Things To Ponder If You Want to Prepay Your Personal Loan
In this document you will get to know some important points regarding pre-payment of personal loan. Visit: https://www.creditnation.in
In this document you will get to know some important points regarding pre-payment of personal loan. Visit: https://www.creditnation.in
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However, the borrower actually pays the same rate of interest on the principal amount which is<br />
unpaid as calculation of interest is done with the help of reducing balance method. As a result, rather<br />
than loan tenure, borrowers should consider prevailing interest rate on personal loan while prepaying<br />
the loan.<br />
There are several fac<strong>to</strong>rs, like how many EMI’s one has already paid, interest rate, pre-payment<br />
penalty which allows the borrower <strong>to</strong> decide whether they should prepay the loan or continue the<br />
EMI’s. Analyze all these elements before taking the decision.<br />
Reference:<br />
http://u.wn.com/2016/12/22/What_<strong>You</strong>_Need_<strong>to</strong>_Know_if_<strong>You</strong>_<strong>Want</strong>_<strong>to</strong>_<strong>Prepay</strong>_<strong>You</strong>r_<strong>Personal</strong>_Lo_1/
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