Calculate payments by credit card of the Savings Bank. How interest is calculated on a Sberbank credit card. Credit card interest rates
The Sberbank credit card issued to the citizens of the Russian Federation for 50 days has a grace period, the terms of which are 30 days of the reporting and 20 payment periods, respectively. Let's consider their basic principles and rules of use.
First of all, a credit card is very convenient, if necessary, money is always at hand, there is no need to borrow or postpone the purchase of necessary goods. And if you use it wisely, then it is beneficial: the grace period allows you to manage borrowed funds on a Sberbank credit card completely free of charge for a certain period of time.
The bank prepares loan offers to the participants of the salary project in advance and issues pre-issued credit cards as part of outreach events.
Also, in any branch, you can fill out an application for the issue of a personalized credit card and receive it within 8 days. If funds are needed urgently, instant credit cards with a limited range of services are issued on the day of contact.
The available credit limit is individual in each case, the financial institution sets it based on the client's monthly income. For users who pay debts on time, the limit may be increased.
The grace period for a Sberbank credit card is 50 days, within this period, the use of funds is carried out without interest.
IMPORTANT! Interest-free use of the bank's money is possible only for non-cash payments. When withdrawing cash, a commission is charged and interest is charged on the loan.
The rules for using credit cards state that if you do not fit into the grace period for a period of 50 days or the grace period, as it is also called, interest is charged on the borrowed funds. Further, the principle of operation is similar to a conventional loan, a schedule of payments is drawn up to repay the debt in equal amounts.
Advantages
The advantages of Sberbank credit cards are as follows:
- automatically revolving credit limit up to 600 thousand rubles;
- free connection to the "Mobile Bank" service;
- SMS notification about all operations performed on the card;
- special technology for protecting purchases, including in online stores;
- grace period for 50 days;
- receiving one passport in 2 hours (available only for salary clients);
- the opportunity to participate in the "THANKS" bonus program;
- free annual service;
- availability of special offers for citizens from 18 years old;
- interest rates from 21.9% to 33.9%.
IMPORTANT! Interest rates depend on the type of card, in most credit cards they are fixed.
disadvantages
Like any financial product, a credit card from Sberbank with a grace period of 50 days has its own pitfalls:
- If you do not receive your salary on your Sberbank card, you will need a copy of your work record book and documents confirming income to issue a credit card.
- It is not profitable to withdraw cash, the commission is 3% of the requested amount and cannot be less than 390 rubles.
- Many users do not understand how the grace period is calculated and how a fee is charged for using borrowed funds.
How to calculate the interest-free period
The grace period is 50 days and conditionally consists of two stages:
- reporting period, which is 30 days;
- payment period, which is 20 days.
IMPORTANT! The starting date of the reporting period starts from the date of receipt of the credit card at the bank and its activation. The payment period is the next 20 days after the end of the reporting period.
If the credit card payment is made on the first day of the reporting period, you can use the funds free of interest for 50 days, if on the last day, then 20 days. The expenses incurred on the first day of the billing period will be reflected in the report of the next month.
An example of calculating a grace period. Sberbank credit card and envelope with PIN were received on March 9th. The reporting period runs until April 8th. From 8 to 27 April - billing period. Thus, the grace period is from March 9 to April 27.
A payment made on March 9 can be repaid within 50 days without additional costs, on March 29 - within 30 days, and, for example,
April 5 - for 23 days.
IMPORTANT! There is a calculator on the website of the Savings Bank of Russia, where you can calculate the dates of debt repayment online.
After the report is generated, the bank sends out SMS notifications about the total amount of debt, the minimum repayment amount and the date of payment.
By paying off the entire specified amount, you will avoid paying interest. If it is not possible to pay, it is enough to make the minimum payment before the specified deadline, in which case fines and penalties will not be imposed. But interest will be charged on the remaining funds.
IMPORTANT! The balance of the debt can be viewed using the Sberbank Online service, or by sending an SMS message to number 900 with the word “DEBT”.
Even if the amount owed is not fully repaid, you can continue to pay by card, while the grace period will operate according to the calculation, and payments will be included in the next report.
