Dear Manish,
I have taken loan from a private bank in the year 2006 @ 9.5 and EMI calculated was 15147.00 for 180 months,but when i have calculated as per the method you have mentioned, it comes out to be 14408.And now the interest rate has been raised to 14.75 and tenure to 517 Months. We have not received any intimation on anything. I am very much confused and stressed, what will happen. This way my next gen will also be paying back this loan. I have paid 9 lacs and 13 lacs are still pending. Please suggest and advice me what to do?
Thanks in advance