Impact on your Loan Tenure and EMI amount when you make extra payment in Loan Account

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Impact on your Loan Tenure and EMI amount when you make extra payment in Loan Account


We have shown the impact of extra payment on loan accounts, the things will impact is given below :

1. Loan tenure : Whenever any customer makes extra repayment to Loan account than the tenure of loan will decreased proportionality. This means that the loan account will close earliers than it meant to be.

2. EMI : it will not impacted and customer will going to pay regular EMI.

Murari Garg
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