Interest begins to accrue from the date following the end date of the preferential use. In case of partial repayment, the fee for the use of the bank's funds is charged on the actual remaining amount.
You can repay a credit card in the following ways:
- deposit money through self-service devices similar to plastic debit;
- transfer by bank transfer from your accounts using the Sberbank Online service or the Mobile Bank service.
Types of credit cards
There are several types of credit cards with a grace period offered by Sberbank, which customers choose themselves:
- gold cards;
- Gift of Life and Aeroflot cards;
- classic cards;
- premium cards;
- youth and instant cards.
Gold cards MasterCard and Visa Gold
For most debit payroll card users, the Savings Bank issues Visa Gold cards with free annual service. The maximum amount of issue is 600,000 rubles, the user fee is fixed - 25.9% per annum. Age restrictions: 21-65 years old.
Visa Gold plastic is issued for three years, and the conditions in force at the time of the agreement do not change. One of the disadvantages of this type is that you cannot have several cards on a single account.
The advantages consist of the convenience of cash and non-cash replenishment, the implementation of transactions through remote services, and unhindered use throughout the world within the payment system.
IMPORTANT! Gold cards MasterCard and Visa Gold are offered by the bank individually to each user.
"Give Life" Visa Gold and Aeroflot Visa Gold cards
"Give Life" Visa Gold was created in cooperation with the charitable foundation of the same name to help children with serious illnesses. Aid is transferred to charity in the form of 50% of the bank's income from plastic handling and 0.3% of the total funds of card transactions.
Aeroflot Visa Gold allows you to accumulate miles and exchange them for tickets and airline bonuses.
Youth cards and instant issue
Visa and MasterCard Momentum are not personalized, they are issued instantly, within half an hour after the registration of the application. The maximum amount of issue is 120,000 rubles, the user fee is 25.9%. One of the drawbacks is problems with use abroad.
IMPORTANT! Free annual service is possible if the bank has issued an individual offer and approved the limit in advance.
Youth credit cards are issued with a limit of 200,000 rubles, a monthly service fee of 62.5 rubles and a use fee of 33.9%.
Own funds on a credit card
If the amount of funds on the credit card exceeds the limit, the difference is the client's own funds. When spent, they are written off first. No interest is accrued on use.
IMPORTANT! When withdrawing cash, commission and interest are charged even on your own funds.
Credit cards have long been the most demanded banking product among customers. It is mainly used to pay for goods and services, because it is not profitable to withdraw cash on it, and some keep it as a spare wallet so as not to borrow money until paycheck. But in any case, the borrowed funds are subject to return, and then we will consider how to calculate a payment on a Sberbank credit card, the amount of debt and the amount of interest.
How to pay by card during the grace period
Banks provide their users with a unique chance to use borrowed money and not pay interest on the loan. For each credit card from Sberbank, the grace period is 50 days, that is, this is exactly the period when interest on the amount spent is not charged. Unfortunately, not all cardholders yet fully understand how to use this opportunity.
The grace period, as already mentioned, is 50 days, it begins to operate after receiving a credit card. During the first 30 days, you can pay for purchases with a credit card, but not withdraw cash, because the grace period is not valid for this operation. In the next 20 days, you must repay the debt in full, then you will not be charged interest.
Please note, before paying the loan, be sure to specify the exact amount of the debt, otherwise the interest will be credited to the balance of the debt.
What is the minimum or mandatory payment
Now let's look at what a mandatory payment on a Sberbank credit card is - this is the minimum amount that must be paid on time. In Sberbank, the minimum credit card payment is 5% of the amount spent. For example, if 10,000 rubles were spent, then the minimum payment is 500 rubles plus interest.
Grace period for a Sberbank card. How to calculate?
But, please note that this is only the minimum amount to be returned, interest is also added to it, the borrower can pay more, this difference will go to pay the principal debt, which in the future will save on interest. The client does not need to worry, because he only needs to call the hotline, go to his personal account on the Sberbank website, or go to any bank branch to find out what is the minimum payment on a Sberbank credit card and when to pay.
