I took a loan of 13 Lakhs from Bank of India on 10 Dec 2012.I have few questions to ask. Loan was sanctioned for 13 Lakhs with loan term 20 years at 10.5% .When I calulculate the installment it comes as 12979 INR per month.However on the sanction letter it is mentioned 13078 /- . I wanted to understand why there is difference in the EMI amount. My second question is on the loan term. It is 20 years and on the sanction letter it is mentioned 234 installments instead of 240 (12*20) . The third question is on the moratarium period. On 31st December 2012 about seven thousand was debited from my account and upon asking them I was told its the interest i have to pay during the moratorium period which is until July 2013. Is there a way i can avoid interest as iam ready to pay the EMI starting Jan 2013. Please help me understand . Thanks a lot for your time.