Dear Manish
I have taken a loan of Rs 49,40,000 against property @12% PA.for 10 years from City Bank.
PPRR:14%
Rate:12%
Annual fee:Nil
EMI:71,184 for 119 months starts from 1st Dec 2012.Last EMI on 1st Oct 2022.
Rs.3295 charged on 1st Nov 2012.
Prepayment up to 25% of loan every year.
I want to know the diff between PPRR (14%) and Base Rate(9.75%) shown by City Bank.
Are PPRR & Base Rate changes (Varies) at same proportionate?
Is PPRR suitable?