Instruction
1
Repay the loan ahead of schedule. To do this, first find out the conditions relating to similar account with the Bank in your loan agreement. It's possible that your Bank charges a fee for such action. In this case, calculate whether the remaining amount of interest will be less than the stated financial institution of a fee.
2
Come to the Bank with the necessary amount of money for early repayment of the loan. Most often you will be required to repay the entire remaining amount excluding interest. But some banks allow the possibility of partial early redemption with a corresponding change in payment schedule. Deposit funds to the credit account, and then write a statement about the early closing of the credit agreement. It is also advisable to obtain a certificate from the Bank stating that you have no debt.
3
If you have enough money for early repayment, try to obtain financing for on-lending. Such a loan is designed specifically for closure of the existing and issued at a lower rate, due to which you benefit. To refinance in the same and in the new Bank. Information about these programs is posted on the websites of financial institutions and in their promotional materials. Usually, refinancing requires the same documents as for a conventional loan - passport, proof of income and copy of employment record. In case of approval of your application the money will not be given to you in cash and will be transferred to the account to close an existing loan. But if you have received an amount greater than required to pay for the first loan, the money you will be able to get your hands on.
4
When you pay the loan on the schedule of payments to avoid delays. Otherwise, the Bank may assign you a different fee, which will increase your next monthly payment.
