Will the salary loan payment increase if the salary transfer is stopped? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Will the salary loan payment increase if the salary transfer is stopped?

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

This isn't automatic at every bank.

Steps

  1. Benefits or terms associated with salary transfers may vary depending on the contract.

  2. Ask the bank to explain how stopping the transfer will affect the rate, fees, and payment method.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

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