Throughout his life, a person at least once asked for help from a bank. I want to buy a car - I take a loan. I want a new refrigerator - I take a loan. And often it turns out that such a person’s desires do not keep pace with his capabilities. There are more and more loans, and less and less money to pay them. And banks are in no hurry to make life easier for people. In order to further bind the client to themselves, they prescribe various penalties in the contracts, penalties for late payments. In order not to be deceived, you need to understand all these concepts. Let’s figure out what is a penalty and a penalty, how is the penalty calculated and what is the refinancing rate.
Definition of refinancing
To begin with, we learn what refinancing is. In plain Russian, it can be said that this is on-lending. A person takes a loan from one bank and cannot repay it on his own. And he turns either to the same bank or to another for a new loan to pay off the old one. Thus, more and more driving themselves into a debt hole.
Refinancing rate
Now we will analyze such a thing as a refinancing rate. This is a certain percentage at which the Central Bank borrows money from ordinary commercial banks, that is, supplies them with money. And those, in turn, supply money to ordinary citizens or legal organizations. As an example, this is as follows: The Central Bank provides a loan to a commercial bank in the amount of 5 million rubles. A year later, the commercial bank must pay the central bank 5 million with interest. This percentage is called the refinancing rate. For the year when a commercial bank took money from the Central Bank, it provides loans to people and various enterprises at a larger percentage. Thus he makes a profit.
The refinancing rate is set based on what the economic situation in the country and at what level is inflation. If inflation is high, therefore, the Central Bank increases the refinancing rate. Since 2012, this rate has been unchanged and today stands at 8.25%.
The difference between the penalty and the penalty
Now we will analyze what the penalty and the penalty are, and how they differ. Forfeit is a payment that must be paid without fail if the terms of the contract were not properly executed. The penalty can be 4 types:
- Credit penalty. The customer has concluded an agreement to perform certain works. The contractor performed the work poorly, and the customer remakes it on his own. The contractor will pay a penalty for his poor quality work. This amount is the sum of the money that the customer spent on remodeling the work plus the amount of damages.
- Penalty - penalty for gross violation of the terms of the contract.
- Exceptional forfeit. With such a penalty, the penalty itself is paid.
- Alternative penalty. The contractor can choose to reimburse either forfeit or loss.
Penalty - a separate type of penalty, which is charged as a percentage of the total amount of the contract for each delayed day. Calculation of late fees should be carried out. This type of penalty is of two types: legal and contractual.
Negotiable interest
The size of the contractual penalty is specified in the contract and is determined by the two parties. Such interest may be a certain amount or in the form of interest, which is accrued for each overdue day. Calculation of interest under the contract is made according to the formula:
P = D x P x C / 100, where
P is the percentage of interest;
D is the amount of debt;
C is the number of days past due.
Example: The company must pay the debt in the amount of 10 thousand rubles by 30 April 2016. In fact, payment occurred on May 20, 2016 in the amount of 5 thousand rubles. The remaining amount was paid after 5 days, that is, May 25, 2016, another 5 thousand rubles. The contract states that the amount of interest is 0.1% of each overdue day. According to the formula, we calculate the size of the legal penalty:
- 10000 x 0.1 x 21 days / 100 = 210 rubles;
- 5000 x 0.1 x 5 days / 100 = 25 rubles.
Total amount of interest is 235 rubles.
Legal interest is applied when the conditions for the payment of interest are not specified in the contract. Terms of calculation and the amount determined by article No. 395 of the Civil Code.
How to calculate penalties?
The calculation of a penalty is required when an individual or legal entity has not paid a certain amount on time, but the conditions for payment of a penalty are not specified in the contract. The law established that fines must be paid in any case, but according to certain rules. For each delayed day, a certain percentage of the contract amount is required to be paid. This percentage is equal to the Central Bank rate, that is, the refinancing rate. The calculation of interest at the refinancing rate is calculated by the formula:
P = D x i x C / 360, where
P - penalty;
D is the amount of debt;
i is the Central Bank rate;
C is the number of days past due.
Let's take a closer look at an example: An agreement was concluded between an individual and an organization. The goods were brought to the customer on December 15, 2014. He must pay for the goods on December 18, 2014. The amount is 50 thousand rubles. The goods are not paid on time and interest begins to accumulate from December 19, 2014. The customer pays for it a month later, that is, January 18, 2015. The number of days of delay is 30 days. Thus, we substitute all the data in the formula and get:
50,000 x 30 x 8.25% / 360 = 343.75 rubles.
In what other situations is the penalty calculated?
The calculation of interest at interest rates is also used with a reduced penalty. Such a reduction is formed if the damage from unfulfilled obligations does not correspond to the size of the amount of the penalty. The reduction of the penalty may occur by agreement of the parties, but in frequent cases, the penalty is reduced by the court, referring to article No. 333 of the Civil Code. In order for the reduction to take place, it is necessary to apply for a decrease in its size due to non-compliance of the damage from violations with the size of fines.
The court will consider this application and reduce the amount of the penalty to a double refinancing rate. To do this, make the above calculation and multiply it by two.
How to calculate tax penalties
Fines are also accrued when companies or individuals do not pay taxes on time. Do not confuse penalties with other sanctions provided for in the tax code of the Russian Federation. The interest is calculated based on tax arrears. The percentage of interest on the debt is determined as 1 to 300 of the Central Bank rate.
The formula for calculating tax penalties:
P = Dn x i / 100/300 x C, where
Дн - the amount of tax arrears;
i is the Central Bank rate;
C - the number of days of non-payment of debt.
Let us examine an example of how to calculate tax penalties. The organization did not pay land tax in the amount of 7 thousand rubles until February 16, 2015. The organization repaid the entire amount of debt on March 17, 2015. The refinancing rate for today's number is 8.25%. The calculation is as follows:
7000 x 8.25% / 100/300 x 29 days = 56 rubles.
If the refinancing rate has changed during the calculation of interest, the default interest should be calculated for the duration of the rate.
Conclusion
Based on the foregoing, one conclusion should be made: try not to get into debt by all means. If, nevertheless, the debt has formed, then it should be paid on time, in order to avoid further problems with creditors. In order not to be deceived, you need to know how to correctly calculate the penalty, in what time it is charged and how to avoid the situation when payments come with significantly increased amounts of debt.
