Conditions Of Personal Crediting. Life Insurance And Penalties

The personal credit is repaid according to the schedule approved by both parties in which the amount and a payment date are stipulated. The credit can be repaid before the term specified in the agreement three months later after its obtaining, at that penalties are not applied to the borrower.

Banks offer some options of money return. The client may:

• write off the necessary amount on the bank account from the salary card;

• pay a debt for a loan by means of ATMs of financial institution;

• deposit money on credit account via bank terminals;

• do payments by means of Internet banking;

• pay a debt according to the credit agreement in ordinary way: through bank cash desk.

The borrower can make health and life insurance contract at the bank for the validity period personal credit according to the special insurance program. If such case takes place the company which issues the insurance policy will be obliged to repay bank liabilities of the client. At that, interests on loan, sales charges and penalties are taken into account. Service price is less than a quarter of percent per month. The insurance policy is arranged by any insurance company or by representation at the bank.

If the borrower on some reason has not paid monthly fee on the credit in time there is a debt resulted from this failure to pay. In this case the bank starts charging daily penalty on the credit in the amount of one percent.

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