HI,
I TOOK A CONSUMER DURABLE LOAN ON 2020 AND AM UNABLE TO PAY THE LOAN BECAUSE I LOST MY JOB DURING THE PANDEMIC.
BUT NOW I WANT TO SETTLE DOWN THE LOAN AT ITS LOWEST RATE .
SO PLEASE HELP ME WITH THIS
Respected Shibani Chakraborty,
There are a few ways you can repay loans easily.
1) Opt for a Higher Down Payment
2) Choose a Loan With a Longer Repayment Tenure
3) Go for a Step-Down EMI Plan
4) Consider Taking Loans With Your Existing Bank
5) Negotiate With Bank For Lower Rate
6) Compare Before You Switch Your Lender
7) Full or Part Prepayment Helps Reduce Loan Burden
8) Prioritize Payment of Loans With The Highest Interest
9) Take a Balance Transfer Loan
Regards,
Anaita Vas
