The Infonavit credit It is a benefit that workers have to be able to get a paid home; However, the deadlines can be very long although there is a way to settle faster, it is the payment to capital.
Basically, the payment to capital is to advance money so that the debt decreases. Infonavit explained that when you make a payment, it is divided into three parts: Payment of Capital, Interest and Insurance.
- Capital: amount of your credit without regard to interest, no commissions. With your monthly payment You cover a part of this amount.
- Interests: It is the amount that results from multiplying the capital of your interest rate credit determined in your contract. With your monthly payment you cover the interest for the month.
- Insurance: Amount that you must cover so that you receive the benefits of the insurance of your credit. With your monthly payment you cover these insurances.
Please note that at the beginning of the credit will be paid more interestbut towards the end most of it will go to the capital, so if you want to finish earlier what you will have to do are additional payments.
With the advance payments Each monthly payment will be paid credit in less time and there will be fewer interests. Furthermore, it is recommended to consult the “Amortization table” where you can check the best time to overtake Paymentsbut it is recommended to do it when the credit.
There are other ways to advance payments. If you credit It’s in Times Minimum Wage (VSM) you can make the respective direct payments to your debt, not to whats interests.
Besides, Infonavit If you contracted your loan after May 21, 2021, the employer contribution of 5 percent goes directly to the payment of the capital of your loan or the monthly payments pending, if you have them. Furthermore, if you lose your employment relationship, you continue paying the same amount that your boss deducted from you.
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You can do all this directly at a banking institution, through electronic transfer or through the Infonavit page.