It depends upon bank to bank, so please check with your bank. Interest rate normally calculated by using BPLR.
For e.g. Interest Rate = (BPLR - 1.25%)
If BPLR is 12.00% than interest rate for loan would be 10.75%.
*BPLR = Bank Prime Lending Rate
It depends upon bank to bank, so please check with your bank. Interest rate normally calculated by using BPLR.
For e.g. Interest Rate = (BPLR - 1.25%)
If BPLR is 12.00% than interest rate for loan would be 10.75%.
*BPLR = Bank Prime Lending Rate
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I am speaking from experience and my own personal views above - I am not an advisor, nor an expert.
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