POSTED BY July 13, 2012 12:23 pm ONE COMMENTON
I am looking to work out a strategy for repaying my gold loans.I have two golad loans one at SBI(Rs 84000) and another at Union Bank (rs 50000) both for 7% interest in the interest subvention scheme(Interest may fall to 4% after subvention if re payed promptly). I am looking for a way to calculate the interest rate and replay the loan as EMI. Please suggest me a way to calculate emi and repayment schedule
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One reply on this article “Gold loan strategy”
Dear Biju, what prompted you to go for Gold loan? In case of regular EMI, what ‘ll be the impact for this 7% & 4% thing? Please check it out with bank itself.