Mortgage from VTB 24: conditions and interest for today

Rules for early repayment of VTB mortgages

The bank provides the opportunity to fully or partially repay the mortgage without charging a commission .

Any borrower has the right to repay the loan ahead of schedule (in full or in part) regardless of the amount and term of the loan . This right is regulated by the relevant federal law, and VTB is obliged to follow it.

Before deciding to repay the loan early, each borrower is advised to familiarize himself with the basic rules:

1. You should definitely write a corresponding application to the bank before making the payment (otherwise it may not recalculate, and the money will remain “hanging” in the account).
2. Before submitting an application, it is recommended to call the bank and find out the exact (down to the penny) amount of the debt, as well as clarify the sequence of your actions. It would be ideal if the client transfers the payment on the same day in the first half of the day, so that the money can be credited to the account before the end of operating hours.
3. The borrower has the right to either shorten the term of the loan agreement or reduce the amount of the monthly payment. Here it is important to independently calculate which option will be more preferable for a particular borrower.
4. If the debt is not fully repaid, VTB will recalculate the payment schedule and issue the client a new one.
5. The bank will write off funds to pay off the debt exactly on the repayment date according to the schedule. Therefore, it is best to repay the loan on the date of the next payment in an amount exceeding its size. This way you will avoid confusion and will definitely help reduce the amount of debt.

Important!

Early repayment of the loan not only reduces the total overpayment on the loan, but also relieves the apartment of collateral encumbrance! Therefore, if any opportunity arises to do this, you should not miss it.

Many banks have a moratorium on the timing of early loan repayments - for example, no earlier than one or three months from the date of conclusion of the loan agreement. At VTB, each borrower has the right to carry out this operation even on the first day of the transaction.

Many borrowers make a mistake - they accumulate a large amount of money and only then deposit it into the account. This will reduce the overpayment, but not as significantly as if the borrower had paid a smaller amount earlier. For example, it is better to deposit 50 thousand rubles every six months than to immediately deposit 100 thousand rubles every other year.

Pros and cons of refinancing

Refinancing is a great option for those who want to improve the terms of their existing mortgage with a higher interest rate. The main advantages of this program are as follows:

• reduction in the monthly payment;
• the ability to combine several loans into one;
• reduction in annual rate;
• ability to change currency;
• removal of encumbrances from collateral property.

There are also disadvantages. The main one is the costs associated with re-registration of a mortgage. The borrower will have to pay fees from his own pocket to VTB, as well as other institutions that issue certificates and documents. In addition, it may be difficult to obtain permission to refinance from the bank where the loan was originally taken out.

Sometimes a mortgage is the only chance to become the owner of your own home. VTB has many profitable mortgage programs for various categories of citizens. At the same time, it is always possible to reduce the monthly payment and interest rate on the loan by refinancing or taking advantage of various loopholes. Financial obligations taken must be approached responsibly, payments must be made monthly, according to the established schedule and amount. If you wish, you can pay off your mortgage early and not overpay interest.

If unforeseen circumstances arise and it is not possible to make payments, then you should contact the VTB branch and write an application for an installment plan or deferment. Rehabilitation is carried out in the event of illness of the borrower, death of a family member and in other situations. It is also possible to delay the birth of a child. The debt is transferred, not written off. As the baby grows a little, you will need to make payments as usual.

Welcome! Today we’ll talk about early repayment of a mortgage at VTB 24. The faster you make a full payment on your mortgage, the less interest you will pay for using the loan. Let’s now figure out the conditions under which early repayment of a mortgage at a bank works and how to do it remotely.

Required documents

To repay the loan early, you will need only two documents:

1. passport;
2. loan agreement.

After depositing the required amount, the client will be required to sign the following statements:

• to cancel the relevant agreement with mandatory mention of the repayment amount and date;
• to close the “plastic”.
• to cancel a card account;

Important!

After the borrower has fully repaid all debts to the bank (for the payment of the debt, interest and penalties, if any), he should file an application with the registration chamber to obtain the cancellation of the encumbrance on the property that was pledged to the lender for the period of payment debt.

also worth contacting the insurance company to return the overpaid amount of the insurance premium. This right to the borrower is given by the fact that the loan transaction was terminated before the deadline specified in the agreement.

The borrower must submit documents to the insurance company indicating that he has fully fulfilled his obligations.

How to repay a mortgage early at VTB 24?

