The early repayment of the loan is an operation that can be carried out in relation to the credit lines taken out in order to make personal, family and professional expenses. However, before approaching this kind of initiative, it is necessary to try to know what are the clauses and rules that underlie this possibility remitted to the debtor and, in particular, what are the economic conditions that regulate an eventuality of this nature. In other words, when it is possible to proceed with the early repayment of financing? And how much do you pay?
First of all, let’s remember how anyone who has taken out a loan has the possibility of being able to repay the sum obtained even before the natural expiration of the loan. The early repayment of the loan is therefore an alternative method of repayment compared to the ordinary one, which provides for the termination of the relationship through compliance with an amortization plan which provides for the gradual return of the capital and interest, according to the procedures established in internal of the contract signed with the lender.
however, an extraordinary option granted to the debtor, on the contrary. In all loan agreements, in fact, the possible possibility that the debtor may pay off all or part of his debt prematurely is clearly stated, under conditions and characteristics that will be governed by the same contract.
In this context, it is of interest to find out what the cost of such an early repayment is. As regards mortgages, the burden was canceled by the so-called Bersani decree, which canceled the penalties for mortgages for the purchase or renovation of the first home. For other cases, including personal loans, the penalty continues to exist, although limited – in most cases – to 1% of the capital still to be repaid. Considering that there may be significant differences depending on the lender, our advice is to carefully consult the loan agreement signed.
As regards instead the method by which it is possible to proceed with the early repayment, we remind you that this is generally linked to a prior request to be made against your bank, in which you will indicate the date on which you believe you can proceed with the termination of the relationship: a preventive step that will allow the bank to calculate with certainty the total to be paid for the extinction of the credit relationship, and which also applies in the case of partial extinction (with the amortization plan that will continue in installments of a reduced amount, proportionally as extinct).
The payment of the residual amount can be made by bank transfer or, alternatively, bank draft or bank check. In this second hypothesis, however, it will be necessary (especially in the case of the bank check, while facilitations may be made for the circular) to wait for the time necessary for the bank to verify the solvency of the negotiated debt security.
However, it is given that each lender has different rules to that effect, if you intend to proceed to ‘early repayment loan is a good idea to discuss it ahead of time with your consultant and reference, below, follow the signs agreed.