Mar 3 2023, 10:15 AM
QUOTE(cts0418 @ Mar 3 2023, 10:06 AM)
If lets say I have a 500k loan, and I directly transfer 500k cash to the loan but I didn't go to the bank to settle the loan, what will happen next month? Do I still get charge for interest ? reason for asking this is because I would like to avoid interest from the loan as much as I can, and indirectly I still have some cash ready in the loan for withdrawal incase of any emergency.
depends on your loan type. some only deduct that exact amount from your "loan account".so even if you put 10 million inside, it continues to only deduct the monthly instalment.
to settle loan, or put in large sums, always call your bank and tell them.
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