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22-May Update — RBI has extended EMI moratorium on all term loans by another 3 months till 31-August-2020. The Reserve Bank of India had announced a 3-month EMI moratorium as a Covid-19 regulatory package in March 2020. In a previous post, we discussed if you should opt for such a moratorium. The crux was that, if… Continue Reading Outputs of the EMI Calculator Monthly EMI : The fixed amount you will pay every month, consisting of both principal and interest components. APR (Annual Percentage Rate): A comprehensive measure of the total cost of borrowing, including interest and processing fees. The calculated APR excludes GST applied on processing fees and interest. When you purchase an under-construction property, your bank may link the disbursal of home loan to the construction stages of the property. In such cases, you will either be asked to pay pre- EMI OR given an option to choose between pre- EMI and full EMI payments. What is Pre- EMI ? As you are probably aware, Equated Monthly… Continue Reading Looking for a short term loan to fund an emergency in the family? Among various ways to raise short term debt, a loan against your existing fixed deposit might just be one of the quickest. In this post, I will discuss loan eligibility, interest rate and pros and cons of such loans. We will also… Continue Reading
