On point no.4,it is preferable to discuss with the bamk,the method of application of interest.Some nationalised banks are the best for the borrower,as they charge interest on daily reducing balance (applying interest so calculated every month)with adjusted rate of interest discounting the same for the difficulty of the customer as ROI is fixed on quarterly application basis.Also,most such banks don't charge pre-payment penalty.These provide the customer an option to pay back the loan with any lumpsum on hand.The EMI will remain same.Customer doesn't suffer stiff interest incidence.
What care should be consider while taking educational loan, especially if the parents are retired, is there any points that has to be noted before considering, also based on the importance of the future, how should it be projected
A private bank insists that, with a personal loan cover of Rs 1,00,000, insurance of Rs 285 must be deposited. So if you are in a financial crunch, the insurance company pays three EMIs to the bank. How this is possible? Is there a insurance company giving such cover pls inform me.
