding of the specifics of the calculation of the TIC and the content of the loan conditions. The full cost will give an idea of ​​the possible amount of the overpayment, but it does not take into account, and cannot take into account situations in which the borrower decides to repay the loan ahead of schedule, thereby reducing the amount of the overpayment. In addition, the CPM itself does not allow one to analyze how beneficial a particular product will be qualitatively, and not quantitatively. Therefore, PSK is a good, but not the only guideline when choosing a loan. Everything must be considered together.

PSK calculation

The algorithm and formula for calculating the TIC are the same for all banks. However, taking into account the fact that individual loan products (consumer, car loans, mortgages, etc.) have nuances in terms of the mandatory inclusion of specific parameters in the calculation and the specifics of their formation, some individual features of the algorithm application and calculations are acceptable. In any case, this should not affect the principles and rules of settlements provided for by regulatory legal acts.

To calculate the TIC, say, for a consumer loan, you must be guided by the rules of Article 6 of the Law on consumer loan. It also lists the requirements for informing the borrower about the CPS and ways to display the full cost of the loan in the terms of the contract. The requirements established for consumer loans also apply to microfinance organizations that issue microloans to the population. However, they do not apply to mortgages - here you need to be guided by the acts of the Central Bank.

Taking into account the need for mathematical knowledge, understanding the specifics of the algorithms and calculations of the TIC, the current regulations, the ability to analyze the terms of loan agreements, independent calculations are a laborious process. In addition, it is impossible to unconditionally apply the provisions of laws in terms of the established rules for calculating the TIC, which does not provide for recourse to relevant acts(instructions, clarifications, regulations) of the Central Bank. The need for this is also indicated in the laws themselves, where references to the parameters and conditions established by the Bank of Russia are often used. In this regard, almost none of the borrowers do independent calculations of the TIC, or they use software, including online calculators that do not require understanding the calculation algorithm.

To simplify your task, just refer to the terms of your loan agreement. Banks are required to indicate the PSK in the contract, while it is assumed that they have fulfilled their obligation to inform the client in full. In case of unreliability of the information, the bank or MFO bears administrative responsibility, and the borrower has the right to claim the correct recalculation of the TIC, the return of illegally withheld amounts and compensation for losses.

When analyzing the TIC specified in a consumer loan (microloan) agreement, it is important to pay attention to the fact that its size does not exceed by more than 1/3 the average market TIC value calculated by the Central Bank for a similar category of loans and used in the calendar quarter of the contract. However, by its decision, the Central Bank has the right to limit the application of this rule. This opportunity was already used by the Bank of Russia in the first half of 2015. The average market value of the TIC and restrictions on its use (if any) can be found on the website of the Central Bank of the Russian Federation or from other official sources.

• Moscow: +7-499-350-97-04
• Saint Petersburg: +7-812-309-87-91

the full cost of the loan is determined as a percentage per annum according to the formula:

di - date of the i-th cash flow (payment);

d0 - date of initial cash flow (payment) (coincides with the date of transfer of funds to the borrower);

n is the number of cash flows (payments);

DPi - the amount of the i-th cash flow (payment) under the loan agreement. Multidirectional cash flows (payments) (inflow and outflow of funds) are included in the calculation with opposite mathematical signs, namely: the provision of a loan to the borrower on the date of its issuance is included in the calculation with a “minus” sign, the repayment of the loan by the borrower, the payment of interest on the loan are included in calculation with a plus sign.

TIC - the total cost of the loan, in % per annum.

When determining the full cost of the loan, all fees (commissions) preceding the date of transfer of funds to the borrower (for example, for consideration of a loan application) are included in payments made by the borrower at the date of the initial cash flow (payment) (d0).

The calculation of the total cost of the loan includes:

The borrower's payments under the loan agreement related to the conclusion and execution of the loan agreement, the amounts and terms of payment of which are known at the time of the conclusion of the loan agreement, including:

• - to repay the principal amount of the loan,
• for paying interest on a loan,
• fees (commissions) for consideration of a loan application (drawing up a loan agreement),
• commissions for issuing a loan,
• commission for opening, maintaining (servicing) the borrower's accounts (if their opening and maintenance is conditioned by the conclusion of a loan agreement),
• commissions for settlement and operational services,
• commissions for the issuance and annual maintenance of credit and settlement (debit) cards (hereinafter referred to as bank cards);

Payments by the borrower to third parties, if the borrower's obligation to make such payments arises from the terms of the loan agreement, which defines such third parties (for example, insurance companies, notary offices, notaries). These payments include payments for the valuation of pledged property (for example, apartments), payments for life insurance of the borrower, borrower liability, collateral (for example, apartments, vehicle) and other payments.

