The Central Bank of Russia made a decision that allows banks to revise interest rates on already issued loans. In this situation, the best way out will be early repayment of debt. It is better to pay off the loan ahead of time than to pay inflated interest. It is worth noting that banks do not like borrowers who repay loans ahead of schedule.
Analyze your expenses
Only careful analysis and cost control helps to identify what can be saved on. Make a loan repayment schedule and try to stick to it. There is no need to cut your budget to a minimum, but it is better to refuse unnecessary expenses. Your main goal is early repayment of the loan, so it is quite possible to deny yourself the purchase of some trinket. Here we are not talking about the necessary medicines or food, but it is better to give up shopping for now if you set out to pay off debts to banks ahead of schedule.
Find a part-time job
The expression "you can't earn all the money" was invented by lazy people. Don't feel sorry for yourself. There are many options for generating additional income. Direct all the money received to pay off the debt.
Ask for help from the state (state subsidies)
On the information portal BANKDIRECT. PRO. you can get acquainted in detail with the options for state aid, which can be very useful. Government subsidies will help save money and speed up the repayment of debt to credit institutions.
Overpay on the loan
Try to increase your monthly loan payments by 10%. If you have several loans, then focus on paying one debt early, and only then start overpaying the rest of the payments.
Try to refinance your loan
Most banks offer a loan refinancing service. It allows you to get a new, more profitable loan to pay off the old debt.
Never take out a larger amount of a new loan to pay off old debts. This path will lead you into a debt abyss, from which it will be difficult to get out later.
Do not take microloans
"Quick money" or microloans are huge interest rates. There is simply no more unprofitable loan.
Close the loan completely
After you have made the last payment, be sure to take a certificate from the bank that you do not owe anything else. There are many known cases when a minus was formed on a zero balance.
