Pay off credit and principal monthly? How far is it true

As confusion over the amortization of credit loans continues, the financial authorities are considering a plan to repay only the excess amount of large credit loans beyond their repayment capacity. If the repayment ability standard is determined as annual salary, only the excess annual salary is amortized.

According to the financial sector on the 25th, the Financial Services Commission recently issued a policy of “mandatory repayment of principal installments on credit loans” to prevent mortality (loan by bringing the soul together) and debt investment (investment by debt), but problems such as concerns about delinquency due to the increased burden of repayment Was raised.

In the case of existing credit loans, there were many cases where only interest was paid and the principal was paid back at the maturity date. However, if the principal installment repayment becomes mandatory, in the case of large credit loans, the principal must be repaid in installments. Accordingly, if you borrow 200 million won for 5 years with a 3% annual credit loan, you can pay 500,000 won of interest every month until now, and pay 200 million won after 5 years, but from now on, you will have to pay 3.6 million won each month.

There are concerns that the burden will increase for the common people, self-employed, and small business owners whose cash flow is not fixed.

In addition, there was a story that the standard for large credit loans was set at 100 million won, and borrowers’ repayment ability was ignored. For a borrower with an annual salary of 50 million won, a 100 million won credit loan may be out of the repayment capability, but for a borrower with an annual salary of 100 million won, it may be within the repayment capability.

Accordingly, the Financial Services Commission turned to apply the standard of large credit loans differentially according to the repayment ability of borrowers.

Although detailed standards have not yet been established, it is known that the method of linking the standard of annual income and large credit loans, but applying only the portion of the principal installment payment that exceeds the standard of large credit loans is known to be prominent.

For example, if the standard of a large credit loan is 70 million won, if you borrow 100 million won at 3% per year for 5 years, you pay only interest for 70 million won, and pay back the excess of 30 million won in installments over five years. In this case, the interest on 70 million won and 175,000 won and the principal and interest of 30 million won are combined to pay off 714,000 won each month.

An official from the Financial Services Commission said, “It is necessary to reduce excessive loans by considering the borrower’s repayment capacity and loan period comprehensively, and to repay a certain portion if it is likely to exceed the repayment capacity.” “The plan to consider annual salary, etc., rather than collectively by amount, is being reviewed.”

In addition to the borrower’s income, it is also of interest to what extent the’loan maturity’ is.

Usually, the maturity of a credit loan is renewed on a one-year basis and can be up to 10 years. The Financial Services Commission is reviewing a plan to apply amortized payment to short-term credit loans, but when converting to long-term maturity through extension.

Meanwhile, the Financial Services Commission has decided to switch the method of managing the total debt principal repayment ratio (DSR) for each financial company to the repayment ability test for each borrower, and the obligation to repay the principal in installments of credit loans is under review in the same context. Currently, the average value of each financial company only needs to be managed, so the DSR may exceed 40% for each borrower. From now on, the ‘40% application’ will be applied collectively to all borrowers. DSR is the annual principal and interest repayment of all household loans divided by annual income.

When principal installment repayment is introduced for large credit loans, the repayment of principal and interest increases, and as a result, the individual’s DSR will increase, resulting in a reduction in the limit of other loans such as home mortgage loans.

After hearing the opinions of the banks on related matters, the Financial Services Commission will finalize a detailed proposal in March. Even if it is announced in March, it plans to put a grace period instead of immediately applying the installment payment.

[류영상 매경닷컴 기자 [email protected]]
[ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]