What Is Prepayment Of Loan What Does Prepayment Of Loan Mean Prepayment Of Loan Meaning

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Posted on July 20, 2018 at 16:48 PM



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Prepayment financial definition of prepayment
Prepayment 1. The payment of a debt in full before it is due. Prepayment is good for the borrower because it relieves him/her of the debt, but it deprives the lender of interest he/she would have received otherwise. As a result, some lenders attach prepayment penalties to loans to disincentivize prepayments. Prepayment can me a major risk to ...
Exact meaning of no prepayment penalty in installment loan
What exactly does the phrase "no prepayment penalty" mean? To illustrate, let's consider the following example: I borrow an installment loan of $1000 and it says that I need to pay $300 monthly for 10 months.
How does prepayment (partial/full) of a loan (personal or ...
Prepayment, either in full or partial, of a personal loan or car loan, will not adversely affect your credit score. A personal loan is an unsecured loan and a car loan is a loan on a depreciating asset.

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