What is an overdraft? Sberbank and types of lending

What do we know about the overdraft? This is one of the forms of lending to the population, which is distinguished by its simplicity, convenience in design and use. It can also be said that an overdraft is an excellent option for those who do not want to depend on anyone, even if money is urgently needed at some time. One of the most optimal options for the consumer is an overdraft. Sberbank provides such a service.

Terms of Delivery

The first thing you can immediately see when you are more familiar with the terms is the interest rate. It can not be said that it is very high, but it is alarming that it can change over time, and unilaterally, that is without prior agreement with the client. The borrower is only warned two months before the new conditions come into effect, and he must either accept them, or completely pay off the overdraft. Sberbank also will not work at a loss as inflation, like any other bank, will increase payments, raise rates or introduce additional commissions.

Amount of monthly payments

During registration of an overdraft, you must always pay attention to the amount of the monthly payment. Even if every month to pay a loan, but in an amount insufficient to repay the minimum payment, the loan will be overdue. There will be accrual penalties and the application of penalties. But this is not the worst. If you run an overdraft, Sberbank can fix a bad credit history, which in the future can lead to problems with obtaining a loan.

What will happen if you still do not pay?

If you do not pay overdraft to Sberbank for a long time, fines, penalties and commissions may become larger than the amount of the overdue. And even if the payments are renewed, the loan amount itself will not be repaid until all penalties are paid. There are cases when the client does not repay an overdraft for several months, and then he begins to make minimum payments, and the amount of debt in this case only increases. The client is surprised, he does not understand how such a perhaps. Everything is very simple - for a few months, it ran into such a debt that when the old payment is made the client does not cover it, and the debt grows. In this case, you must first fully pay the penalty, and then already pay the overdraft.

Does Sberbank charge a service fee?

It should not be forgotten that the amount for servicing a loan is annually written off, which can become an unpleasant surprise if the client does not know about it. The annual maintenance will depend on the customer's card on which the overdraft is installed. Each bank has such annual commissions. For someone, it may be more or less. In this case, small commissions can be accompanied by high interest for the use of credit or a small grace period. To avoid misunderstandings, you can calculate the loan in Sberbank, the calculator can be found on the official website.

Before making final conclusions about which bank is the most profitable overdraft, you need to take into account all the nuances. And always carefully read the credit agreement, especially in the part that is written in small letters.