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What is pre-EMI interest?

By IndianMoney , 8 months ago

1. Sometimes a loan is disbursed in installments, depending on the stages of completion of the housing project. 2. Pending final disbursement, you may be required to pay interest only on the portion of the loan disbursed. This interest called pre-EMI interest. 3. Pre-EMI interest is payable every month from the date of each disbursement until the date of commencement of EMI.

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