If the terms of the loan agreement specify a specific third party, the tariffs of this person are used to calculate the total cost of the loan. The rates used to calculate the full cost of a loan may not take into account the individual characteristics of the borrower (for example, his age or driving experience) and the subject of collateral (for example, the manufacturer, model or year of manufacture of the vehicle). If the credit organization does not take into account such features, the borrower should be informed about it. If, when calculating the full cost of the loan, payments to third parties cannot be unambiguously determined for the entire loan term, payments to third parties for the entire loan term are included in the calculation of the full cost of the loan based on the tariffs determined on the day the full cost of the loan is calculated .

If the loan agreement specifies two or more third parties, the calculation of the full cost of the loan can be carried out using the rates of any of them, indicating information about the person whose rates were used to include in the calculation of the full cost of the loan, as well as information that if the borrower uses the services of another person, the total cost of the loan may differ from the calculated one.

The borrower's payments for insurance of the collateral are included in the calculation of the full cost of the loan in an amount proportional to the part of the cost of the goods (services) paid at the expense of the loan, as well as the ratio of the loan period and the insurance period, if the loan period is less than the insurance period.

The calculation of the total cost of the loan does not include:

• payments by the borrower, the obligation of which the borrower does not follow from the loan agreement, but from the requirements of the law (for example, when concluding an agreement compulsory insurance civil liability of vehicle owners);
• payments related to non-compliance by the borrower with the terms of the loan agreement;
• the borrower's payments for servicing the loan stipulated by the loan agreement, the amount and (or) terms of payment of which depend on the decision of the borrower and (or) the variant of his behavior, including:
  • commission for partial (full) early repayment of the loan,
  • commission for obtaining (repaying) a loan in cash (for cash service), including using ATMs,
  • forfeit in the form of a fine or penalty, including for exceeding the overdraft limit set by the borrower,
  • fee for providing information on the state of debt.
  • For bank cards, the calculation of the full cost of the loan does not include: commissions for transactions in a currency other than the currency of the account (the currency of the granted loan); fees for the suspension of operations on a bank card; commissions for crediting funds to a bank card by other credit institutions.

If the loan agreement provides for different amounts of the borrower's payments on the loan, depending on the decision of the borrower, the calculation of the total cost of the loan is made based on the maximum possible loan amount (overdraft limit) and the loan term (validity bank card), uniform payments under the loan agreement (repayment of the principal amount of the loan, payment of interest on the loan and other payments specified by the terms of the loan agreement). If the loan agreement provides for a minimum monthly (regular) payment, the calculation of the total cost of the loan is made based on this condition.

Information on the full cost of the loan, the list and amounts of payments included and not included in the calculation of the full cost of the loan, as well as the list of payments in favor of third parties not specified in the loan agreement are communicated by the credit institution to the borrower as part of the loan agreement.

The repayment schedule for the full amount payable by the borrower may be communicated to the borrower as an annex to the loan agreement (additional agreement to the loan agreement).

When changing the terms of the loan agreement, entailing a change in the total cost of the loan, the new (adjusted) value of the total cost of the loan is determined taking into account payments made from the beginning of the term of the loan agreement. The method and form of communicating to the borrower information about the new (updated) value of the full cost of the loan may be established in the loan agreement, including in the case when the possibility of changing the terms of the loan agreement by the credit institution unilaterally is provided.

The credit institution is obliged to inform the borrower about the full cost of the loan before entering into a loan agreement and before changing the terms of the loan agreement, entailing a change in the full cost of the loan, in accordance with paragraph 5 of this Instruction. This information may be communicated to the borrower in the draft loan agreement (supplementary agreement), in documents sent by the parties to each other in the process of concluding a loan agreement (supplementary agreement), in other ways that confirm the fact that the borrower is familiar with the specified information and provide for the date and signature of the borrower .