How to calculate the minimum payment
- card limit - 100,000 rubles;
- interest rate - 36% per year;
- the amount spent - 20,000 rubles;
We calculate the minimum payment:
- 20,000 × 0.05 (5%) = 1,000 rubles - this is the amount of the principal debt;
- 20,000 × (0.36 ÷ 12 (months)) = 600 rubles - this is the interest on the loan (the rate is indicated per year, respectively, it is divided by 12 to get interest for one month).
In total, the minimum monthly payment is 1600 rubles.
Information on the date and amount of the minimum payment in the personal account on the Sberbank Online website
This calculation clearly shows that it is extremely unprofitable to pay off your credit card debt in monthly payments. Though with the next month, interest will be calculated on the balance of the debt, that is, for 19 thousand rubles.
So, it is beneficial to use a credit card when it is possible to return the funds spent on time, although in practice there are only a few such borrowers. Basically, users pay only the amount that the bank indicates in the notification, and the debt repayment itself is delayed for a long time.
Not everyone thinks about how interest is calculated on a Sberbank credit card. Someone rarely resorts to a loan, others make a calculation without any questions, and still others simply control the number of days of the grace period in order to avoid the accrual of penalties. At the same time, the accrual procedure itself may seem complicated for many inhabitants - the calculations are influenced by the availability of days of free use, the interest rate on the "credit card" and other features of its use.
Rates and conditions for using credit cards of Sberbank
The bank offers different conditions for different users. Interest on the card will be different not only depending on the borrower himself, but also on the chosen tariff. Almost all cards have a grace (grace) period, and for some "credit cards" you need to pay for an annual service.
| Name | Bid | Grace period | Service | Limit | Options and bonuses |
| MasterCard Bonus | from 23.9% | up to 50 days | 0 p. - first year for everyone, for approved clients all the time | up to 600 thousand rubles | |
| MasterCard or Visa Classic | from 23.9 to 27.9% | up to 50 days | from 0 to 750 rubles | up to 600 thousand rubles | Instant registration, free SMS-informing, bonuses "Thank you" |
| Sberbank Gold | from 23.9 to 27.9% | up to 50 days | from 0 to 3000 rubles | up to 600 tr | 10% for payments in cafes and restaurants, 0.5% for other payments |
| MasterCard Black Premium | from 21.9% | up to 50 days | 4900 rubles | up to 3 million rubles | Increased number of "Thank you" bonuses, 10% when paying for a taxi and at gas stations, 5% - cafes and restaurants, 1.5% when shopping in supermarkets |
| Visa Aeroflot Classic | from 23.9 to 27.9% | up to 50 days | 900 rubles | up to 300 tr | Bonuses "Thank you", 500 miles upon activation, 1 mile for spending 60 rubles / $ 1. |
| Visa Aeroflot Gold | from 23.9 to 27.9% | up to 50 days | 3500 rubles | up to 300 tr | Bonuses "Thank you", 1000 miles upon activation, 1.5 miles for spending 60 rubles / $ 1. |
| Visa Aeroflot Premium | from 21.9% | up to 50 days | 12,000 rubles | from 300 thousand rubles to 3 million | Bonuses "Thank you", 1000 miles upon activation, 2 miles for spending 60 rubles / $ 1. |
| Visa "Give life" | from 23.9 to 27.9% | up to 50 days | from 0 to 900 rubles | up to 600 tr | Bonuses "Thank you", 0.3% on purchases to the "Give Life" fund, 50% of the cost of 1 year of service when paid. |
These are just standard conditions, in most cases everything is considered individually. At the same time, the minimum rates for credit cards are indicated for persons with a pre-approved loan. Often these are salary clients of Sberbank or those who have already issued a loan and paid it off. There are certain requirements for new clients - age from 21, official income, at least one year of experience over the last 5 years with 6 months in the last job.
These requirements are typical not only for obtaining a card from Sberbank, but also for a car loan or mortgage. Moreover, a number of additional conditions are put forward for mortgage borrowers. At the same time, a regular bank loan is more profitable in terms of interest rates, but it does not have a grace period of 50 days or more.
