I have a question, if you take a loan of 4lacs and total amount due is 6laxs including interest, then let's say after a couple of months you decide to foreclose and you ha e paid 5k in principle and 5k in interest every month for four moths then you decide to foreclose, so from 4lac you have paid 20k in principle and 20k in interest, your principle due is 3.8 lacs, so when you go to foreclosure so you pay 3.8lacs or 6lac-40k ie 5.6lac?
If we take a second time loan from cred without closing the first loan payment how will EMI pay every month ? It means we have to pay individual loans like first and second or else have to pay at a time
Sir, after proceeding legally, will CIBIL get effected? Because bank will write in CIBIL as write-off .We are settling Loans and credit cards with legally so will it impact CIBIL sir?or banks they give any letter stating that CIBIL will not effect?
No interest charged for remaining months,. Since you closing the loan , loan will be charged till on the day of closure of loan account Interest is charged on a daily basis.
If we repay the loan early as you did . Do we need to pay full interest which was planned while opting for loan or only till the current month in which we are foreclosing
No need to pay extra interest for the remaining period . You will be paid interest till the day of closing as interest is charged on a daily basis I hope it helps
can i pre close the loan after one month, how much i have to pay if i took 2 lakh loan for 48 monthly EMIS, should i pay the total interest for 48 moths or just to pay the principal amount and present month interest.
If you had not foreclosed, you had to pay 344k, but since you foreclosed it you paid 346k, which is 2k higher. You actually had to pay higher to pay off early. why would i choose foreclosure if i had to pay higher amount of money?
I have a one doubt pls clarify, in my cred app now shows 80k loan limit, if I will wait one more month then loan amount will increase or not pls rly me
If your loan is closed you will get the EMail & Sms You will also receive NOC within a Week . If you have closed the loan , no future payments will be debited
@Naiwiktech even I do have the same doubt can you please reply on this while foreclosure do we need to pay the whole early interest amount or the monthly interest and principle amount
Very much informative video fast n quick with easy explanation. Thanks.
I have a question, if you take a loan of 4lacs and total amount due is 6laxs including interest, then let's say after a couple of months you decide to foreclose and you ha e paid 5k in principle and 5k in interest every month for four moths then you decide to foreclose, so from 4lac you have paid 20k in principle and 20k in interest, your principle due is 3.8 lacs, so when you go to foreclosure so you pay 3.8lacs or 6lac-40k ie 5.6lac?
It should be 3.8
It will be 3.8 only and pending month interest will be added. Thats all.
I have already close my loan but still its showing in my cibil what to do
Wait for one month it will be updated late in some cases
If the total intrest for 12 months is 5600 but i will pay in three months is intrest get less or total intrest should be pay
If we take a second time loan from cred without closing the first loan payment how will EMI pay every month ? It means we have to pay individual loans like first and second or else have to pay at a time
Sir, after proceeding legally, will CIBIL get effected? Because bank will write in CIBIL as write-off .We are settling Loans and credit cards with legally so will it impact CIBIL sir?or banks they give any letter stating that CIBIL will not effect?
If we choose foreclosure the loan is that includes remaining months instrest ?
No interest charged for remaining months,.
Since you closing the loan , loan will be charged till on the day of closure of loan account
Interest is charged on a daily basis.
If we repay the loan early as you did .
Do we need to pay full interest which was planned while opting for loan or only till the current month in which we are foreclosing
No need to pay extra interest for the remaining period . You will be paid interest till the day of closing as interest is charged on a daily basis
I hope it helps
@@NaiwiktechThankyou
Your principal pending amount was around 3.44L but you 3.46 why? They say no foreclosure charges they why
Interest Amount is charged on daily basis it will show you the exact amount on the day of payment
There are no foreclosure charges
Paying month days interest will be added. It will be small amount only.
Hi bro... are they adding gst for every months
can i pre close the loan after one month, how much i have to pay if i took 2 lakh loan for 48 monthly EMIS, should i pay the total interest for 48 moths or just to pay the principal amount and present month interest.
You can pre close the loan at any point of time as interest is calculated on daily basis
Your total exact amount will be shown at the time of closing
How to stop e mandate after the 100% repayment ??
