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Best way for early repayment for a loan
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Hi
I have a couple of loans and i am now able to pay them back in full, i was just wondering if i pay back in full or would it be best to make a large overpayment so the following month the direct debit would be the final payment.
I only ask to see what is best for saving on interest.
Thank you
I have a couple of loans and i am now able to pay them back in full, i was just wondering if i pay back in full or would it be best to make a large overpayment so the following month the direct debit would be the final payment.
I only ask to see what is best for saving on interest.
Thank you
0
Comments
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Depends on what your credit agreement says about making overpayments or settlement of the entire loan. If the lender charges you on overpayments or settlement then just clear it all.0
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