⚡️QUESTION;
I got a consumer loan from a bank. According to the payment schedule, I have to repay the loan in July 2022. My question is, if I pay off all my remaining debts without waiting for July 2022, will I have to pay interest for the period up to July 2022, or will interest be calculated for the remaining months if it is paid ahead of time? ?
⚡️ANSWER;
Article 06.05.2006 of the Law of the Republic of Uzbekistan "On Consumer Loans" No. ZRU-33 dated 16 is called early repayment of consumer loans, according to which the consumer has the right to repay the amount of the consumer loan and pay interest accrued on the loan ahead of schedule. In this case, it is stated that the consumer only pays interest on the consumer loan for the period actually used.
❗️I mean, if you take a consumer loan for 3 years but repay the loan in one year instead of 3 years, you will not be charged interest for the remaining two years. Interest on the loan is calculated only for the time you have used it.
✏️ For example, let's say you get a loan of 3 soums with a 100-year contract, you have to repay it at 3 percent in 130 years, but if you repay the debt in one year, not in three years, 100 soums instead of 130 soums, 110 soums You can close it all by paying m.
At the same time, the bank staff will stop bullying you.
