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Paying off a loan
Hi there
I was wondering if someone had any advice or knowledge about loans.
I have a loan which I am paying off every month. Some months I have paid off a little extra but it hasn't really affected the amount at the end of the month due to the interest. I was wondering if there was a better time of the month where you could pay off extra and get the maximum benefit, e.g the last day of the month or the 1st day of the new month etc.
Hope that makes sense
I was wondering if someone had any advice or knowledge about loans.
I have a loan which I am paying off every month. Some months I have paid off a little extra but it hasn't really affected the amount at the end of the month due to the interest. I was wondering if there was a better time of the month where you could pay off extra and get the maximum benefit, e.g the last day of the month or the 1st day of the new month etc.
Hope that makes sense
0
Comments
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Hi there
I was wondering if someone had any advice or knowledge about loans.
I have a loan which I am paying off every month. Some months I have paid off a little extra but it hasn't really affected the amount at the end of the month due to the interest. I was wondering if there was a better time of the month where you could pay off extra and get the maximum benefit, e.g the last day of the month or the 1st day of the new month etc.
Hope that makes sense
Ask the loan provider.0 -
Interest is accrued daily, so the sooner the better.0
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As early as possible.
All repayments will make a difference, as the interest will be reduced.0
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