All Topics / Finance / Pre Paying Interest

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  • Profile photo of fredo_4305fredo_4305
    Participant
    @fredo_4305
    Join Date: 2009
    Post Count: 336
    March 15, 2010 - 11:41 pm

    Hi all,

               Is it possible to pre pay say 3 months worth of interest and then in the 4th month you start paying monthly again?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 16, 2010 - 4:33 am

    Yes it is but wont do you much benefit.

    Normally if you want the Tax deduction in the current year you would pre-pay 12 months interest.

    Richard Taylor | Australia's leading private lender

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