Understand ‘rest’ periods when choosing home loan offers

by Paul Joseph on February 10, 2013 · 0 comments

Financial institutions have various parameters surrounding the loan amount detailing the manner in which the loan is repaid. One such parameter is ‘rest’. This is the regular interval at which the loan amount balance is recalculated and also refers to the periodicity of compounding. This can be possible only in the case of reducing balance loan amounts. A rest can be yearly, monthly or even daily. Choosing your loan offer Gayatri approached a bank and chose a loan that offered an annualised rate of 12.75 per cent for a loan amount of Rs 20 lakh for 20 years, while her sister Sanjana had shortlisted among several loans, one that offered

[via India Properties – Real Estate India – Indian Property News Site]

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