Aug 13 2020, 11:14 AM
QUOTE(kyle9988 @ Aug 5 2020, 05:44 PM)
well banker said if pay more example - 3k will only park there and reduce the principal interest rate not offset the principal for semi flexi loan. if want to fully deduct as per full installment, need to sign another doc.
yes, it will not offset the pricipal, but the interest will decrease based on the amount you put into the loan account. The point is, as you know, the interest is actually almost or even higher amount than you principal. So, the more money inside the loan account, the less money you need to pay at the end.
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