Many clients of commercial banks believe that calculate the accrued interest on a loan or deposit, independently at home is not possible.And wrong.In fact, if you know exactly the size of bets and the principle of its calculation, then it can be done in just a few minutes, using only a calculator and sheet of paper.
If a person does not know how to calculate interest on the loan, of course, it can add to the payment and superfluous.However, in most cases it turns out that the borrower is not right in his suspicions, just giving their money every month, you can unwittingly become paranoid.So if there is a suspicion that the money goes where it is not clear, it is better to take a printout of a bank check.Before you calculate interest, you should carefully review the loan agreement in order to understand how they are awarded: the actual balance owed on the estimated balance of the schedule or on the original loan amount.Most banks use the first option, but the others can occur.
In general, the ideal contract and the principle of accrual of interest to be studied before the deal is framed but not after some time, but if it does not happen in a timely manner, it is better done later than not to do at all.In fact, the percentage of the loan - the bank's main income is derived from this type of transaction.But the client must understand that it can not be the only one.There are many other ways (and quite legitimate) obtaining money from the citizens.So before you blame the unreasonably accrued interest, must ensure that it is they, and not some "commission monitoring the deal."
If the customer has studied the contract, provided a bank statement and realized that no additional charges should not be, you can start the calculations.Of course, the fact that the check data for a year or a longer period, it will take a lot of time.But you can do less radical measures, considered a few months selectively.It should also be noted that the principle of how to calculate the percentage of the transaction, regardless of the repayment schedule.That is, in the case of an annuity, and the classic version lending calculation performed identically.The only thing that may be different in different situations (this is necessarily spelled out in the contract), the number of days in a calendar year.As a rule, banks believe that their 360, but in some cases it may be 365.
To obtain the amount of interest to be paid in the current (or any other) month following the rest of the body of the loan (which can be seen indischarge) multiplied by the annual rate divided by the number of banking days and multiplied by the number in the same period.For example, with the remainder in cash 30,000 units, a rate of 10% per annum in October (it 31 days) should be credited with 258.33 units.It is provided that 360 days a year.And seeing in the extract other value, you need to ask the specialist why.
If the client does not know how to calculate interest on the deposit, then it is possible, in principle, to do likewise.The deposit agreement also describes the principle of accrual.The only thing to consider in this case - the existence of capitalization.If it is provided by the contract, the calculations are a little more complicated and may need outside help.
