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How to collect additional interest money without increasing the amount of installments

by endroar
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According to the instructions of the central bank, the interest rate fixed by the banks before July 1 of last year should be kept unchanged. If a customer's installment amount increases due to new interest rate, the excess amount should be transferred as interest-free separate blocked. After the expiry of industrial and home loan period, the additional amount added as separate due to new interest rate should be arranged to be repaid in equal installments. Additional interest can be paid in installments during the additional time required for this. In this case, the debt status till March 31 of the current year should be taken into consideration.

As an example, let's say that the monthly installment amount of a person's home loan before July 1 last year was Rs. 10,000. At that time, this installment was collected at 10 percent interest rate. Now the interest rate has increased to 15 percent. The installment amount of the borrower has increased to 10 thousand 500 taka. Due to the new interest rate, the additional 500 rupees for installments cannot be recovered through monthly installments. Transfer this additional 500 rupees as a separate block and take the initiative to recover the customer's loan after the maturity.

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