Prepayment penalty / Prepayment interest

2019-09-11 14:54:42

My astonishment resulted from the fact that the prepayment penalty can be higher than the interest payments. It is understandable why, I just hadn't considered it. Whatever the rules are, you have signed them or they are influenced by legal regulations. You only notice when the time comes. At this point, I am not trying to complain about bank fees or question the business model of banks.

2019-09-11 15:08:31

My surprise stemmed from the fact that the prepayment penalty can be higher than the interest payments. It's understandable why, I just hadn't considered it.
Whatever the rules are, they have been signed or are influenced by legal regulations. You only realize it when the time comes.
At this point, I am not trying to complain about bank fees or question the banks' business model.

No no, it's alright. It's just that it's always seen negatively.

2019-09-11 15:38:39

My surprise resulted from the fact that the prepayment penalty can be higher than the interest payments. It is understandable why, I just hadn’t considered it.
Anyway, whatever the rules are, you have signed them or they are influenced by legal regulations. You only realize it when the time comes.
At this point, I am not trying to complain about bank fees or question the banks’ business model.

The bank’s bill was just kept pretty vague.
None of that was included on it.
They also got snippy when a detailed bill was requested.

But it all seems to be correct. Which is annoying for me.
Best regards

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Prepayment penalty / Prepayment interest

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