Pay on time, reduce interest Clear debt faster—it really works 🎉
How does it work? Which loans qualify? Ngern Tid Lor has the answers.
Get an interest discount just by paying on time
For good-standing customers with car loans (sedan-pickup) and truck loans
Example payment comparison table
an interest rate of 24% per year
Reduced interest
Pay installments on time or be late no more than 1 installment
From the sample table
of interest discount calculation
Normally, the installment amount paid by the borrower
is allocated to principal and loan interest.
The amount is deducted as follows:
- Credit protection insurance (PPI) deduction
- Interest deduction
- Principal deduction
- Other fees (if any)
However, if Ngern Tid Lor borrowers pay on time, they will receive a refund in the form of an interest discount as determined by the company. For example, if you pay according to the terms, you will receive an interest discount of 50 baht.
Therefore, the borrower will pay interest of only 500 - 50 = 450 baht. When the borrower pays less interest, they will have more money to add to the principal at 1,400 + 50 = 1,450 baht.
If you would like to know your own interest discount, you can request a debt schedule at any Ngern Tid Lor branch.
Loans that qualify
for interest discount
Note: Must be loan contracts created from March 1st onwards, and the borrower must have a good on-time payment record to receive the discount for the full term of the contract.
Things to know
If I don't make my payment on time according to company terms, will I still receive the interest discount?
Negative effects of late payments
- You may incur penalties and extra fees
- You may pay more interest
- Your credit score may be negatively affected
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