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Partial prepayment of the loan is not accepted by the bank.Whether interest expense can be saved depends on the period between loan early settlement date and last instalment due date. In the event of early repayment of the Loan in full, the followings will become immediately due and payable:
1. The outstanding principal amount of the Loan in full;
2. All accrued but unpaid interest, fees, charges and any other liabilities you owe to the Bank under or in connection with the Loan;
3. An amount equal to the interest at the difference between the Original Interest Rate and the Drawdown Interest Rate accrued from the drawdown date to the immediately preceding Repayment Date of the Loan on the then outstanding principal amount of the Loan as on each Repayment Date of the Loan prior to the prepayment of the Loan as if the interest on the Loan between the drawdown to the immediately preceding Repayment Date of the Loan was at the Original Interest Rate.