Grace period and its features
If the grace period is used and the debt is fully repaid for a certain number of days, no interest will be charged. In order to correctly calculate the interest on the card, it is worth remembering the nuances of this process. When we are talking about 50 days of grace period, then the countdown date does not mean the fact of the onset of debt. Loan incentives start from the reporting date, not from the day you purchase something using your card.
Conventionally, you can divide the interest-free repayment into 2 stages:
- The reporting stage is 30 days.
- Debt repayment stage - 20 days.
This is where the confusion comes from when trying to calculate percentages. To do this correctly, you need to know the exact start date of the reporting phase. If the card is activated on the 8th, then the reporting stage will start from 9th and last for 30 days, with the exception of February. There are no more than 29 days this month, which automatically shortens the reporting period. After the completion of the stage of generating the report, a grace period of 20 days will begin. These are general rules for preferential lending that apply to all Sberbank cards.
It is important not to forget that for most Sberbank credit cards there is a restriction on the use of the grace period when withdrawing cash. There is also a taboo on online payments for online casino services. In these cases, interest is calculated from the first day of spending.
In order to take full advantage of the possibilities of the grace interval, it is worthwhile to correctly determine the end of the reporting stage. After its expiration, the cardholder has 20 days to pay off the debt without additional commissions. If the reporting stage began at 10, and the purchase was made on 15, then 30 days must be determined not from the date of purchase, but from the 10th. For those who are confused in the calculations or just want to make them easier, there is a special grace period calculator on the Sberbank website.
Service fees and cash withdrawals
When using "credit cards" of any bank, it is worthwhile to specify in advance information on various commissions. Many financial institutions practice withdrawing a certain amount when cashing out funds, and also often oblige to pay an annual service. This can lead to confusion when calculating credit card interest.
It should be remembered that even an unused, but activated credit card obliges the owner to pay for an annual service if available. This can lead to the formation of debt at the moment when the amount indicated for the service is debited from the account.
It is worth paying off this debt in a timely manner or simply canceling the card by contacting a bank branch. Otherwise, penalties are possible. Also, when calculating percentages, errors are likely due to forgotten commissions.
It is about withdrawing cash and using ATMs from third-party banks. Almost all plastic cards imply a certain commission when cashing out funds through an operator or ATM. Its size depends on the terms of the loan agreement, while it concerns only Sberbank ATMs. The use of ATMs of other financial institutions imposes on the withdrawer one more additional commission, i.e. in addition to paying for cash withdrawals, you will need to spend money for the services of a third-party bank.
Refunds and penalties
Debt repayment implies the timely calculation of the parts of the loan and the accrued fines. If it was not possible to pay off the debt during the grace period, then in the next reporting stage it is necessary to make the minimum payment to the card account. Its size is specified in the contract - often it is 5-8% of the amount owed. In this case, the calculation of the exact amount on the loan is based on the amount of funds remaining outstanding during grace days.
Late payment or insufficient payment for the minimum payment may result in a fine. The amount of penalties is also regulated by the clauses of the loan agreement. Those who have been using a credit card of a bank for a long time know that there are 3 types of financial punishment for late payment:
- Specific amount in rubles.
- Increasing the interest rate for the period of delay.
- Combined method with a rate increase and a one-time penalty.
In the event of a delay in debt, it is difficult to independently determine how the increased interest is charged. It is important to know that with the subsequent deposit of funds, the money will first be written off for penalties and fines, then for accrued interest, and only the remainder will go to pay off the main debt. Therefore, in case of late payments, it is better to get advice from the bank in order to prevent a new delay in the next reporting period due to incorrect calculations.
Accrual of interest on Sberbank cards
It is impossible to correctly calculate your own debt if you do not know how interest is calculated on a loan. You can use the information services of Sberbank and find out the total amount of debt, but sometimes you need to make a calculation yourself. Without knowing the interest rate and other nuances of using a credit card, it is impossible to make correct calculations. You also need to know the rules for calculating commissions practiced by the bank itself.
Accrual rules
If it was not possible to fully repay the debt during the grace period, then you should familiarize yourself with the agreement in detail and remember the basic rules for calculating interest on the card. This will minimize unnecessary costs.
There are several of these rules:
- In case of delays, the interest rate may be increased.
