When applying for a loan, the borrower is always interested in the size of the monthly payment and the interest rate, and he often forgets to ask about the methods of repayment of the loan. Therefore, when it comes time to repay debts, he begins to rush in search of a place where he can pay off the loan. To prevent this from happening, each borrower, even at the stage of obtaining a loan, must study the information on how best to repay the loan. Then he will be able to avoid the occurrence of many problems associated with the accrual of fines and penalties for late loan repayment.
Instructions
Step 1
There are several ways to pay off a loan. You can make monthly payment of the loan in cash at the additional office or branch of the bank that provided you with the loan. In this case, you will be able to completely eliminate the risk of late depositing cash to the account, since the deposit takes place within a few hours. But this method is convenient only for those who live near such an office.
Step 2
You can repay the loan using an ATM or payment terminal. The advantage of this method is that today such devices can be found at almost every step. But it should be remembered that when paying for a loan from a competing bank, the ATM may charge a small percentage for the payment transaction.
Step 3
You can pay for your loan at the office of a bank other than the lender. But here, as in the case of the ATM, you will be charged a commission. In addition, the term for crediting funds to the account can vary from 1 to 3 days, so you need to deposit money in advance so that they have time to reach the time specified by the lender.
Step 4
In order not to pay an additional commission, use the services of mobile communication salons that provide the opportunity to conduct financial transactions. In addition to the absence of commission, such salons guarantee instant crediting to the account, which means that you can avoid delays.
Step 5
Today, you can also use a non-cash transfer of well-known electronic payment systems. Due to the promptness of crediting funds to the account and a relatively low commission, this method of loan repayment is very popular among borrowers.
Step 6
A very convenient way to repay a loan is a non-cash payment from a share of the salary. To do this, write an application to the accounting department at the place of your main work, where be sure to indicate the frequency of debiting funds to make a loan payment. So, you completely eliminate the possibility of delays, accompanied by penalties and fines.
