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Provident early settlement
Hi Guys
Im sure this has probably been covered in the past. I have a loan with Provident and as you can imagine the interest rate is astronomical. In the past i have settled early and saves interest but i have since been told this has changed. Can i still settle early so if I pay more each week will I save interest?
Im sure this has probably been covered in the past. I have a loan with Provident and as you can imagine the interest rate is astronomical. In the past i have settled early and saves interest but i have since been told this has changed. Can i still settle early so if I pay more each week will I save interest?
0
Comments
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If you settle early, you will pay less interest.0
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Thanks for your reply
so if I owe 500 on a 24 month contract (including interest) and i pay 300 how do they calculate how much is owed? do i have to pay it one chunk? Im thinking of doubling my weekly payment to then get a settlement or is that a waste of time?0 -
Interest is charged on a daily basis, so the sooner you pay, the more you save.0
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