- During the grace period, no interest is charged on the loan.
- The basis is the annual rate specified in the loan agreement.
- Fines are accrued daily from the day the debt arises.
- After the end of the grace period, penalties are charged on the balance of the loan.
- Cash transactions and payment for online casino services imply payment of interest from the first day of the loan.
All users of Sberbank credit cards should remember that making a minimum payment is not a profitable way to pay off debt. The write-off of funds for the principal debt will be small, increasing the loan term, which will allow the bank to charge a commission longer.
Independent calculation of interest on debt
The rules for determining the amount of interest require knowing the dates of the reporting interval and purchases, the amount spent, the rate on the plastic card and whether there is a grace period. At first glance, the calculation scheme is simple:
- the interest rate is divided into 365 days;
- the result obtained is multiplied by the number of days in arrears;
- the calculated interest must be multiplied by the loan amount.
Such a calculation will be simple only if the necessary data are known. When using a grace period, it is also necessary to preliminarily determine the day of its end in order to correctly find out the amount of interest accrued on the outstanding amount. In the case of cash withdrawal, when calculating, it is necessary to take into account the commission for withdrawing money - it, among other costs, must be paid before the main debt.
Everything is calculated automatically in the bank, but you can check the amounts yourself. If the data is not all known, then you need to go to your online bank account or personally visit the office to get the necessary information from employees.
Examples of accrued interest with and without a grace period
The amount of overpayments depends on the thoughtful use of the "credit card". Control over the grace period and timely deposit of funds implies an interest-free loan with non-cash payment. For example, it is worth considering non-cash purchases and withdrawals.
The date of the credit card report generation is the 1st day of the month. The beginning of the reporting interval starts from the 2nd. This will allow you to pay the debt without interest by the 20th day of the next month. If you spend 7 thousand on March 5, and 12 more 4, then the total amount of debt will be 11 thousand rubles. In this case, the grace period will not be 50 days, but 47 for the first purchase and 40 for the second. If you deposit 11 thousand on the card by April 20, then interest will not be charged.
Withdrawing cash of any number will immediately lead to the accrual of commissions and will require the following calculations:
- Cash withdrawal - 3%, but at least 190/390 rubles.
- The total amount owed.
- Annual interest divided by 365 and multiplied by the days of debt.
Removal of 10 tons. with a minimum of 190 rubles for cashing out, it will cost 3% from 300 rubles. The rate is 23.9%, and the borrowed funds will be used for 20 days. To fully repay the debt, you will need to pay 10,430.95 - of which 300 rubles. for withdrawing money, 10,000 p. principal and 130.95 p. interest for use.
Credit cards are a profitable tool with a competent approach. They are convenient as a constant financial assistant at hand. If you use this monetary instrument correctly, then the interest will be either minimal, or the loan will cost you no interest at all.
Banking organizations are actively offering to issue credit cards. Companies are developing various bonuses for customers in the form of discounts, cashback, grace period, miles accrual and much more. This is due to the fact that credit cards have a revolving credit limit, and when the plastic expires, a new card comes automatically.
Thus, the bank gets a long-term relationship with the borrower. But in this article we will tell you how to use the card and not pay interest, consider the intricacies of the grace period and the formation of a mandatory payment, and for example, take the product of Sberbank "Credit card Visa Classic and MasterCard Standard".
Conditions on the Sberbank card
To begin with, let's consider the general conditions offered for this card. At the moment, the promotion is valid until December 31, 2017, under the terms of which a free annual service is provided. The standard commission for using the card is 750 rubles. The credit limit does not exceed 600,000 rubles and is formed on an individual basis.
There is a grace period of up to 50 days. Cashback on the card reaches 10%. "Thank you" from Sberbank is one of the best customer reward services operating in Russia. The company also has a highly functional personal account. The product is quite attractive in the credit card market and is in demand among consumers.
Classic credit card
License of the Central Bank of the Russian Federation No. 1481
Limit: RUB 300,000
Rate: 27.9%
Grace period: 50 days
Cashback: 0.5%
An example of a job description and calculation
To make it easier to navigate in banking terminology, we will consider a specific example for making calculations. So, the credit card is activated on September 1st. This means that from this moment begins settlement period... This is the period when all cash flows on the card are taken into account, including transactions for payment and receipt of funds. The billing period is valid for a month from September 1 to September 30.
