POSTED BY October 22, 2012 1:53 pm COMMENTS (4)ON
how the EMI (Prinicpal+Interest) is calculated in Construction Linked Plan. ANy one ?
I wish to know how the EMI (Prinicpal+Interest) is calculated in Construction Linked Plan of SBI Maxgain.
I have booked a flat in Pune, the cost of the flat including evertyhing (basic cost + stamp duty + registration + vat + service tax) comes to around
56 Lacs (56,001,65 to be exact).
I have already paid around 20% of the agreement amount to the builder around 11.3 lacs.
I am planning to take a SBI loan of 44.7 lacs
with a ROI of 10.15% , my EMI comes to 43.5 K
The flat is under construction and the posession will be given by the builder in Jan 2014 (but as expected the possesion may delay by 4-6 months)
Construction is nearly 40% complete and the builder says, he will raise a demand code as and when required to SBI and get the payment.
I assume, the full disbursement of the loan will happen in the next 12-14 months
I plan to go for full EMI (43.5K) payment, right from day one
My question is
1) which is beneficial Full EMI or pre-EMI ?
2) in case of Full EMI, what would be the principal+interest component out of the 43.5 K EMI
If I can get an excel sheet with some calculations, I can tweak it later for my benefit
thanks in advance