S suimhneach Registered User Messages 78 26 Nov 2008 #1 just a quick question how many times a year should interest be charged on a loan?
W WaterSprite Registered User Messages 1,309 26 Nov 2008 #2 It'll say it in the loan documentation but in respect of any loan I've every had, interest was charged monthly (although calculated daily)
It'll say it in the loan documentation but in respect of any loan I've every had, interest was charged monthly (although calculated daily)
E emrool Registered User Messages 20 26 Nov 2008 #3 In my credit union the interest is calculated and charged weekly irrespective of whether the loan terms are fortnightly or monthly.
In my credit union the interest is calculated and charged weekly irrespective of whether the loan terms are fortnightly or monthly.
T TarfHead Registered User Messages 1,672 26 Nov 2008 #4 WaterSprite said: It'll say it in the loan documentation .. Click to expand... I agree. In the case of the 'main' banks, personal loans normally have interest charged every 3 months.
WaterSprite said: It'll say it in the loan documentation .. Click to expand... I agree. In the case of the 'main' banks, personal loans normally have interest charged every 3 months.
W woodbine Registered User Messages 442 27 Nov 2008 #5 i just cleared a BOI loan early and got a small rebate as the interest is applied quarterly.