It is better to pay off that differed Interest amounts.
rather than they accumulate that amount to your existing loan balance. Otherwise you will be paying Interest on interest. Some banks will not ask you to pay that differed interest on next months but they accumulate to existing balance to increase their revenue!!
So take care when you need to defer an interest based loan payment.
It is better to pay off that differed Interest amounts.
rather than they accumulate that amount to your existing loan balance. Otherwise you will be paying Interest on interest. Some banks will not ask you to pay that differed interest on next months but they accumulate to existing balance to increase their revenue!!
So take care when you need to defer an interest based loan payment.