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How does tenure affect cost of loan?

By IndianMoney , 5 months ago

1. The longer the tenure of the loan, the lesser will be your monthly EMI and shorter tenures mean greater EMI burden then, your loan is repaid faster. 2. If you have a short-term cash flow mismatch, your bank may increase the tenure of the loan, and your EMI burden comes down. However, longer tenures mean payment of larger interest towards the loan and make it more expensive.

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