How to make a loan payment

How does the bank debit loan payments?

Most banks debit monthly loan payments from the borrower's card or a separate savings account. Much less frequently, financial institutions require debt repayment using the loan agreement number.

Despite the fact that debt repayment occurs monthly — on the day the agreement was signed, or the next business day if the payment date falls on a weekend or holiday, we recommend making payments a bit earlier. If you deposit money into the account 1-3 days before the debit date, you are guaranteed to avoid technical delays, fines, and penalties.

How to make a loan payment: 9 methods

Since banks most often debit monthly payments from a card, we will explain the ways to top up card and savings accounts. There are quite a few of them. For example, you can transfer money by card number, account details, via the Faster Payments System, at a bank branch, and so on.

Repay a loan by agreement number, for example, via an ATM. To do this, you need to select the appropriate item in the main menu, enter the loan agreement number, and deposit the money. You can also do this via online banking or the mobile app. To do this, go to the "Payments" section and select "Loans", specify the agreement or account number, and enter the payment amount. 

By transfer between own accounts

To transfer money between your own accounts, you need to log in to your online banking or mobile app account, go to the "Payments" section and select "Between own accounts", specify the debit account and the target account, the payment amount, and confirm the transaction.

By transfer from another bank using a card number

To top up an account from another bank, you need to log in to your online banking or mobile app account, go to the "Payments" section and select "Card to card", specify the debit account and the recipient card number, the payment amount, and confirm the transaction.

By transfer from another bank using account details

A transfer using account details is carried out in a similar way. To do this, you need to log in to your online banking or mobile app account, go to the "Payments" section and select "By details", specify the debit account and the recipient details, the payment amount, and confirm the transaction.

By transfer from another bank via the Faster Payments System

A transfer via the Faster Payments System is carried out in the exact same way. To do this, you need to log in to your online banking or mobile app account, go to the "Payments" section and select "By phone number", specify the debit account and the phone number linked to the card, the recipient bank, the payment amount, and confirm the transaction.

By transfer from an electronic wallet

To transfer money from an electronic wallet, you need to log in to your account on the official website or mobile app of the payment system, go to the "Payments and Transfers" section and select "Transfers to card", specify the debit account and card number, the payment amount, and confirm the transaction.

By transfer from a mobile phone account

To transfer money from a mobile phone account, you need to log in to your account on the mobile operator's website or mobile app, go to the "Transfers" section and select "Transfer to card", specify the card number, the payment amount, and confirm the transaction.

In cash via an ATM with a cash-in function

To top up a card via an ATM, you need to find the nearest device. You can do this on the bank's website. Then you need to insert the card into the ATM or tap it if the device supports contactless service, select the "Top up" section in the main menu, deposit the required amount into the cash acceptor, and confirm the transaction.

In cash at a bank branch

To top up a card or account at a bank branch, you need to find the nearest office on the map, visit it during business hours, and take an electronic queue ticket. Then you need to contact the teller, provide the details to make the transfer, and deposit the required amount in cash or non-cash form.

In cash at a Russian Post branch

Card top-up at a Russian Post branch works the same way. To make the transfer, you need to contact the nearest office of the organization, provide the bank card details, and deposit the required amount.

To sum up. There are many ways to make a loan payment. However, you should keep in mind that some transfers can take up to several days, so it is better to take care of this matter in advance — this way you can avoid delays and fines.