What is an EMI?

What is an EMI? An Equated Monthly Installment (EMI) is usually a fixed amount of money that you need to pay your bank or lender every month as repayment of a loan taken, until your loan is totally repaid. It is essentially made up of two parts, the principal amount and the interest on the… Read More »

Breaking the Teaser Loan Mystery

The Teaser Loan Mystery??? The term used to describe housing loans that carry ultra-low fixed rates in the initial years, but charge market-linked rates thereafter. Normally, Most NBFCs and banks offer home loans at floating interest rates. The interest rate on the loan is at a ‘spread’ over the lender’s base rate. As the base… Read More »