The difference between a loan and a loan.

Credit and financial relations are the engine of the economy, and in the modern world almost all business people are involved in them. If you decide to get money at interest, then you should understand what a loan and a loan are, what is the difference between these concepts. This will help not only to conclude a contract that is inherently correct, but also to protect yourself from various negative consequences.

Definition

Loan - this is a written agreement, according to which the lender transfers money or valuables to the borrower under the obligation to return the funds or material valuables received within a specified period. If the loan amount exceeds the minimum wage of the Russian Federation by 10 or more times, then a written transaction is required. The contract must indicate the amount of funds transferred or the number of items, the return period, and also, in a number of cases, the remuneration for the use of money.

A loan is a written commitment between a lender and a borrower to provide a specified amount of money for a stated purpose. Its attributes are repayment (it is obligatory to pay off the debt by a certain time), urgency (the term is indicated in the contract), payment (interest is provided for the use of funds), warranty (in case of default, the creditor can defend rights in court, claim security).

Comparison

One of the fundamental differences is the legislative regulation of legal relations. So, a loan agreement is stipulated by the civil code, while lending is also subject to banking law. As for the essence of the agreements, it is unchanged: in both the first and second cases, funds are provided on a reimbursable basis. But only a special entity - a banking institution - can act as a creditor, and an individual or legal entity can act as a lender.

It is also worth dwelling on the remuneration for the use of funds. The essence of the lending agreement is to issue money for the sake of money. Most often, the fee for using funds is higher than the refinancing rate. Moreover, its maximum size is also established by law. If we are talking about a loan, then here all relations are at the mercy of the parties to the civil contract. It is worth noting that the bank is an intermediary when concluding an agreement, because it transfers funds previously taken "in growth". The loan agreement is deprived of such mediation, the parties work with each other directly.

Conclusions TheDifference.ru

  1. Subject. The lender can provide the borrower with any property, including cash, the lender - only money.
  2. Compensation. The loan, as a rule, is interest-free, the loan is tied to the refinancing rate and is always higher than its size, unless we are talking about special programs.
  3. Form. When concluding a loan agreement for an amount less than 10 times the minimum wage, the written form is observed at the discretion of the parties. For a loan agreement, its registration is mandatory.
  4. Subjects. Both an individual and a legal entity can act as a borrower, lender and borrower, only banking organizations can act as a lender.
  5. Features of return. For the use of credit funds, a reward is provided (commission, line maintenance fee, etc.), the funds are returned in pre-specified shares. The loan, as a rule, is repaid in a lump sum, unless otherwise provided by the agreement.
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