In order for a customer to get a discount on the loan repayment installment, he must advance the payment of the slips. Performing full or partial debt settlement can generate a financial advantage, saving you money and lowering your debts in the square.
The amount of the discount varies according to the bank or contractor, due to the proportional reduction of interest in each installment. Any financial institution, except when offering a consortium, is required to give discounts in advance of repayment of installments of a loan, be it personal, payroll or otherwise.
Discounting amounts to anticipate installments may be a good option for consumers.
How can I take advantage of the parcel discount?
To anticipate installments of your loan you need to contact the institution where you got the credit to know the procedure and how much will be discounted. Until the last decade, there was a counterpart, other fees may be charged due to the advance payment.
All debt settlement charges charged by the bank or finance company must be included in the loan agreement that was previously signed, as well as the early installment discount amounts.
In contracts signed as of December 2007, according to law, the collection of these rates is prohibited, which facilitates the life of debtors who can advance the payment of installments of a loan without having to pay any fees for it.
It is important to note to consumers that in these cases, the institution where the loan was made must inform the exact amount of the debt to the borrower in case of early repayments. Clarifications on this matter may be requested at any time by the client and the institution must ensure that the consumer understands the calculations and conditions for partial or total settlement of the debt.
When is the best time to anticipate installments and get discounts?
In some cases, you may get a higher discount rate than anticipated. The best time to prepay a loan is when the Selic rate is high. This gives you a higher settlement value.
One tip is not to settle the loan with the Selic (Special Settlement and Custody System) up if you intend to take out a new loan, because in this scenario the new debt will have higher interest rates. By settling a loan with low Selic, it is possible to generate a new loan with lower rates.
The formula for calculating the discount is based on three factors, check it out:
Contracted Rate (on contract) – TMS (Average Selic Rate) on loan contracting + TMS on installment advance date = discount amount
Is the parcel discount worth it?
Advance installments are indicated for consumers who have a free amount that can be spent to partially or fully repay a loan. The advantage of the discount is satisfactory in these cases by decreasing the final debt value.