Interest-free loans are a relationship with a commitment direction. The existing form is regulated by the loan agreement, as well as by the Civil Code of the Russian Federation.
The party that transfers the funds is the lender, the party that receives the funds or other property, if specified in the agreement, is the borrower.
Loan types
One of the ways of this type of loans is to arrange loans at 0% in a bank. The principle of such a loan is limiting the grace period of debt compensation. As an example, the borrower pays the loan for six months, in this case, interest may not be charged, or interest will be charged for the full loan period.
The next form is an interest-free loan for real estate (installment plan). Often, in reality, interest payments and registration are not provided on completely different conditions than a mortgage in a bank.
The loan agreement must be drawn up on paper, regardless of the amount, payment (clause 1 of article 808 of the Civil Code of the Russian Federation). The contract indicates the amount of the obligation, the conditions and the term for the return of funds (in parts, in full at once).
Is it worth getting a loan without interest?
In our country, interest-free loans are actively used. This form of lending is convenient primarily for many funds, non-profit organizations, for which loans and credits from banks are not profitable at the expense of their interest.
Individual entrepreneurs can borrow money from each other according to such agreements in order to once again avoid high interest rates of banks and not spend a lot of time on paperwork.
If the decision to apply for an interest-free loan has been made, then it is important to know:
- remember and understand about the existence of commission taxes (therefore, if taxes are charged on a monthly basis, then it is necessary to determine the expense for the year);
- when making an interest-free loan, the main thing is to find out all possible offers, what may be more profitable for you, "more economical".
It is necessary to compare all the data, calculate the initial payment, find out about compulsory loan insurance, carefully study the contract and once again concretize all the newly emerging issues.
And it should be remembered that not all that glitters is gold. And often, interest-free loans can get more expensive than any other loan with an interest rate. No matter how tempting the offer is, no bank will be able to provide completely free loans, the cash desk is replenished due to unfulfilled obligations on time, the loss of the opportunity to return borrowed funds.
