Post by jaswells on Mar 19, 2017 9:12:23 GMT
Could somebody briefly explain the difference between the following:
Interest accruing. Interest is only payable if enough capital is received.(IA)
Serviced by Lendy (SBL)
Interest on account (IOA)
So is SBL and IOA paid monthly into the account but IA is only payable upon repayment of the loan? Just wondering as up until now I assumed monthly interest was payable on all loans held. Maybe schoolboy error on my part?!?
Interest accruing. Interest is only payable if enough capital is received.(IA)
Serviced by Lendy (SBL)
Interest on account (IOA)
So is SBL and IOA paid monthly into the account but IA is only payable upon repayment of the loan? Just wondering as up until now I assumed monthly interest was payable on all loans held. Maybe schoolboy error on my part?!?
