Repaying Loan Early - Is it a Good or Bad Idea? | Loan Repayment Tips | CS Sudheer

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  • čas přidán 25. 08. 2024
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    "Learn everything you can about personal loans, the documents you need, and who qualifies for them to improve your chances of getting one. Here is the course link: ffreedom.com/k...
    If you pay off your loan early, you will pay less interest on the borrowed amount. Also, if you pay off your loan early, you'll save a lot of money, and your credit score will also go up, making it easier for you to get another loan if you need to. If you pay off the loan early, you might have to pay a prepayment penalty. This could cancel out any interest savings you made, and it could also hurt your credit score.
    If you pay off your private or federal loans early, you can save thousands of dollars in interest over the life of the loan. If you have debt with high-interest rates, you can put your money to better use by refinancing your student loans. The amount and length of a loan can change your credit score. But your credit score is affected by more than just the loan itself. Your credit score is also impacted by how you handle the loan. It's essential to pay on time and to avoid paying late or not paying at all.
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    #earlyloanrepayment #loan #loanrepayment #repayingloan #earlyloanpayment

Komentáře • 9

  • @tunlalmuant7393
    @tunlalmuant7393 Před měsícem +7

    The music is really disturbing

  • @tallgirltraveller
    @tallgirltraveller Před 6 dny

    Should one sell gold and prepay 50% homeloan amount?

  • @knvinod1
    @knvinod1 Před 17 dny

    Tax benefits only available for up to 2 lakh interest. 80c of pretty much anyone will be already full with PF, VPF, PPF, ELSS, or LIC policies

  • @piyalib369
    @piyalib369 Před rokem +6

    Does cibil score decrease if I pre pay my personal loan ?

  • @anillondhe5366
    @anillondhe5366 Před rokem

    So simple to understand 🎉

  • @pankajhalder
    @pankajhalder Před rokem +1

    I need some advice to reduce HL of 50L by paying 10L from PF. PF is for retirement but I think if I close this loan quickly I can buy a new home that can be used during retirement or start investing in SIP. Confused what should I do.

    • @ffreedomapp_money
      @ffreedomapp_money  Před rokem +1

      We've a complete Financial planning course in our app, Do download our app!