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UCS Calculation ​

Uniform Credit Score (UCS) — these are the borrower's payments under the credit agreement, the amounts and payment terms of which are known at the time of its conclusion, including payments in favor of third parties specified in the agreement, if the borrower's obligation for such payments arises from the terms of the agreement. The uniform credit score is calculated in annual percentage. The UCS rate is calculated when the loan is issued and does not change for the entire loan term.

The definition and calculation of UCS are regulated by Article 6 of Federal Law "On Consumer Credit (Loan)" dated December 21, 2013 N 353-FZ.

Payments Included in UCS Calculation ​

The following borrower payments are included in the UCS calculation:

  1. For repayment of the principal debt under the agreement.
  2. For payment of interest under the agreement.
  3. Borrower's payments in favor of the creditor, if the borrower's obligation for such payments follows from the terms of the agreement and/or if the issuance of the credit is contingent upon making such payments (for example, commission (fee) for application review or credit issuance).
  4. Fee for issuance and maintenance of an electronic means of payment when concluding and executing the agreement (for example, issuance of a payment card, fee for opening a settlement account).
  5. Payments in favor of third parties, if the borrower's obligation to make such payments follows from the terms of the agreement, in which such third parties are specified, and/or if the issuance of credit (loan) is contingent upon concluding an agreement with a third party. If the terms of the consumer credit (loan) agreement specify a third party, the tariffs applied by that party are used to calculate the UCS. If, when calculating the UCS, payments in favor of third parties cannot be unambiguously determined for the entire loan term, payments in favor of third parties for the entire loan term are included in the UCS calculation based on tariffs determined as of the UCS calculation date (for example, notaries, appraisers, insurers, etc.).
  6. The insurance premium amount under an insurance contract if the beneficiary under such contract is not the borrower or a person recognized as their close relative.
  7. The insurance premium amount under a voluntary insurance contract if, depending on the borrower's conclusion of a voluntary insurance agreement, the creditor offers different terms of the consumer credit (loan) agreement, including regarding the term of consumer credit (loan) repayment and/or UCS in terms of interest rate and other payments.

Payments Not Included in UCS Calculation ​

The following are not included in the UCS calculation:

  1. Borrower's payments, the obligation to make which follows not from the terms of the agreement, but from the requirements of federal law (for example, OSAGO).
  2. Payments related to non-fulfillment or improper fulfillment of the agreement terms by the borrower (for example, penalties, fines).
  3. Borrower's payments for credit servicing, which are provided for in the agreement and the amount and/or payment terms of which depend on the borrower's decision and/or their behavior option:
    • Penalty for early loan repayment.
    • Commission for cash withdrawal at an ATM.
    • Fee for providing information about the debt amount via SMS or email.
    • Commission for transactions in a currency other than the one in which the credit was issued.
    • Commission charged by the bank for crediting funds received from another credit institution.
    • Payment for the ability to suspend banking operations (card blocking).
  4. Borrower's payments in favor of insurance organizations when insuring the collateral under a pledge agreement securing claims against the borrower under the consumer credit agreement.
  5. Borrower's payments for services, the provision of which does not determine the possibility of obtaining credit and does not affect the UCS amount in terms of interest rate and other payments, provided that the borrower is given an additional benefit compared to the provision of such services on public offer terms, and the borrower has the right to refuse the service within fourteen calendar days with a refund of a portion of the payment proportional to the cost of the portion of the service provided before notification of refusal.

UCS Calculation Formula ​

The uniform credit score of a consumer credit (loan) is determined in annual percentage using the formula:

where:

  • UCS — uniform credit score in annual percentage with accuracy to the third decimal place;
  • NBP — number of base periods in a calendar year. The length of a calendar year is taken as 365 days. With a standard payment schedule with monthly annuity payments, NBP = 12. For quarterly payments, this indicator is 4. For annual payments — 1.
  • i — base period interest rate expressed in decimal form.

The base period interest rate is determined as the smallest positive solution of the equation:

  • DPk — the amount of the k-th cash flow under the loan agreement.
  • qk — the number of complete base periods from the moment of credit issuance to the date of the k-th cash flow (payment);
  • ek — the term expressed in fractions of the base period from the completion of the Qk-th base period to the date of the k-th cash flow;
  • m — the number of cash flows (payments);
  • i — the base period interest rate expressed in decimal form.

To calculate the UCS, you need to use the formula above, but to simplify the calculation process itself, you can use MS Excel functionality. You can download a calculation example here.

UCS Calculation in Brainysoft Software ​

Constant Configuration ​

For more accurate UCS calculation, you need to configure a constant. To do this:

  1. Go to the menu item Admin → user constants section.

  1. In the opened list of constants, select "When calculating UCS, round NBP to the nearest lower integer" — it should be set to NO.

Automatic UCS Calculation ​

In Brainysoft software, the UCS is calculated automatically at the time of contract issuance.

UCS Calculation Example ​

Let's consider a contract example: a loan of 10,000 rubles for 15 days with a daily rate of 0.35%:

  1. Go to the contract in view mode.
  2. In the Additional section, there is a field "Uniform Credit Score".

Preliminary UCS Calculation ​

For preliminary calculation of the UCS and payment schedule, Brainysoft software has a credit calculator functionality:

  1. Go to the menu item Applications.
  2. In the upper right corner, click the icon with the calculator image.

  1. Fill in the loan amount (10,000), select the credit product, tranche period (15 days), and tranche term (1).
  2. Click on the text "Calculate dates".
  3. In the "Commissions" section, you can add a commission.
  4. Click the button "Calculate schedule".

In the opened schedule, the UCS is indicated in a frame in the upper right corner. The UCS calculation matches the UCS indicated in the contract. All fields in the schedule are editable. If you make changes, you can recalculate the UCS rate by clicking the button "Recalculate UCS".

Online UCS Calculators ​

Some SRO websites have online calculators that allow you to quickly perform these complex calculations calculator example.

The UCS calculation procedure is also described in a Central Bank presentation, which can be downloaded here. The Central Bank's Excel file for UCS calculation procedure can be found here.