The image of interest seems to be well-known to any entity that thinks about borrowing or borrowing, or the obligation it already has. However, when listening to non-interest costs, we often get into a poke, which is to be understood under this concept.
Not only interest, but what else?
As the name shows personally, the non-interest costs are any fees that will come to our portal in connection with the start-up credits for loan installments, payday loans or credit from the bank, but other than interest. These include commissions, margins, order payments, fees for morality, merger fees from policy, etc. In the case of the loan sector, we have a new definition of the concept. Since 10 June 2015, officially the composition of non-interest expenses includes receivables which the borrower bears the same that he decided to take advantage of the family service.
The anti-usury act and the reduction of non-interest expenses
Along with the abolition of restrictions on the amount of out-of-interest expenses (the loans could not exceed five percent of the loan or loan granted), the financial institutions were given a green light until the collection of receivables different than interest due to the arbitrary level. Lack of a fork, in which the price of a financial liability should close, provides the lenders with a number of ancillary fees imposed on the contractor, and thus – it is hard to raise the cost of the total loans. The amendment of the regulations was similarly water to the mill in order to unreliable trust of companies, which, having to gain from contracts, repeatedly led customers to use a spontaneous burden. From this aspect, non-interest costs have become a particularly important thing in doing so-called. anti-usury law, the intention of which seems to include appropriate non-supervised non-bank loans in applicable regulations.
The costs are not related to statutory limits
The amendment to the Act on the supervision of financial market forecasts a two-stage scope for the purpose of out-of-interest financial outlays. In the first place, the lamps can not be allowed to exceed 25 percent. the basic amount. Secondly, in the size of the primary year, the amount may be in the highest degree 30%. values of loans. In addition, fresh regulations state that the client should not be burdened with costs greater than one hundred percent. the benefits of the commitment. Moreover, if within 120 days the borrower will have several loans (will pay off the selected one and incur another one), the non-interest costs will be counted only on the main liability. Bearing in mind that generally new consumers may apply for relatively low amounts (in Viamobile it is PLN 800, Hillarium – PLN 1000, in MetLoan and Dufin PLN pl – PLN 1,500, in Vivus – PLN 1,600), such a choice should act on the advantage of customers.