Consider the main types of loan payment schedules that are offered to legal entities when lending at a bank. The pros and cons of each chart. The choice of the most optimal.
Instructions
Step 1
1) Annuity
With it, the monthly payment amount does not change throughout the loan. This is achieved through a clever formula with raising the denominator of the formula to the power of the loan term. Such a formula cannot be calculated manually. Therefore, it is most beneficial for banks. With this type of loan repayment, you pay all the main interest in the first months of using the loan. Those. the principal debt practically does not decrease in the first years of the loan. And later, if you did not repay the loan ahead of schedule, there is no point in repaying it ahead of schedule, because you have already paid all the interest.
Step 2
2) Equal shares or differential schedule
Its main difference is that you pay the same principal amount every month. At the same time, the interest is different monthly. And paid from the remainder of the principal. It is easy to figure out that in this way your payment will go down. Because the maximum interest you pay in the first month, and then, because on a monthly basis, your principal loan debt decreases, and the amount of interest accrued also decreases.
When comparing the annuity and equal shares, interest for the use of the loan, it is clear that you will pay less when repaying the loan in equal installments.
Step 3
3) Individual schedule
This is a subset of the schedule in equal shares. Its difference is that an entrepreneur can choose for himself a deferral to repay the principal debt of up to 12 months. and pay only interest. Accrual in the future occurs by analogy with the schedule in equal shares.
Step 4
Thus, the most profitable for the entrepreneur in terms of the amount of interest payable will be schedules in equal shares and an individual schedule.
