Can I pay off my car loan early? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Can I pay off my car loan early?

Asked by Banky team 2 months ago 2 views
Banky team Reviewed editorial answer

Yes, the customer has the right to early settlement (full or partial). An early settlement commission of between 3% and 5% of the outstanding amount is deducted, after which the bank issues a sale prohibition release letter to be submitted to the Traffic Department.

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