bank loans mechanisme
Posted: Fri Jul 3, 2020 10:00am
Hi everyone ,
has anyone got an experience with bank loans in Spain .example .If say we get a loan of 20,000 euros from a bank a fixed rate of 2% , over say five years ... we get a reimbursement plan from the bank for five years showing the monthly installments.
in the first 2 years of reimbursement the loan amount goes on diminishing , but the outstanding amount looks still higher ..
is it to do with interests reimbursement only in the first years ?
Thank you