Paying back interest of a loan with interest earned from a bank acciunt
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I have took a loan. I am going to pay it back for next ten years. Every month I pay 600 dollars interest in this loan installment. After taking loan, I got 50 thousand dollars from somewhere. I asked bank to take it. They said it is not possible because we want to earn interest.
Can I put my money in the same bank and earn interest on it which is around 100 dollars and then pay it back to same bank in the loan installment which has 600 dollars interest in it?
Asked by SNiaz
(11 rep)
May 15, 2024, 06:15 AM
Last activity: Jun 13, 2025, 02:06 AM
Last activity: Jun 13, 2025, 02:06 AM