Apr 13 2025, 10:11 AM
QUOTE(funnybone @ Feb 13 2025, 04:12 PM)
Understand about the BLR. But what I meant is for a semi flexi loan, I can gradually park money into the loan account but the interest would not change, only will reduce the monthly payment. That is what happening to one of my housing loan. Just seeking clarifications if the understanding is aligned.
This statement does not seem correct. If you correctly perform a payment for principal reduction, then your remaining outstanding loan should reduce and therefore the portion of your instalment charged for the interest should reduce .The monthly payment (or instalment) should remain the same. You are still obligated to pay your instalments on time.
Quote
0.0146sec
0.26
7 queries
GZIP Disabled