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Early settlement rebate
I took out a loan with my bank just over 4 months ago and made payments on time every month etc.
I got an early settlement figure from my bank stating that if I repaid the £2794.58 owing I would get a loan rebate of just over £1000 does this in term mean I would get that money back.?
Regardless I have paid off the final figure it would just be nice to know what the rebate is and if I get that money back for making early repayment in full.
I got an early settlement figure from my bank stating that if I repaid the £2794.58 owing I would get a loan rebate of just over £1000 does this in term mean I would get that money back.?
Regardless I have paid off the final figure it would just be nice to know what the rebate is and if I get that money back for making early repayment in full.
0
Comments
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The settlement figure would already reflect any saving in interest.0
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the £1,000 is the saving you make by paying it off now v's continuing to make payments until the end of the loan term0
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The rebate is what you would have paid in interest had the loan run to its full length.
You won't get a £1k cheque in your hot little hands."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0
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