pls clarify: Mr. a had taken loan from Mr. B with agreement of 11 months for repayment. whereas Mr. a want to pay this loan after 2 month. can he legally pay whereas lender asking for 11 month interest as per agreement.
First remit the amount with actual interest and entire principal through demand draft (Account payee crossed) by Regd post and let the lender either reject or proceed on you for recovery of such balance interest even after the principal is returned. Every issue depends on a mutual agreement which is in writing. If there is a clause that prepayment is permitted subject to payment of interest for the full contractual period, you are bound to pay such amount with interest for 11 months, if not or the agreement is silent, you have to pay interest only for that period of the amount actually remained with you.