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Thread: Early repayment of scooter advacnce or computer advance

  1. #1
    Junior Member govindsss is on a distinguished road
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    Default Early repayment of scooter advacnce or computer advance

    Dear Sir,
    Pl. clarify my doubt that if I repay the availed scooter advance or computer advance in advance , Shall I have any monitory benefit in that case, pl. explain me in detail.

  2. #2
    Senior Member Victor is on a distinguished road
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    Default

    Quote Originally Posted by govindsss View Post
    Dear Sir,
    Pl. clarify my doubt that if I repay the availed scooter advance or computer advance in advance , Shall I have any monitory benefit in that case, pl. explain me in detail.
    Yes the interest liability will come down as the same is calculated on the basis of the outstanding balance on the last day of the month.

    Victor

  3. #3
    Junior Member govindsss is on a distinguished road
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    Default Interest calculation

    Dear Victorji,

    Thank you Sir, May I know the calculation or the interest rate (is it calculated on monthly basis or total principle+interest divided by no. months).
    Govind.S
    Govindsss@rediff.com

  4. #4
    Senior Member prasannakumar is on a distinguished road
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    Default

    It is
    principal installment amount + principal outstanding x (rate of interest/100)/365 x No. of days in the particular month i.e. 30 or 31 or 28 or 29 days

    Prasanna Kumar

  5. #5
    Senior Member RKPATHAK is an unknown quantity at this point
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    Default

    No such special benefit

  6. #6
    Member vgsingh is on a distinguished road
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    Default relation between GPF wdrawl and computer advance

    I made an application for computer
    advance in the about one year back
    but was kept waiting till now. In the
    meanwhile I took GPF withdrawal for
    the the purchase of computer. Now
    they are saying that since you had
    taken GPF withdrawal for the
    purchase of computer hence computer
    advance cannot be given. What should
    I now can do. What are the rules
    regarding this. Please guide me.

  7. #7
    Junior Member baburaoreshika@gmail.com is on a distinguished road
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    yes u may get some benifit of the preclousre of the loan

    for that ask your admin people to calculate the balance on your account as on date and the interest

    make the payment attach the payment challan in original and keep a xerox copy with u and with the request letter to do the balance settlement

    since the interst is calculated on the balance on your loan amount per month,u will get some benefit

    but the thing is u have to go and ask the person who is incharge in your admin department to show some interest and giving care on your request and do the calculation allas ? he should know the formula to do it and then begins the bank work atlast but not the least u have to write a letter and which should positively not lost somewhere inbetween the ocean of files all depends on how many times u go and requst and how much time u spend beyound your furstrations to contact them and how they react to ur request

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