You will need
- Calculator, contract of loan, payment schedule
Calculate the amount of the principal debt, i.e. money borrowed.Even in the case of early repayment of the principal debt is paid in full. As a rule, the amount of the basic needs prescribed in the payment schedule in a separate column. For example, the borrower took out a loan in the amount of 100 thousand rubles for one year. 6 months, he paid regularly, and on the seventh decided to pay off the loan early. The principal amount will be 50 thousand rubles.
Calculate accrued on the loan interest.The interest is often prescribed in the payment schedule in a separate column. In many banks the payments on the loan are annuitants. In this case, the amount of interest for each month will be the same. Therefore, to calculate the interest amount for early repayment is not difficult. If the interest differential, then the payments each month is different, because the amount of interest decreases with each passing day. But if this figure is spelled out in a separate column, calculate the debt this part is also easy.
Calculate all fees. This is the most complicated and laborious process. It is important to consider everything provided by the loan agreement compulsory payments. As a rule, many banks Commission is not subject to recalculation in case of early repayment and must be paid by the borrower along with the loan balance.
Calculate the debt on the loan by adding all the above parameters.Summarizing all the above parameters, it is possible to know the approximate amount of the debt. However, it is better to call the Bank to contact employees of the credit institution through the official website or visit the office of the Bank to ascertain the balance outstanding on the loan. In case if there is considerable disagreement in the counting of the remaining debt, the borrower can always ask an employee of the credit institution to explain away such numbers.
Bank staff are advised in any case not to be calculated on a standalone basis. If the borrower is suddenly not properly deem the interest does not take into account commissions or other mandatory payments, it might be a delay, which will lead to the imposition of fines.