Reduction of Interest On Unsecured Loans

Can we reduce interest on unsecured loans standing in our books ?
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Quick Summary
It is possible to reduce the interest charged on unsecured loans, provided your company's accounts have not yet been finalised. If you've booked excess interest during the financial year, you can make adjustments before closing the books to correct this.

If your accounts are not finalised,then yes you can reduce interest amount

Hi Rahul, yes, you can reduce interest before closing of books if excess interest booked during the year.

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