After 100% repayment e- mandate will stopped automatically
If you had not foreclosed, you had to pay 344k, but since you foreclosed it you paid 346k, which is 2k higher. You actually had to pay higher to pay off early. why would i choose foreclosure if i had to pay higher amount of money?
That 344k is just principal, if you add interest of remaining tenure, it'll cost more than 346k
346k is including interest
After closing how can we take the loan second time bcoz i closed nd nw in cash nothing updated
Same bro what to do to get sexond time
My total amount paid is not showing on the cred application
Will it impact the credit score if we foreclose the loan?
When we foreclose is it only principle amount we pay back or even principle plus interest
same doubt !! kindly reply
@@jamesdennison77 I took the loan and I checked the option for foreclosure and the amount is the outstanding principal
I have a one doubt pls clarify, in my cred app now shows 80k loan limit, if I will wait one more month then loan amount will increase or not pls rly me
Interest will be calculated on the daily basis . So you can check the amount you need to pay
Can take a loan for 10-15 days ????
My loan is closed still my autopay pay is on they cut my balance
If your loan is closed you will get the EMail & Sms
You will also receive NOC within a Week .
If you have closed the loan , no future payments will be debited
Foreclosure option not showing what to do.?
Wait for a day or two it will show up
How can I pay Half of the money??
Sir i closed the loan bt its msgs coming again to pay the emi
Hi sir
Can I foreclosure the loan amount after 4EMI
Yes you can
Not showing foreclosure
Wait for 2 days it will be shown.
Even after 2 days it is not visible means contact customer support
Same problemt
@@Naiwiktechme too
Me tooo bro
The customer care contact number is also not available
Part payment is available
Yes
@@Naiwiktech could you please make a video on how to do a Part payment on cred cash loan. It might be useful. And no one has posted video on this
What happened we dont pay the loan
If you dont pay the loan cibil will be affected
Do they send any laon documents to home address
No, all are digital, soft copy of loan may send to email only. Nothing with physical copy.
Can we close the loan within two or three months.
Yes you can
@@Naiwiktech but intrest applies for total year or only for three months ?
@Naiwiktech even I do have the same doubt can you please reply on this while foreclosure do we need to pay the whole early interest amount or the monthly interest and principle amount
Sorry to ask you this but the transaction limit is 2 lakh and we are doing payment of above 2 lakh
How is it possible
Use Net Banking to pay the loan
Brother what interest rate is applied to your 5L loan ?
Don't take from cred you will have to pay 20%pa
Example now we have 2000 cred loan if i want to pay 1000 can i pay now
Same doubt bro
No
Its closed but showing in cibil
It might take 1 week to a month for the update in CIBIL records
This foreclosure affects the cibil score...
Not Much Bro
Not showing
Option nhi show ho Raha FC ka kya kare
Cred cash lene par intrest kitna lagega?
It depends upon your credit score
In my cred foreclosure option not available
Try for few days , it will be shown
For me also , it didn’t shown but after one day foreclosure option is shown
Cred loan
Why they are charging insurance
We can cancel that insurance???
You have the option to uncheck insurance while taking the loan. But for some the option yo uncheck loan is not visible
@@Naiwiktech yes it's not available
So wat to do
I need to cancell
How to take noc
NOC will be issued automatically via email / sms once you close the loan completely
No option for close
Wait for 2-3 days it will shown,
otherwise contact CRED customer support they will help you in this regard
There’s no foreclosure options available 😢
Try two to three times it will show up
For me also for the first time Foreclosure option was not shown
foreclosure charges h kya ekse
No foreclosure charges in Cred
I have foreclosed the loan through IDFC website. When it will reflect on my Cred Cash?
No idea about that Bro
Do share your experience of foreclosure on IDFC website
@@Naiwiktech I asked cred’s customer care and they told me it may take 7 days for the update.
But for mu friend it took 2 days for update
Be patient it will be updated
@@jaybty99did it update?
@@jaybty99update hua bhai
Same
Not showing why
For the first time it has noyt shown the option for me also
After a day / Two it shown me the option to close the Cred loan