From October 1 to October 20 starts billing period... This is the deadline for the client to pay the minimum payment. On November 1, an account statement is generated, which indicates the amount of the total debt on the card, as well as the minimum payment and the term for its payment.
The client's credit limit is 60,000 rubles. In this case, 2 purchases were made:
- September 20 for 20,000 rubles;
- September 25 for 30,000 rubles.
Minimum payment calculation
You must pay interest for using credit funds. The bank includes the interest on the card in the amount of the obligatory payment. They are charged for the actual use of credit money in the billing period. Each banking organization applies a single formula for calculating compound interest:
Pr = SD * PrS * FD / DG
Pr - the amount of accrued interest;
SD - the amount of the principal debt;
PrS - interest rate;
FD is the actual use of money in days;
DG - days of the year.
Let's calculate the interest on the loan agreement for September:
Pr = 20,000 * 0.25 * 5/365 = 68.5 rubles.
20,000 is the amount for which the customer made a purchase on September 20;
0.25 - coefficient equal to the interest rate of 25%;
5 - the actual number of days of using credit funds in the period from September 20 to September 25;
365 days a year.
Pr = 50,000 * 0.25 * 5/365 = 171.2 rubles.
50,000 - arrears after the second purchase made on September 25;
0.25 - interest rate;
5 - the actual number of days in the period from September 25 to September 30;
365 - days a year.
Total = 68.5 + 171.2 = 239.7 rubles.
This is interest that will be included in the mandatory payment, which must be paid by November 20, provided that the funds are not returned in full during the grace period.
In addition to interest, the minimum payment is formed based on the amount of the principal debt at the end of the billing period. The debt to the bank as of September 30 was:
20,000 + 30,000 = 50,000 rubles.
The minimum payment includes 6% of the amount owed:
50,000 * 0.06 = 3,000 rubles.
Thus, the formula for calculating the mandatory payment is:
OB = SD * 6% + Pr
ABOUT - mandatory payment;
SD - the amount of the principal debt at the end of the billing period;
0.06 - coefficient equal to 6% of the principal amount;
Pr - interest on the loan agreement.
This amount will be formed on October 1. The minimum payment must in any case be made between October 1 and October 20. Failure to comply with this condition will lead to the fact that the bank will charge a fine for overdue debt, as well as transfer the information to the credit bureau.
It is worth noting that the mandatory payment may include a service fee, a cash withdrawal fee, fines and penalties. But in our case, such charges are not provided.
After making all purchases, the client has an available balance of 10,000 rubles.
Balance = 60,000 - 50,000 = 10,000 rubles.
60,000 is the credit limit. 50,000 - spending in September.
| Account statement: 01.10.2017 | ||||
|---|---|---|---|---|
| date | Replenishment, p. | Consumption, r. | Available limit, p. | Debt, p. |
| 01.09.2017 | 60 000 | 0 | ||
| 20.09.2017 | 20 000 | 40 000 | 20 000 | |
| 25.09.2017 | 30 000 | 10 000 | 50 000 | |
| 31.09.2017 | 10 000 | 50 000 | ||
| Debt information | ||||
| The amount for the implementation of the grace period until October 20: | 50 000 | |||
| Mandatory payment amount before October 20: | 3 000 |
How to use the grace period?
The second important section is the grace period. The term when you can deposit all the money and not pay interest. The main nuance is that the grace period does not apply to cash withdrawal transactions. If the client withdraws cash through an ATM or cashier, then the interest for the actual use of the money will have to be paid in any case. This applies to our Sberbank credit card. There are credit cards for which a grace period is also valid in case of money withdrawal.
Grace period - a set of billing and billing periods. It reaches 50 days. In this case, the grace period is from September 1 to October 20. The later the purchase is made in the billing period, the shorter the grace period becomes.
To use bank money without interest, you must return the entire amount of the debt at the time of the grace period. If 50,000 rubles are credited to the account before October 20, then you will not have to pay interest.
