Hi Friends,
I need a loan of 12 Lakhs to buy a piece of land and want to pay it back within a short span of time (3-5 years). Please help me to choose the option between personal or home loan. I heard that interest on personal loan is not compounded however its compounded for home loan. Please rectify if I am wrong. Also please help me calculate the total outcome and monthly premium payment for both the options.
Thanks and regards,
SB.