How to calculate it? Early repayment of the loan is also a refund of fees and commissions
Let us not be easily fooled – who took a loan or took a loan has the right to repay all or part of the liability before the deadline. And to return part of the commission and fees.
The Consumer Credit Act for anyone who took a loan or took a loan guarantees the right to repay all or part of the liability before the date specified in the contract.
The same act requires banks or loan companies not only to enable prior repayment, but also to reimburse the proportional part of the charged fees, commissions or insurance costs.
How to calculate the amount of fees and commissions?
As explained by the Office of Competition and Consumer Protection, the amount to be refunded is easy to calculate. It is enough to use the linear method, which involves dividing all costs (except interest), by the number of calendar days in which the contract was to apply.
The result is multiplied by the number of days for which the loan period has been shortened. Such an amount should return to the person who has previously repaid the commitment.
Persons who took a loan or loan after entering into force of the Consumer Credit Act, i.e. after December 18, 2011, may apply for a refund of the unsettled parts of the fees for a loan repaid. The limitation period for claims is 10 years for repayments made before July 9, 2018 and 6 years for repayments made after this date.
What exactly to write in the application for reimbursement of fees and commissions?
In order to recover the funds due, you must submit a complaint/application for reimbursement of the amount of early repayment of the loan and send a document to a financial institution that granted a loan or credit. The application must enter your data, loan number, date of its conclusion and the bank account number that the refund is to receive. It is also worth asking for an answer with an indication of the amount and method of its calculation.
For contracts concluded before December 18, 2022, there are limits of non -interest credit costs from the Consumer Credit Act and depend on the length of the loan period. A maximum of 25 percent can be borrowed amount plus 30 percent for each year of loan, but no more than 100 percent. loan.
UOKiK reminds that after the amendment to the Anti -Lichviar law, non -interest credit costs may not be higher than 45 percent. total loan amount.