Instruction "On the procedure for calculating and communicating to the borrower - an individual of the full cost of the loan" dated May 13, 2008 No. 2008-U was registered by the Ministry of Justice Russian Federation May 29, 2008, Registration number 11772

and published in the Bulletin of the Bank of Russia and in accordance with the decision of the Board of Directors of the Bank of Russia (minutes of the meeting of the Board of Directors of the Bank of Russia dated May 13, 2008 No. 10) came into force on June 12, 2008.

(I give this data in case you want to read this Instruction in the original source).

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Credit cost. What is the total cost of the loan. Calculation, formula, maximum loan cost

The conditions for obtaining a loan have become more “transparent” - the Central Bank has banned financial institutions from using “wired” commissions and other tricks to attract borrowers. The client must know the full cost of the loan before signing the loan agreement.

Full cost of the loan: what is it

The total cost of a loan (FCC) is the amount that the borrower pays to repay the debt and payments associated with banking services loan. This value is calculated as a percentage and reflects the real, not the formal appreciation of the loan. The term "full cost of credit" came into use in 2008, replacing the phrase "effective interest rate".

The Central Bank obliged financial institutions to prescribe PSK in a loan agreement. The value is displayed in the upper right corner on the first page of the document.

According to the instructions of the Central Bank, the total cost of the loan includes:

1. Payments related to the execution and fulfillment of the terms of the contract:

• loan body - loan amount;
• interest charges;
• payment for consideration of the application;
• one-time fee for issuing a loan;
• commission for opening/maintenance of a bank account;
• fee for the issuance / maintenance of "plastic" - a debit or credit card.

Example. A bank client has issued a targeted consumer loan for the purchase of a refrigerator. The cost of equipment is 30,000 rubles, the loan repayment period is 12 months, the estimated rate is 25% per annum. Additional expenses: equipment insurance - 1000 rubles, loan issuance fee - 2% of the loan amount, monthly maintenance fee - 50 rubles.

1. Open the program " Credit calculator”, which provides the option to calculate the UCS.

2. Enter your loan details.

For the entire period of lending, the borrower will overpay 6490 rubles, which is 21.63% of the loan amount. At the same time, the effective interest rate is not 25% per annum declared by the bank, but 39.60%.

Important! With an increase in the loan repayment period, the total cost of a consumer loan decreases, and the total overpayment increases.

When changing the debt repayment period from 12 to 24 months, the following results are obtained.

As can be seen from the example, the overpayment increased to 11306 rubles, and the TIC decreased to 34.48%.

car loan price

Four subjects are involved in the transaction for buying a car on credit: the borrower, the bank, the car dealership and the insurance company. The calculation of the cost of a car loan includes several parameters:

1. The price of a car. This value includes the size down payment and loan amount.

2. Interest accrued in accordance with the loan agreement. The loan rate depends on a number of criteria:

• make and type of vehicle;
• the size of the down payment;

4. Notary expenses.

5. Commission for registration and issuance of a loan.

Important! Amount insurance premium(about 10% of the cost of the vehicle) and the cost of additional equipment for cars offered by a car dealership can be added to the amount of the principal debt. This will increase the final loan amount and affect the amount of the overpayment.

In order to reduce the payment burden on the borrower, banks have developed special program- loan from residual value. The part of the loan remaining after making the initial installment and payment of payments according to the schedule is repaid at the end of the loan term in one payment.

For example, a client plans to buy a car worth 1,000,000 rubles. on credit. If you issue a loan with a residual payment of 30%, then the remaining 20% ​​is divided into equal payments for 35 months. At the end of the period, the borrower will be able to repay the debt in one of the following ways:

• deposit the remaining amount into a bank account;
• sell the car to the dealer using the Trade in system;
• apply for a loan extension for up to 2 years.

Mortgage cost

The total cost of the mortgage includes:

1. The amount of the loan (the value of the acquired property minus the down payment).

2. The amount of interest accrued for the entire period of the mortgage.

3. Insurance premiums paid at the request of the bank:

• insurance of property pledged against the risks of loss and damage;
• borrower's life insurance.

