At the end of 2013, the Consumer Credit Law came into force. Guided by it, you can prove to the lender who requires to repay the loan ahead of schedule, in which case he has the right to do so.
Bad credit history
If you have repeatedly delayed loan payments, i.e. violated the terms of the agreement with the bank, the latter has the right to demand to pay not only the debt, but also the entire loan amount with accrued interest.
Usually, the bank itself sets the terms of payment, but it cannot be less than a month from the moment the notification was sent to you.
The same applies to delays in the payment of compulsory insurance. If you are more than a month late with its payment, the bank may demand full repayment of the loan.
Inappropriate use of the received loan
A consumer loan is issued for specific purposes: buying a car, a country house, etc. If you spend money for other purposes, wait for notification of early repayment of the loan.
Is it possible to repay the loan ahead of schedule without commission?
Can. Until 2011, for the desire to close the loan before the end of the term, the borrower had to pay decent fines or commissions. But since 2011, by amendments to the Civil Code, banks are prohibited from doing this. However, if you are a legal entity or a self-employed person, the bank may charge an early repayment fee.
Is it possible to repay a mortgage loan ahead of schedule?
Basically, contracts are drawn up in such a way that early repayment is envisaged and negotiated. It is profitable for the owner of mortgage square meters to settle with the bank ahead of schedule, for the bank it is not profitable. And the bank goes to its own tricks in order not to miss its own. Recently, the annuity payment scheme has become widespread, when the monthly payment consists of interest and a small part of the principal. Sometimes the subject of the agreement may be a condition under which the borrower cannot repay the loan ahead of schedule for a certain period of time. Read the contract carefully!
conclusions
The bank does not have the right to demand to repay the loan ahead of schedule if you make payments on time, diligently fulfill your insurance obligations, and comply with all the terms of the contract. And even an economic or financial crisis cannot become a reason for presenting demands against you to pay off the debt before the end of the term.
