Many have heard microfinance organizations. Some not only heard, but also deal with them. The proposals of these organizations look tempting — fast approval, minimum of documents. But the main thing is to carefully study the terms of the contract. After all, what is the basic principle of operation of such organizations? Getting benefits. Accordingly, therefore, interest they provide not as in banks.
Answer the question why people do not apply to banks, and these offices are easy — you can get money without leaving home. No need to provide certificates confirming your income. Often, there is an inattentive study of the contract, as a result, in the end there are big debts.
Why this happens, and which maximum overpayment may be by law in microfinance institutions — our article about it.
With the appearance of MFIs, they are not regulated by law. With the creation of a law on the regulation of the activities of these organizations, MFIs were divided into two types — microcredit organizations, and microfinance.
Often, microfinance organizations issued money for the highest percentage. Thanks to these laws, the amount of interest rates decreased to 1.5 — 1% per day, which helps to reduce the financial load of borrowers.
Suppose you took 5 thousand rubles in a microfinance organization for 7 days. If you do not consider the organizations in which there is a grace period for repayment, we will calculate the amount (approximate) that you need to give. If you do not plan to allow overdue payments, then you will have 5350 rubles to pay. At first glance, it seems not so much, especially if the money is needed urgently. However, the question arises …
After all, they must have a profit. Their profit is just the same and lies in the interest rate. After all, if you take 15 thousand rubles for 15 days, then you need to give 17250 thousand rubles. But this, taking into account the issues of the laws. During the year, the amount of overpayment would increase to 54,750 thousand rubles, given the fact that the calculation was 15,000 rubles. There are no such high interest rates in any bank.
Currently, thanks to the released laws, a more fixed rate appeared. The maximum amount that you may require payment can exceed the amount only 3 times.
Usually, if money is urgently needed, and the possibilities are limited, people agree to any conditions, just to get money. Often, contracts are read by casual. But when the time is fits the return of money, interesting facts pop up. And it turns out that the amount of interest exceeds the amount several times.
By law, you have the right to write a statement in law enforcement agencies, and indicate your situation there. The credit organization will be punished, and the amount of percent is reduced. Also, in microfinance organizations there are penalties and penalties.
Currently, if the amount of overpayments reaches 30%, the lender is obliged to terminate interest and penny accrual. Even, the treaties have a ban on an increase in the period of payment, or the loan amounts.
Before signing the contract, we advise you to carefully study all the conditions and not fall into unpleasant situations. We hope that our article was useful to you.