Compliance with the loan repayment deadlines is an important point for the bank, as a payment made at the wrong time will make it impossible to pay another client who wants to withdraw his money from the deposit. For non-compliance with financial discipline, an unscrupulous client is required to pay the amount of a fine (penalty). Charging penalties for a bank is another way to earn money, since there are no clear boundaries for the amounts.
The interest and penalties include interest accrued at the end of the interest-free lending period when using the card. In Sberbank this percentage is 24%, in the Agricultural Bank – 26%. In the latter, the borrower is required to pay 750 rubles when the loan is overdue. and the amount of interest charged daily in accordance with the terms of the contract. The bank cannot always return the full amount of accrued fines, but the total amount of all liabilities remains to be won.
Banking Cooperation with individuals:
A credit institution earns on commissions not only from individuals, but also from legal entities. Banks are actively promoting insurance products of their own subsidiaries and partners. They transfer part of the pension to a specific fund, for which they also receive a commission. A vivid example is the Russian Agricultural Bank, which obliges its employees to sell life insurance schemes (individual life insurance), which is a product of Alfa Insurance. At the same time receiving a commission of 5%. LIS in this case is positioned as a contribution. Customers are convinced that the funds are insured, since the company can be called reliable and there should not be force majeure situations. The same bank receives funds for cooperation with the Gas Fund. When applying to any bank for a loan, the client receives a service for registration of insurance (or several). In the case of a mortgage, this is justified, but there is no obvious need to take out insurance to get a consumer loan for a short period.
Acquisition of rights of claim
Unscrupulous borrowers from one lender may well be interested in another. A bank may offer another credit institution to purchase overdue debts for 15-20% of the initial cost. The buyer receives the remaining 80% of the debt in the form of income, provided that he can recover them. The original creditor compensates its losses with the help of previously created reserves. In this case, the procedure for transferring claims is legal, and recovery may be carried out by a subsidiary of the bank. For example, the Russian Standard bank and some others have their own “collector”.
Making Money By providing Factoring
Another way to make money is to provide factoring services. Factoring can be called a commodity loan or sale of a buyer’s debt to a third party.In this case, three parties are always involved: the supplier, the buyer and the factor (in our case, the bank). In general, the factoring scheme looks like this:
- The supplier ships the goods to the buyer.
- The supplier transfers invoices to the bank in accordance with the terms of the contract.
- The bank pays 90% of the invoice amount, the remaining 10% – after confirmation of receipt of goods by the buyer.
- The buyer transfers the money to the factor account.
Consider the situation. The Frigate company entered into an agreement with Aventa for the supply of products totaling 670,000 rubles. The goods were delivered to the customer on November 1, payment from the buyer must be received by November 15. The supplier company constantly needs money for turnover, therefore, it concluded an agreement with the FinamBank commercial bank. On November 7, the Bank transferred 80% of the amount (536,000 rubles) to the Fregat account in accordance with the invoices provided. On November 15, Aventa paid off its debt by transferring funds to a commercial bank. Of the remaining 20% (134,000 rubles), the bank withheld a commission for its services in the amount of 10% (67,000 rubles), and the remaining part was transferred to the Fregat account.