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 Loan 90% or less. Max tenure or less ?

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mini orchard
post Mar 29 2022, 05:34 PM

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QUOTE(Justice League @ Mar 29 2022, 04:03 PM)
I had always heard people advise is to take max loan with max tenure .. but wouldnt it be a lot of interest we are paying if paying monthly installment based on the calculated monthly payment ? or the reason behind this is due to the fact that must take Full Flexi laon where all extra money is parked into the CA account so that the daily interest calculation will minus out the principle from the total amount we had in the CA account ?
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Yes

A shorter tenure means paying more on principal monthly and thus reducing the interest charge on the outstanding principal.

 

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