2007-06-28 01:44:12 · 8 answers · asked by donna r 1 in Business & Finance ➔ Personal Finance
Depends on the repayment contract with the bank. However, one thing NEVER changes, and that is the fact that you WILL pay interest starting from the first day you obtained the monies.
2007-06-28 02:34:58 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Depends on the type of loan and the installments. For some home loans, banks can include the first stub interest payment in the closing costs. Repayment dates are set once the loan is signed.
2007-06-28 03:40:12 · answer #2 · answered by PK 5 · 0⤊ 0⤋
It depends. Some lenders are now allowing a 3 month grace period which of course is just a ploy to build up more interest before you start paying the loan back but usually, you start paying back on the agreed date (1st, 15th or 30th of month) from the next month after you take the loan out.
2007-06-28 01:50:53 · answer #3 · answered by DMsView 6 · 0⤊ 0⤋
This depends on the bank - some will defer paymnet in the first three months - some will collect payment from the next month. This will be set out on your loan agreement papers.
why do you ask? - are you looking for a grace period?
2007-06-30 04:07:20 · answer #4 · answered by vera-ann 2 · 0⤊ 0⤋
If there is no payment break like three months the standard is within 30 days of the commencment of the loan.
2007-06-28 04:52:05 · answer #5 · answered by pollywallydoodle 3 · 0⤊ 0⤋
Usually repayments start one calendar month after the money is transferred to your account.
2007-06-28 02:00:45 · answer #6 · answered by Mogseye 3 · 0⤊ 0⤋
same date the following month
2007-06-28 02:45:22 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Typically start the next month.
2007-06-28 01:47:07 · answer #8 · answered by Troy Colts Rock 3 · 0⤊ 0⤋