rajarajaaliali11
KF Rookie
If a take 10 lac loan but can i pay the amount early after 2years and how is the interest be count???
Yes you can do that provided you don't have a pre payment penalty clause in your agreement. The interest will be counted only for the time you had the LoanIf a take 10 lac loan but can i pay the amount early after 2years and how is the interest be count???
Just do these simple thingsIf a take 10 lac loan but can i pay the amount early after 2years and how is the interest be count???
Yes provided no higher amount of penalty due to prepayment. If you're able to save 5-6 lacs by payment of 1 lakh penalty then i must say go for it and also it won't impact your CIBIL scoreIf a take 10 lac loan but can i pay the amount early after 2years and how is the interest be count???
For early payment of loans or pre maturity payment of loans other than construction purpose you have to pay foreclosure charges. After 12 months such charges is approx 3% Plus GST 18% and you will not be liable to pay interest for remaining term. Just apply for foreclosure and pay the amount as calculated.If a take 10 lac loan but can i pay the amount early after 2years and how is the interest be count???
The interest will be calculated till the time you pay emi,you can pay early if the bank allows you.If a take 10 lac loan but can i pay the amount early after 2years and how is the interest be count???