Loan Interest Recalculation

Loan interest recalculation refers to the process of adjusting the interest rate of a loan based on the current principal amount outstanding. This means that as the principal balance reduces over time, the interest rate charged on the outstanding amount also reduces. By recalculating interest, borrowers can potentially save a significant amount of money over the life of their loan. However, it is important to note that not all lenders offer this service, and it may come with certain fees or restrictions. It is always best to consult with your lender or financial advisor before making any decisions about loan interest recalculation.