Whenever you borrow money where interest is due you'll likely need to make a residual interest payment when you've paid it off in full.
The interest isn't added to your loan in one big chunk at the start, it's actually added on every month when your payment is due. Doing it this way means that any additional payments you make outside of your agreement will reduce the overall amount of interest you owe.
We've created a handy guide to explain what happens if you settle your loan balance mid month as an example.
*Dates and values shown are examples only.
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