POSTED BY April 29, 2013 6:29 pm COMMENTS (15)ON
I have taken SBI H L MAXGAIN AUG12 in march 2013. I have taken Rs. 28,95,000 and for 20 years with 9.95% interest rate.
But SBI has asked me to pay Rs 28,898 and rounded to 29000 EMI per month. but when I checked with different home loan calculator, for the above amount and duration with 9.95% rate of interest, it is coming around Rs 27,842.
I am just wondering why they have increased almost Rs 2000 per month for EMI.
Can you please help me understanding this EMI amount.