What are - Daily Reducing, Monthly Reducing and Yearly Reducing, interest on home loans?
What are - Daily Reducing, Monthly Reducing and Yearly Reducing, interest on home loans?Similar Threads:
- Can I apply for two home loans?
- Which should be more beneficial, pre - payment towards Home Loans or Personal Loans?
- LIC Revised (2012-13) interest rates for Policy Loans, Revival and Dating Back
- Which should be more beneficial, pre-payment towards Home Loans or Personal Loans?
- Minimum monthly take home salary for car loan?
Annual reducing The principal, for which you pay interest, reduces at the end of the year.Originally Posted by anurag
Monthly reducing The principal, for which you pay interest, reduces every month.
Daily Reducing The principal, for which you pay interest, reduces every day.
In India I think, we have only option of Monthly reducing and Annual reducing for individual, Daily Reducing is for corporates.
Reply With Quote
