Flat Low Intrest Rate
When availing a home loan among the many decisions to make, the hardest is probably deciding the type of intrest rate that you should choose. First let us learn about the different types of interest rates offered by the financial institutions: Fixed rate of interest: In this case the rate of interest …
loan amount 5,10,000
38250*5=191250 (total interest)
510000+191250=701250(total amount to pay)
701250/60=11687.5 (but finance executive mentioned 12,200)
3000 stamp duty, 5,100 processing fees.
interest 7.5% equal to 15.2 of diminishing.
Total amount interest + principle