Loans
The real cost of a loan, beyond the EMI
Interest rate type, tenure, processing charges and prepayment terms all affect total outgo.
The EMI is only one part of a loan's cost. Total interest paid depends on the rate, the tenure and how consistently the loan is serviced.
Compare the type of rate (floating or fixed), processing fees, documentation charges, insurance requirements and prepayment or foreclosure terms.
Lender approval, eligibility criteria, credit assessment and documentation requirements apply. Borrow an amount whose repayment fits comfortably within monthly cash flow.
This article is general educational information and not personalised investment, tax or legal advice. Eligibility, risks and product terms apply. Product suitability depends on individual circumstances.