With Loan and Credit you can conveniently save several ways. One of them is the possibility to repay the loan prematurely, completely free of charge.  The possibility of repaying the loan is not just science fiction, as you might think, when you are in trouble and looking for a loan.

How it works in banks

How it works in banks

Banks allow early repayment of the loan with a slight dislike, as they are running away from big interest money. Therefore, they often charged a number of differently high fees for early repayment, including commission to the intermediary and fee for lost interest income. As of 7 March 2019, the CNB’s decision on consumer credit for housing (eg mortgages) must not do so.

However, they may still be charged a fee to cover the actual costs your early repayment allegedly caused them. As a result, banks are losing a lot of money that they are likely to try to get on their customers in a different way – for example, by raising other charges or by raising interest rates slightly.

With Mortgage loan free of charge

With Mortgage loan free of charge

However, you can repay the loan prematurely for free . We do not charge any administration fee. This is very useful when you need to refinance the loan. For example, you may lose your job and only get a lower-paid job. At that moment, the repayment so far may be too high for you. If, for example, you have to repay from the principal, for example, USD 100,000, sign a new loan with a longer maturity for this amount and you will repay the old loan early and free of charge.

Early repayment of the loan may also be useful when you inherit a larger amount or do well in business. So you can have a loan “from your throat”, save on interest, your property will fall off the pledge and you can freely dispose of it.

Life is rich and can bring unexpected things at any time. The possibility of repaying the loan is not just science fiction, as you might think, when you are in trouble and looking for a loan. It is a practical measure that you can easily take advantage of. And it is nice when it is not associated with any unnecessary extra expense.

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