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Q.

I am going to take personal loan of270000 at an interest of 14% for a period of 60 months with emi of 6300. if i want to clear the loan after 5 months what was the amount i should pay

About: Should you prepay that costly personal loan?

Asked by rkvaradhi, 04 Feb '13 11:48 pm
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Answers (3)

1.

Generally you will have to pay a little extra other than the loan amount and the interest rate..It depends on the situation you are in..It doesn't always make sense to prepay a personal loan..
Source: http://completeguidepersonalfinance.wordpress.com/2014/05/08/does-prepaying-a-personal-loan-make-sense/
Answered by Vikram Krishna, 23 Sep 02:09 pm

 
  
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2.

..go through the terms and conditions of your loan agreement..
Answered by M H Kisan, 04 Feb '13 11:55 pm

 
  
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3.

All of it + foreclosure amount declared by bank might be 2%
Source: logic
Answered by simon waaras, 04 Feb '13 11:48 pm

 
  
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