When a person takes a loan, heCases offer two options for payment - annuity and differentiated. They differ from each other in the principle of repayment of principal and interest payments.
It is important to understand that each of these options can be beneficial under certain conditions.
Pay attention to the difference in the structure of payments. A differentiated loan assumes the division of the entire principal debt into the same number of parts and the accrual of interest on the balance of the amount. In this case, the amount of payments is recalculated every month and gradually decreases, as the interest payment becomes less and less. When choosing an annuity loan, on the contrary, a person pays the same amount each time, i.e. The bank calculates the main monthly payment and does not reduce it until the debt is repaid.
Take into account the difference in calculating interestFor a loan. With a differentiated payment, a percentage of the principal debt is charged, and as the amount of the remaining payments decreases, the interest payment amount also decreases. An annuity payment assumes a completely different calculation scheme. First, a person pays almost only interest only, paying off the minimum part of the debt. Over time, interest payments are reduced, and the main debt - grow, and this happens evenly. The amount of payment remains the same. For example, in the first month a person can pay 5000 rubles. On interest and 1000 r. From the main debt, and in the second - 4000 rubles. On interest and 2000 rubles. Of the main debt.
Estimate the amount of monthly payment. With a differentiated loan, by the time of repayment, the debtor pays a relatively small amount, but at the very beginning the monthly payment is higher than with an annuity loan. This feature is important to consider for two reasons. First, if you can not allocate a sufficiently large amount to pay for the loan, the annuity payment will be more profitable for you. Secondly, when choosing a differentiated loan, the total amount that the bank is willing to give will be lower than if the preference is given to the annuity. This is due to the fact that representatives of the bank take into account the maximum monthly payment amount when determining the amount that can be given to the client.