Often, a loan agreement provides for a certain percentage or a fixed amount for default on obligations to the bank. If there are no such parameters in the agreement, then the bank calculates the forfeit based on the current refinancing rate, which is calculated on the basis of a number of indicators.
It is necessary
- the calendar
- calculator
- notebook and pen
Instructions
Step 1
Calculate the amount owed. Otherwise, this parameter is defined as the amount of funds that are required to be paid or returned. This amount can be recognized as a debt under a loan agreement or other document implying a settlement between two individuals or legal entities. The amount owed is designated as C.
Step 2
Determine the number of days of delay. The delay starts from the day when the payment was not credited to the bank account. For example, the due date is the 10th. If the money is not received by 23:59 hours of this date, the bank has the right to charge a penalty on the 11th. This parameter is designated as K.
Step 3
Specify the value of the refinancing rate. The refinancing rate is taken for a specific number. If during the period of non-payment of the debt the Central Bank changed the refinancing rate, then the penalty is calculated separately for each specific period. The refinancing rate is denoted by the symbol P.
Step 4
Determine the number of days in a year. In this parameter, it is worth clarifying that for the percentage for the use of other people's funds, the number of days for calculating the penalty.
Step 5
Calculate the penalty from the refinancing rate. The penalty from the refinancing rate (debt) is calculated by the formula: obligations of the contract, if its term has expired, and the payment deadline was not foreseen in advance.
