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View Full Version : What are - Daily Reducing, Monthly Reducing and Yearly Reducing, interest on home loans?



anurag
20-12-2010, 04:40 PM
What are - Daily Reducing, Monthly Reducing and Yearly Reducing, interest on home loans?

VarunD
20-12-2010, 08:48 PM
What are - Daily Reducing, Monthly Reducing and Yearly Reducing, interest on home loans?
Annual reducing The principal, for which you pay interest, reduces at the end of the year.
Monthly reducing The principal, for which you pay interest, reduces every month.
Daily Reducing The principal, for which you pay interest, reduces every day.

Sandeep
26-08-2011, 03:39 PM
In India I think, we have only option of Monthly reducing and Annual reducing for individual, Daily Reducing is for corporates.