- 20,000 - the first purchase on September 20.
- 30,000 - purchase on September 25th.
50,000 rubles are credited to the account from September 1 to October 20, no interest is charged on a credit card!
If you do not meet the grace period
Consider the second situation in which a bank client paid the minimum payment, but did not meet the grace period. The conditions remain the same. At the same time, 3,000 were credited to the account on October 10. The credit card situation will be as follows:
50 000 — 3 000 = 47 000
50,000 - debt to the bank after September purchases;
3,000 - payment on the loan on October 10.
The client has money and wants to pay off the entire debt. On October 25, 47,000 rubles are credited to the account. Thus, the credit limit is fully restored, the borrower again has 60,000 rubles available on a credit card.
Remaining debt = 47,000 - 47,000 = 0
47,000 - debt to the bank on October 10 after payment of 3,000 rubles;
47,000 - the amount deposited on October 25.
But since the amount was credited to the account after the end of the grace period, that is, after October 20, November 1 in the account statement, interest for September: 239.7 rubles.
Thus, the principle:
- Purchases were made in September.
- The amount was not returned in full until October 20.
- On November 1, an account statement is generated with interest for September and the amount of debt as of October 31.
- The indicated mandatory payment must be made by November 20.
How to restore the grace period
To renew the grace period, you do not need to write additional applications. This service is automatic and permanent. It is valid for the entire term under the loan agreement. The main requirement is that it is necessary to deposit funds on time. Each new month begins a new grace period from the 1st day of the settlement month to the 20th day of the payment period.
Let's continue with an example. On October 27, a purchase is made for 5,000 rubles. Card balance on October 27:
60,000 - 5,000 = 55,000 rubles.
60,000 - the amount of the restored credit limit;
5,000 - bought on October 27.
55,000 - balance as of October 27th.
55,000 - 239.7 = 54,760.3 rubles.
55,000 - balance on the card as of October 31st.
54 760.3 - balance as of October 31.
We continue the life cycle of the card
On November 1, an account statement with a mandatory payment and a cash flow statement for October is generated:
Total debt amount:
60,000 - 54,760.3 = 5,239.7 p.
60,000 - credit limit.
54 760.3 - balance as of November 1.
5,239.7 is the total debt as of November 1.
OB = 5 239.7 * 0.06 + 239.7 = 554.1 p.
5,239.7 - total debt as of November 1.
0.06 - coefficient.
239.7 - interest for September.
| Account statement: 01.11.2017 | ||||
|---|---|---|---|---|
| date | Replenishment, p. | Consumption, r. | Available limit, p. | Debt, p. |
| 01.10.2017 | 10 000 | 50 000 | ||
| 10.10.2017 | 3 000 | 13 000 | 47 000 | |
| 25.10.2017 | 47 000 | 60 000 | 0 | |
| 27.10.2017 | 5 000 | 55 000 | 5 000 | |
| 31.10.2017 | 239,7 | 54 760,3 | 5 239,7 | |
| 31.10.2017 | 54 760,3 | 5 239,7 | ||
| Debt information | ||||
| The amount for the implementation of the grace period until November 20: | 5 239,7 | |||
| 554,1 |
On November 10, the card account receives the amount of 1,000 rubles, which is sufficient to pay off the minimum payment, but less than the principal amount. At this stage, the debt balance will be:
5,239.7 - 1,000 = 4,239.7 p.
The replenishment of the entire amount did not occur before November 20, respectively, on December 1, an account statement will be generated:
PR = 5,000 * 0.25 * 4/365 = 13.7 rubles.
5,000 - bought on October 27.
0.25 - tariff rate coefficient;
4 - days from 27 to 31 October.
13.7 - percent for October.
On November 30, 2017, interest for October will be debited from the account, since the amount of debt was not returned until November 20. Balance status as of 30.11.2017:
4,239.7 + 13.7 = 4,253.4 p.
4,239.7 - debt before interest write-off.
13.7 - percent for October.
