HOW TO REPAY YOUR BUSINESS LOAN RESPONSIBLY

Homeloan02 Feb, 2022Finance

Setting up an automatic debit process of the loan instalment when it?s due is the best approach. Most lenders encourage having an ECS where the loan EMI is auto-debited at the due date from the borrower?s bank account provided by him during loan application. It spares the borrower from the hassle of remembering the due date every month and going around to deposit the EMI in cash. Make sure that your bank account has sufficient funds to process the EMI amount.