Personal loan clearence

Bro,

Yes there is a benefit.. financially. Common Bank practice will charge you an additional 1% of your outstanding loan plus interest charge of the current month. 1% is the value to compensate their future lost of interest on your loan.

Ex. QAR 50,000 x 1.01 = QAR 50,500

Cheers,

i belive u will pay less on the Interest rate .

the only advantage could be.....

if your loan is covered under an insurance policy you will not have to pay for that for the remaning months.

I think you have to pay extra (some percentage) for early settlement

off course , there is difference if you go for one time settlement. Better you go to bank meet with manager rather than going through sales team.

Thanks

Try talking to an account rep in the bank from which you took the loan and find out.

My guess is in a public forum maybe you won't get the detailed information you need.

Regards!!