4. Expenses for real estate appraisal and obtaining an extract from the register of property rights.

5. Cost of registration of the transaction at the notary.

6. One-time commission of the bank for registration / issuance of a loan.

7. Expenses of the borrower for servicing a bank account.

Calculation example. The client buys an apartment secondary market, the value of the property is 2,000,000 rubles. To complete the transaction, the borrower plans to take out a loan in the amount of 1,500,000 rubles, the term is 120 months, the nominal rate is 13.5%. The costs of the client on registration of the mortgage will be:

• one-time commission for processing a loan - 1.5%;
• real estate appraisal - 3000 rubles;
• life insurance of the borrower and real estate - 0.5% each (contributions are paid annually based on the debt on the loan);
• expenses at the notary - 10,000 rubles.

All data should be entered into the online calculator calculation form and summed up.

The full cost of the mortgage (effective interest rate) will be 14.68% per annum.

Maximum loan value

The Central Bank of the Russian Federation has determined the boundary value different categories credit products. Banks that exceed these indicators can be held liable, up to the revocation of the license.

Maximum and average market value of the total cost of loans

1. The cost of the loan depends on the amount of the client's down payment (for mortgages and car loans). When making own funds more than 50% of banks go to lower interest rates and are less demanding on insurance.

2. The client can choose annual insurance of collateral, based on the amount of debt to the bank. In this case, the amount of the insurance premium will decrease every year.

3. Get a loan "cheaper" in a bank than in a microfinance organization. A separate grid of credit cost limits has been developed for MFIs. Effective rate for a short-term unsecured loan issued by an MFI can reach 900% per annum.

How to calculate the full cost of the loan - where is it indicated in the contract and what does it consist of

Banks, private and public, are trying to lure customers with their loan offers. For this reason, you can often see attractive loan rates in advertisements, but in reality, the overpayment is a large amount. The full cost of the loan is a formula, the decoding of which includes, in addition to the interest rate, all additional payments on a consumer or any other loan.

What is the total cost of the loan

Taking advantage of the offer of the bank to borrow money from him, you should always know that interest is only a payment for using money. In addition, there are additional commissions, which are also added to monthly payments. The sum of these components is called the total interest rate. PSK, such an abbreviation of this indicator, is the main value that you need to focus on when choosing a loan. Providing information on the amount of the total cost of the loan is carried out in annual percentages and is indicated in the upper right corner of the bank loan agreement.

Previously, the concept of the effective interest rate was used. It was calculated using the compound interest formula, which included the shortfall in income by the borrower from the possible investment of the amount of interest payments on the loan over the term of the loan at the same interest rate as the loan. For this reason, even in the absence of additional payments, the value of the rate was higher than the nominal value. It did not reflect the borrower's real costs of servicing the debt, which the bank's client found out about only when it was time to pay for the loan.

Legal regulation

Seeing this state of affairs, the Central Bank took the side of ordinary people and obliged all financial institutions to convey to customers the full cost of the loan. In 2008, the Bank of Russia issued an instruction "On the procedure for calculating and communicating to the borrower - an individual the full cost of the loan." After the entry into force of the federal law "On consumer credit (loan)", which happened on July 1, 2014, the value of the total cost of borrowed funds is determined depending on the average market value of the loan established by the Central Bank.

How to find out the price of a loan

It is noteworthy that in microfinance companies the full cost of the loan is always indicated, and all other payments relate only to penalties and fines for delays and defaults. In a bank, the main indicator is the interest rate for using the loan, additional payments that relate to the loan are indicated by separate clauses in the contract and additional agreements to it.

Notification of the total cost of the loan

Previously, the TIC indicator could be indicated in the contract, but the value was written there in small print, which was not immediately evident. According to federal law, the loan agreement is divided into 2 parts: general and individual conditions. So, in the second part, which has a tabular form, the UCS number is necessarily written in the largest font that is used in the design. Information is indicated in a frame, which should cover at least 5% of the area of ​​the entire sheet, on which individual lending conditions are written.

What does the full cost of the loan include?

