Question

Who do you contact if youve already accepted more loan money than you need?.

Answer 1

Answer:

You should contact the lender so you can return the leftover loan, reducing the amount that you owe.

Answer 2

If we have already accepted more loan money than what we need in that situation we can do two things:

1. We can contact to our lender and can explain that we have taken more loan as we required so you can take the amount and can decrease our emi and rate of interest.    
2. Secondly, we can lend that more loan amount money to different person on more rate of interest and we can earn some profit in between.

What is rate of interest?

The amount of money or the percentage according to which the lender charge the money from the borrower is called rate of interest.

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