Not all credit institutions in Russia voluntarily comply with the requirements of the law on the borrower’s right to early repayment of debt. As a result, they can charge fines for alleged violation of the contract. Lawyer Alexey Gavrishev told about this.
However, banks have no right to refuse a client’s intention to repay the debt ahead of schedule. And if bank employees refuse to accept the application or prevent it in some other way, then the client should be asked to substantiate the actions in writing, noted another lawyer Yegor Redin.
If the bank did not act according to the law, then the fine can be challenged in accordance with Article 809 of the Civil Code of the Russian Federation. However, this does not always help. In this case, it is already possible to solve the problem through the courts.
As soon as the bank debt is repaid, it is necessary to obtain a document confirming this. It can be a notice or an official letter on the letterhead of a credit institution. There must be a signature of the responsible officer and a seal, reports “Prime”.
Since 2011, Russian banks are required by law to provide borrowers with the right to early repay loans without additional payments or commissions. If the clause on early repayment of the debt is absent in the agreement, then the borrower to the client inform the bank of his intention to repay the loan early 30 days in advance.