When returning funds borrowed under a loan agreement, the question arises: what about the interest for the use of funds? The amount of payment for the use of borrowed funds can be directly specified in the agreement. If the amount of interest has not been established, the borrower is obliged to pay the lender interest in accordance with the refinancing rate established by the Central Bank at the time of repayment of the loan.
It is necessary
Calculator, loan agreement
Instructions
Step 1
When concluding a loan agreement, make sure that the issue of interest payment is clearly spelled out in the document. Unlike a loan, a loan can be provided on an interest-free basis. But in this case, such a condition should be directly spelled out in the contract. If you intend to receive from the borrower, indicate in the loan agreement their size and payment procedure.
Step 2
Interest under the loan agreement can be expressed in cash or in kind. If the natural form of payment is more convenient for you, reflect this condition when drawing up the contract.
Step 3
With the participation of the second party involved in the transaction, calculate the interest on the loan, based on the terms of the agreement. To do this, define the following indicators: loan amount, on which interest is charged; interest rate (monthly or annual); the time frame in which the borrower will pay interest; the number of calendar days in the period for which interest is calculated.
Step 4
Consider the return of the principal amount (inclusive).
Step 5
Determine the amount of interest on the loan received using the following formula: Interest = Loan amount x Annual rate: 365 (366) days x Number of days in the period for which interest is calculated.
Step 6
If the interest rate for using the loan is not directly indicated in the agreement, substitute the refinancing rate set by the Central Bank on the day of settlement in this formula instead of it, for example: Loan amount - 10,000 rubles.
The number of loan days is 60.
The refinancing rate of the Central Bank is 8.25%. The calculation will look like this:
10,000 (rubles): 365 (days a year) x 60 (loan days) x 8, 25% (refinancing rate) = 135 rubles. 61 kopecks. (amount of interest).