The maximum possible value of the TIC should not exceed one third of the average market value and is communicated to the borrower without fail. In order to figure out where the final TIC figure comes from and why it can sometimes differ from the value in advertising or on the website of a credit institution, you need to know all its components. These include:

• loan body and interest on it;
• fee for consideration of the application;
• commissions for registration of credit agreements and their issuance;
• interest for opening and annual maintenance of an account (loan) or credit card;
• borrower's liability insurance;
• assessment and insurance of collateral;
• voluntary insurance;
• notarial registration.

What expenses do not increase the cost of the loan

In addition to the mandatory payments that are included in the TIC, the borrower may be charged other payments that do not affect the calculation of the effective, i.e. full rate:

• payment for non-performance of the contract. This includes all kinds of fines and penalties accrued in connection with the late payment of the next payment.
• voluntary payments. These include a bank commission for early repayment of a loan, payment for statements and certificates, restoration of a lost credit card, etc.
• additional contributions. Here we are talking about payments that have nothing to do with the contract, but may be mandatory in connection with Russian law (for example, an OSAGO policy) or initiated by the borrower himself (additional insurance).

1. The total cost of a consumer credit (loan) is determined both as a percentage per annum and in monetary terms and is calculated in accordance with the procedure established by this Federal Law. The full cost of the consumer credit (loan) is placed in square frames in the upper right corner of the first page of the consumer credit (loan) agreement in front of the table containing the individual terms of the consumer credit (loan) agreement, and is applied in numbers and capital letters in black on a white background, clear, good readable font maximum size of the font sizes used on this page. The full cost of a consumer credit (loan) in monetary terms is placed to the right of the total cost of a consumer credit (loan), determined as a percentage per annum. The area of ​​each square frame must be at least 5 percent of the area of ​​the first page of the consumer credit (loan) agreement.

2. The full cost of a consumer credit (loan), determined as a percentage per annum, is calculated by the formula:

(see text in previous edition)

PSK \u003d i x NBP x 100,

where PSK - the total cost of the loan in percent per annum to the third decimal place;

NBP - the number of base periods in a calendar year. The duration of a calendar year is recognized as equal to three hundred and sixty-five days;

(see text in previous edition)

2.1. The base period interest rate is defined as the smallest positive solution to the equation:

where is the sum of the k-th cash flow (payment) under the consumer credit (loan) agreement. Multidirectional cash flows (payments) (inflow and outflow of funds) are included in the calculation with opposite mathematical signs - the provision of a loan to the borrower on the date of its issuance is included in the calculation with a minus sign, the repayment of the loan by the borrower, the payment of interest on the loan are included in the calculation with the sign "a plus";

The number of full base periods from the moment the loan is issued to the date of the k-th cash flow (payment);

The period, expressed in shares of the base period, from the end of the -th base period to the date of the k-th cash flow;

m - the number of cash flows (payments);

i - the interest rate of the base period, expressed in decimal form.

2.2. The base period under a consumer credit (loan) agreement is the standard time interval that occurs most frequently in the payment schedule under a consumer credit (loan) agreement. If the payment schedule under the consumer credit (loan) agreement does not contain time intervals between payments lasting less than one year or equal to one year, one year is recognized as the base period. For consumer credit (loan) agreements with a credit limit, the procedure for calculating the full cost of the credit (loan) established by part 7 of this article is used. If two or more time intervals occur in the payment schedule under a consumer credit (loan) agreement more than once with the same highest frequency, the smallest of these intervals is recognized as the base period. If there are no recurring time intervals in the payment schedule under a consumer credit (loan) agreement and no other procedure is established by the Bank of Russia, the base period is the time interval that is the arithmetic average for all periods, rounded up to the standard time interval. A standard time interval is recognized as a day, month, year, as well as a certain number of days or months, not exceeding one year in duration. For the purpose of calculating the full cost of the loan, the duration of all months is recognized as equal.

3. When determining the full cost of a consumer credit (loan), all payments preceding the date of transfer of funds to the borrower are included in the payments made by the borrower as of the date of the initial cash flow (payment) ().

