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What is needed for early repayment of the loan?

If a borrower becomes available cash, and he decided to save on interest to the creditor under the classical scheme of repayment or just get rid of the moral credit of the cargo at annuity, he may come to the bank or credit union and pay its debt on the loan.

The fact that the prepayment occurred without any fees or penalties at any time convenient to the borrower, the client should take care before signing the loan agreement.

Before committing a hike to a lender it is desirable to call the credit department of financial institutions and to clarify the possible date and time suitable for early repayment of debt.

After agreeing on a date and time, the borrower must take the money, passport, original TIN and the loan agreement with the payment schedule. In the credit department will issue an economist credit slip for payment of all or part of the debt on the loan and interest on the amount that the client is willing to pay. After making money in the bank's cash prepayment is considered to have been effected.

Freeware, simplicity and accessibility of early repayment of the loan and interest - are indicators of decency of the bank or credit union in its relations with customers.