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Many thank you Bimal Man sir n jay Jay money sir.

Thank you Jai hos ji naya kura sikiyo in details

Dear Sharesikaru Ji,
The prepayment charge depends upon the nature of loan you opt to enjoy. For overdraft limits you need not pay the prepayment charges while for other scheduled/term loans you have to pay it. For term loans there is a provision of Equated Monthly Installments (EMIs) which is adjusted in such a way that interest and principal is diluted such that the limit terminates at the specified time. Regarding prepayment charge, if you have enjoyed term loan limit of six years and plan to settle the limit at the end of first year, with the assumption of 100,000(One Lakh) loan limit @ 10.00% p.a, you have to pay 1,852.52 as monthly EMI/installment. Hence at the end of 12 EMIs you will have actually paid 9,423.54 as interest and 12,807.46 as principal. So the bank might levy you prepayment charge on 100,000-12,807.46=87,192.54. Depending upon the bank, the prepayment charge varies from 0.5-2% and the applicable aging of the loan limit varies from 2-3 years or earlier. This means if you repay the loan upto 24-36EMIs beyond that the bank may not charge you the prepayment charge. But it depends upon how old the bank is. Few commercial bank are so much cunning that the prepayment charge is applicable throughout the tenure of the loan. Though it is clearly mentioned on the offer letter which you can check and discuss before signing.
I don't know whether i have cleared your confusion or added even more. Nevertheless, enjoy booking credit.


Regards
Jay Jay Money.

Dear ShareSikaru,You will pay one year interest and prepayment charge also.

Bimal Man Sir and other expert. yedi maile 6years ko lagi loan leyar yedi 1barsa vitra tire bhane 6years kai intresr
repayment garnu parcha. please if you know help me.