The total repayment amount varies depending on the repayment method selected. Here are some tips for choosing a repayment method that fits your life plan.
A repayment method that provides a fixed monthly repayment amount.
|merit||Since the repayment amount is fixed, it is easy to make a repayment plan, and at the beginning of repayment, the monthly repayment amount is lower compared to “equal principal repayment”.|
|Demerit||Since the “principal” does not decrease at the beginning of repayment, “interest” on “principal” is also large, and the total repayment amount is higher than “equal principal repayment”.|
It is a repayment method that repays the “principal” in a fixed amount.
|merit||Since the repayment of the “principal” is constant, the “interest” on it will also decrease, and the total repayment amount will be lower than the equal repayment of principal and interest.|
|Demerit||At the beginning of repayment, the monthly repayment amount will be higher compared to the “equal principal and interest repayment”.|