Central Bank of the Russian Federation recommends credit institutions to approve early repayment to customers

Central Bank of Russia

The Central Bank states the fact that the situation is very often occurring when the creditors who have debts and want to pay off it in advance, receive a refusal from banks. At the same time, the client wishes a little less to make money to the account, which is spelled out in the document with the reflection of the amount of complete early repayment.

The regulator does not see any specific reasons for failures and, accordingly, considers the position of creditors absolutely unreasonable.

The Central Bank of the Russian Federation stands to ensure that the representatives of the monetary market gave permission to customers to repay debt in a partial format. Also banks, MFIs and other financial firms must necessarily form

Creditor’s actions with partial debt repayment

Since the loan periodically contributes the amount of money that will be more than a monthly contribution on the repayment schedule, some part of the payment will go to the primary debt, reducing it. This means that the ultimate debt will constantly change, the interest in turn is translated. The creditor should not be informed of the client not later than the established date of the client.

What other recommendations expressed the Central Bank

Central Bank of the Russian Federation advises financial companies to implement