4,253.4 - total debt as of 30.11.2017
OB = 4 239.7 * 0.06 + 13.7 = 268.1 p.
| Account statement: 01.12.2017 | ||||
|---|---|---|---|---|
| date | Replenishment, p. | Consumption, r. | Available limit, p. | Debt, p. |
| 01.11.2017 | 54 760,3 | 5 239,7 | ||
| 10.11.2017 | 1 000 | 55 760,3 | 4 239,7 | |
| 30.11.2017 | 13,7 | 55 746,6 | 4 253,4 | |
| 30.11.2017 | 55 746,6 | 4 253,4 | ||
| Debt information | ||||
| The amount for the implementation of the grace period until December 20: | 4 253,4 | |||
| Mandatory payment amount before November 20: | 268,1 |
Thus, by making an amount that exceeds the mandatory payment, the borrower reduces the debt, which leads to a decrease in the minimum payment. After all, the minimum payment on December 20 will be formed from the debt on November 30.
In any case, the client can check transactions and accruals of interest in the personal account. In a banking company, the calculation of interest and payments takes place in an automated mode, errors are virtually excluded. The whole process is carried out by software, which is of course controlled by competent specialists. In order not to have to count the interest on the credit card, you just need to follow the rule - to deposit money during the grace period.
Owners of Sberbank credit cards, especially those who are planning their expenses, will find it useful to know how to calculate the monthly payment. The ability to independently calculate the amount to be paid using a calculator will help not only to correctly distribute your budget, but also to avoid delays in credit card payments, which often lead to additional expenses in the form of penalties and fines issued by the bank.
Calculation of principal and interest
Organization site.
The basis of the monthly payment is the principal debt and the interest rate. The bank sets a certain percentage of the money actually spent, and of the credit limit.
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The size of the principal debt on Sberbank cards ranges from 5 to 10% of the funds spent, depending on the type of credit card. This is the most profitable way of calculating debt for the client, since monthly payments are minimal in the end.
- the amount of funds spent;
- the rate for using the loan;
- the duration of the reporting period.
The reporting period is usually 30 days.
Example
For example, spent in 30 days 58,000 rubles, the credit card rate is 25% per annum. Taking a calculator, the borrower needs to carry out the following mathematical actions:
- First, you should calculate the amount of interest that is charged per day: 58,000 x 25% / 365 = 39.72.
- Then the resulting figure must be multiplied by the number of days of the reporting period: 39.72 x 30 = 1191.78.
So, for using the borrowed money of the bank, you must pay 1191.78 rubles.
Total 2900 + 1192 = 4092 rubles. The borrower must pay this amount if he has spent 58,000 rubles per month.
Additional costs by credit card
However, it is not only the debt and the interest rate that make up the monthly installment. For those who plan their expenses in detail, it is important to take into account additional payments, which include the following costs:
- cash withdrawal fee;
- providing information about the limit at third-party ATMs;
- receiving a statement for the last 10 transactions;
- service of a payment instrument.
Cards for special offers of Sberbank are serviced free of charge, in other cases the client must pay 750 rubles for service. This amount is paid once a year, so if the year of using the credit card has expired, then it should be included in the next installment.
The cost of providing information about the limit in third-party ATMs will be 15 rubles, the same is the cost of an extract about the last 10 transactions. Therefore, if such transactions were carried out during the reporting period, they should be included in the cost of the loan.
Important! An expense that customers often forget to take into account when calculating the next payment is cash withdrawal. At Sberbank ATMs, this commission will be 3% of the transaction amount, but not less than 390 rubles, and at third-party ATMs, 4%.
Example
The calculator can be used to calculate the commission. For example, during the reporting period, the borrower cashed 27,000 rubles at a Sberbank ATM. The commission for cash withdrawal will be 27,000 x 3% = 810 rubles, which will be automatically debited from the card.
In the event that the loan is paid through ATMs, payment terminals and branches of banks that are not partner banks, an additional commission will also be charged for crediting funds. In order to avoid unnecessary expenses, it is recommended to pay debts through your personal account or payment receivers belonging to Sberbank.
If the client independently made the calculation, while taking into account all the expenses, but the amount of the next installment differs from the amount to be paid by the bank, then it is recommended to contact the branch. Employees will help to understand the reasons for the discrepancy and, in the event of an error, will recalculate.
