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PTSB Loan

ebayissues · 2021-11-17 17:11:04

Hey Guys, I took a loan from PTSB for 5 years. I was told I would be paying 400PM. I have been overpaying now by 600e for 3 months now. On a monthly basis 400 & extra interest of 100 are being deducted out of my account. Does this make sense? The obvious answer would be a penalty for overpaying on interest. However, I…

17-11-2021 6:11pm

#1

ebayissues

Registered Users Posts: 448 ✭✭

Join Date: October 2011

Posts: 413

Hey Guys,
I took a loan from PTSB for 5 years. I was told I would be paying 400PM. I have been overpaying now by 600e for 3 months now.
On a monthly basis 400 & extra interest of 100 are being deducted out of my account. Does this make sense? The obvious answer would be a penalty for overpaying on interest. However, I believe the loan I took about allowed me to overpay without any penalty.
Using ptsb loan calculator, a 20k loan amount to 424, including interest and principal. So there must be something awry with the extra charges. Any thoughts?

0

Comments

#2 18-11-2021 10:16am

Henry Ford III

Moderators, Business & Finance Moderators Posts: 17,739 Mod ✭✭✭✭

Join Date: January 2006

Posts: 17409

Ask your lender.

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