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Repayment The act of paying back the borrowed money to the lender is known as Repayment. Repayment is usually done in the form of periodic payments and each payment goes in favor of principal plus interest. Default in the repayments of the loan during the tenure due to any reason can cause an adverse effect …
The Banks/ NBFC’s fund for our lifetime dreams of owning a house. The immense pleasure of fulfilling our dreams comes with a responsibility of repaying the same in the next few years without any default. Any defaults in the repayment of loan can lead your credit score in bad shape and further stop you to …
It is important to check while finalizing the Bank/NBFC who is giving an affordable interest rate as per the requirement of the borrower. One has to be cautious in not only understanding the EMI amount but also the mode of its calculation. EMI can be calculated by Fixed Rate Method, Floating Rate Method and Reducing …
A long time dream – an owned house. This dream can easily be fulfilled with the help of a Home Loan. A loan can be applied for various reasons depending on the personal needs of an individual. An applied loan amount may not be sufficient to buy the dream house. The loan amount completely depends …
The reference rate is a benchmark upon which interest rates for financial operations are set. On the basis of reference rates banks and financial institutions decided their lending rates for different financial products considering the credit worthiness of the customer. The reference rates differ for every bank and financial institution and is directly relative to the repo rate which …