4. The calculation of the full cost of a consumer credit (loan) includes, taking into account the specifics established by this article, the following payments by the borrower:

1) on repayment of the principal amount of debt under a consumer credit (loan) agreement;

2) on payment of interest under a consumer credit (loan) agreement;

3) the borrower's payments in favor of the creditor, if the borrower's obligation for such payments follows from the terms of the consumer credit (loan) agreement and (or) if the issuance of a consumer credit (loan) is made dependent on the making of such payments;

4) payment for the issuance and maintenance of an electronic means of payment when concluding and executing a consumer credit (loan) agreement;

5) payments in favor of third parties, if the obligation of the borrower to pay such payments follows from the terms of the consumer credit (loan) agreement, which defines such third parties, and (or) if the issuance of a consumer credit (loan) is made dependent on the conclusion of an agreement with third party. If a third party is determined by the terms of the consumer credit (loan) agreement, the tariffs applied by this person are used to calculate the full cost of the consumer credit (loan). Tariffs used to calculate the full cost of a consumer credit (loan) may not take into account the individual characteristics of the borrower. If the lender does not take into account such features, the borrower must be informed of this. If, when calculating the full cost of a consumer credit (loan), payments in favor of third parties cannot be unambiguously determined for the entire loan period, payments in favor of third parties for the entire loan period based on tariffs are included in the calculation of the full cost of a consumer loan (loan). determined on the day of calculation of the full cost of consumer credit (loan). If the consumer credit (loan) agreement specifies several third parties, the calculation of the full cost of the consumer credit (loan) can be carried out using the tariffs applied by any of them, and indicating information about the person whose tariffs were used when calculating the total cost of the consumer credit (loan). credit (loan), as well as information that when the borrower applies to another person, the full cost of the consumer credit (loan) may differ from the calculated one;

6) the amount of the insurance premium under the insurance contract if the beneficiary under such contract is not the borrower or a person recognized as his close relative;

7) the amount of the insurance premium under a voluntary insurance agreement if, depending on the conclusion of the voluntary insurance agreement by the borrower, the lender offers different terms of the consumer credit (loan) agreement, including in terms of the consumer credit (loan) repayment period and (or) the full cost credit (loan) in terms of interest rate and other payments.

4.1. The calculation of the total cost of a consumer credit (loan) in percent per annum includes the borrower's payments specified in parts 3 and this article. The full cost of a consumer credit (loan) in monetary terms means the sum of all the borrower's payments specified in Part 3 and Clauses 2-7 of Part 4 of this Article.

5. The calculation of the total cost of a consumer credit (loan) does not include:

1) payments by the borrower, the obligation to make which the borrower follows not from the terms of the consumer credit (loan) agreement, but from the requirements of federal law;

2) payments related to non-performance or improper execution the borrower of the terms of the consumer credit (loan) agreement;

3) the borrower's payments for servicing the loan, which are provided for by the consumer credit (loan) agreement and the amount and (or) terms of payment of which depend on the decision of the borrower and (or) the variant of his behavior;

4) payments by the borrower in favor of insurance companies when insuring the subject of pledge under a pledge agreement that secures claims against the borrower under a consumer credit (loan) agreement;

5) the borrower's payments for services, the provision of which does not condition the possibility of obtaining a consumer credit (loan) and does not affect the value of the total cost of the consumer credit (loan) in terms of the interest rate and other payments, provided that the borrower is provided with an additional benefit compared to the provision of of such services on the terms of a public offer and the borrower has the right to refuse the service within fourteen calendar days with the return of part of the payment in proportion to the cost of the part of the service provided before the notice of refusal.

6. When providing a consumer credit (loan) with a credit limit, the calculation of the full cost of a consumer credit (loan) does not include the borrower's fee for operations in a currency other than the currency stipulated by the agreement (the currency in which the consumer credit (loan) is granted), for the suspension of transactions carried out using an electronic means of payment, and other expenses of the borrower related to the use of an electronic means of payment.

7. If the terms of the consumer credit (loan) agreement provide for the payment by the borrower of various payments by the borrower, depending on his decision, the calculation of the total cost of the consumer credit (loan) is made based on the maximum possible amount of the consumer credit (loan) and the terms of repayment of the consumer credit ( loan), equal payments under a consumer credit (loan) agreement (repayment of the principal amount of the debt, payment of interest and other payments determined by the terms of the consumer credit (loan) agreement. If the consumer credit (loan) agreement provides for a minimum monthly payment, calculation of the full the cost of consumer credit (loan) is made on the basis of this condition.