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Basis the Savings Account interest rate offered by the bank and the monthly balance you maintain, the amount is calculated. I.e. If the balance maintained in your Savings Account 20000/- and the rate offered by the bank is 3% per annum.
Learn how to manage Home Loan interest rate. A home loan is one of the most reliable financial tools for home buyers. It can make making a big purchase simpler and much more manageable. However, the home loan interest rate plays a significant role in this. Team FinFIRST 05 Nov 2022 • 3 mins read
Self-employed individuals who are eligible for a car loan. Minimum 18 years of age. Maximum 65 years of age at loan maturity. Minimum Net Annual Business income of Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others. Income eligibility based on latest Income Tax Returns. Minimum 3 years of employment in the same line of business.
While both loans are secured by an asset – the flat Raj is buying, or the property Harshal is pledging- banks tend to treat the loans differently and charge different interest rates. For example, for a home loan, the kind Raj is applying for, banks will charge interest as RBI’s Repo Rate plus spread. A Mortgage Loan or a LAP, the kind that
To opt for a home loan of up to Rs 30 lakh for salaried, the rate of interest offered by SBI is 7.40 per cent effective rate whereas Axis Bank offers its home loan at 8.10 per cent per annum
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