Daily Interest Vs Monthly Interest

POSTED BY somasekhararaom ON September 12, 2012 8:45 pm COMMENTS (2)

Dear Jagoinvestors,

 

Today i found out an interesting article in Firstpost.

http://www.firstpost.com/investing/why-daily-rest-is-better-than-monthly-rest-for-your-loan-452976.html

 

 

Based on my knowledge, I understand that daily interest is better thans monthly Interest. Am i right?

Do we have Daily Interest Calculations facility in Indian Banking System?

 

 

 

Below link is from Malasian country website.

Monthly Rest Vs. Daily Rest Interest Calculation

 

 

Thanks,

Sekhar

2 replies on this article “Daily Interest Vs Monthly Interest”

  1. somasekhararaom@gmail.com says:

    Dear Ashal,

    Thanks for the valuable Information.

    Thanks,
    Sekhar

  2. Dear Sekhar, Earlier i.e. some 10-12Y ago the loans were yly rest. Then came the mly rest & now almost all banks are offering loans on daily rest basis.

    So feel easy.

    Thanks

    Ashal

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