How much interest will I save if I pay off my loans sooner?

How much interest will I save if I pay off my loans sooner?
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1 Answer

Answer :

If it is simple loan then you will have to pay interest only for the days for which you have used the funds. This will result in saving interest on remaining duration of loan period. There are lenders who have agreement which state the extra money that you have to pay in case of early repayment. Please check loan agreement.
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