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credit union loan repayments

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  • 24-04-2014 12:43pm
    #1
    Registered Users Posts: 53 ✭✭


    Bit confused. I know the interest is paid on the decreasing balance, so does that mean my repsyments get smaller as I get closer to paying off the loan?


Comments

  • Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    No, your repayments consist of Interest + Capital.
    The interest portion goes down as the capital portion goes up.
    Same payment all the way through..


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