Today news
About the same in other media
YOUR QUERIES: LOANS: For car loan, go for a floating rate loan as interest rates are declining now
Reading now: 379
By Chaitali Dutta
How is daily reducing balance in a car loan calculated? Should I opt for a fixed or floater loan for a car loan?By Bhupender Singh
In any daily reducing balance loan, the interest is applied on the day-end balance and aggregated for the whole month. Hence, the earlier you pay the EMI in the month, it will be slightly beneficial, by way of lower interest than as compared to paying the EMI towards the later part of the month. Interest component in a month of 31 days will be higher than, say, February, which has fewer days. Since currently we are in a declining rate period, it would be advisable to go for a floating rate loan.
For prepayment of a home loan, should I pay in bulk after accumulating for a few years or pay any
Read more on financialexpress.comAbout this in other media
Your queries: mutual funds: Put 70% of fixed income portfolio in high credit quality shorter-duration funds financialexpress.com /2 years ago
YOUR QUERIES: MUTUAL FUNDS: Go for gilt funds positioned around the medium-to-long term segment of the yield curve financialexpress.com /2 years ago
Andy Byford: ‘We can’t let London’s transport fall into managed decline’ theguardian.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