There are several options for how to pay off your mortgage early at VTB. You can pay off the debt ahead of schedule - in whole or in part. To do this, you need to follow the sequence of steps below:

1. Write a corresponding request. In a bank branch or remotely in your VTB-Online personal account . You can also use the support phone number, but in this case you will not have documentary evidence of the transaction. Be prepared to provide the operator with the following information: your own data (full name, passport information) and information from the mortgage agreement (date of its conclusion and number), as well as the due date for making the payment.
2. Choose the most convenient option for you to change the terms of the loan agreement: shortening its term or reducing the payment amount. To independently calculate the most profitable method, it is recommended to use a calculator.
3. Make timely credits to your account.

If the client submitted an application at the bank’s office, then he must include the following information:

• deposited amount;
• the date it was credited to the account.

Partial early repayment

The procedure for partial repayment of a mortgage is somewhat more complicated than the algorithm for full repayment of the debt. There are pitfalls here that every borrower needs to know.

The main one is the restriction on the funds contributed towards partial repayment of the loan. The minimum amount that the borrower has the right to repay early is 15 thousand rubles.

To make a partially early deposit of funds into your account , you should use the following algorithm:

1. Come to the branch one day in advance and notify the bank of your decision (you can send a notification remotely). If the client has an overdue debt, he must first pay it off.
2. Transfer funds to repay the loan on the day specified in the payment schedule using one of the available methods. If the funds appear in the account after 7 pm, the borrower’s application for partial repayment of the debt will not be accepted for execution. The bank has the right to apply penalties to a client who has violated the deadlines for making the next payment. Therefore, funds should be paid in a timely manner, or better yet, in advance.
3. Please review the modified schedule. Due to incomplete early repayment of the debt, the remaining amount of the debt changes. Therefore, the bank must draw up a new schedule. The choice of option to reduce the debt burden remains with the client. He is asked to reduce the number of mandatory payments or reduce the payment amount.

We will separately highlight the following nuances of early debt repayment that every borrower needs to take into account:

• if the client was in arrears on the mortgage, then the debt should be repaid ahead of schedule only after it has been repaid;
• the client can deposit funds ahead of schedule not only on the scheduled payment date, but also on any other;
• If the borrower made an early repayment not on the day of the next payment, then he does not get rid of making the amount of the next payment according to the schedule.

Full early repayment

The most balanced solution is for the client to personally visit a bank branch within 24 hours and complete an application for full early repayment of the loan. You should first find out the exact amount required for full repayment.

The difference of even one penny can be critical and the debt will not be repaid. You can find out the necessary information from a bank employee (in person or by phone, having previously confirmed your identity). Another option is remotely through your personal online banking account .

Attention!

The amount reported by the operator is relevant only on the date of its presentation. Therefore, if you repay the loan on another day, the information may no longer be valid.

Early repayment of a mortgage in full does not correspond to the monthly payment date. The borrower has the right to take steps to repay the debt at any time, having previously notified the bank. However, in order to avoid confusion, it is recommended to make the deposit on the day of the next payment.

Be sure to make sure that you receive a document confirming the repayment of the loan and the absence of an encumbrance in this credit institution. In any doubtful situation, this will help you out.

Mortgage products from VTB 24

As in previous years, VTB offers potential clients a wide range of mortgage lending programs. And it must be said that the lender has products for almost every taste and every opportunity of borrowers.

The list of offers valid in 2020 includes the following:

1. Mortgage for the purchase of a new building, including from VTB accredited developers;
2. Mortgage for the purchase of secondary housing, including from VTB partners;
3. Mortgage for participants of the NIS program (military mortgage);
4. A mortgage with state support at a rate of 5% per annum for the entire lending period, within which it is possible to purchase housing in a new building (except for borrowers living in the Far Eastern Federal District) or refinance a previously issued loan. The main condition for program participants is the birth of a second child or subsequent children between 2020 and 2022.
5. Far Eastern mortgage, designed for participants in the “young family” and “Far Eastern hectare” programs, allowing you to purchase housing in the territories of the constituent entities of the Far Eastern Federal District. For this category of borrowers, a preferential rate of only 2% per annum is provided.
6. The “non-targeted loan secured by real estate” and “collateralized real estate” programs, within which you can get a loan for the construction or purchase of your own residential home, including from the list of objects offered by the credit institution.
7. The “More meters - lower rate” program allows you to obtain a loan at a reduced rate, provided that the purchased property exceeds 100 square meters in area.
8. The “Victory over formalities” program is intended for borrowers who are unable to confirm employment and earnings. The loan is issued using only two documents without providing a certificate of income, but subject to making a significant down payment.
9. Refinancing an existing mortgage at VTB allows mortgage borrowers to receive a loan to repay an old loan in the amount of up to 90% of the cost of housing. At the same time, for salary clients of VTB the rate is calculated from 8.3%, for clients of other banks - from 8.5% per annum.

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How to correctly calculate a VTB 24 mortgage, online calculator 2020.