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Deferred Interest

Deferred Interest

Deferred interest is when interest payments are deferred on a loan during a specific period of time. You will not pay any interest as long as your entire balance on the loan is paid off before this period ends. If you do not pay off the loan balance before this period ends, then interest charges start accruing.

Deferred interest options are also available on mortgages, known as a deferred interest mortgage or a graduated-payment mortgage.

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