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Both options have their advantages and can impact your financial health differently. Lowering the EMI can improve monthly cash flow, while reducing the tenure helps you become debt-free faster and ...
An EMI calculator is a simple tool that enables you to simulate ... your repayment obligations without straining your budget or sacrificing long-term financial health. (Disclaimer: No Times Now ...
PNB has reduced the Repo Linked Lending Rate (RLLR) from 9.25% to 9% effective from February 10, 2025. These announcements came after the Reserve Bank of India cut the repo rates by 25 basis points ...
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The best example to prepare is having enough emergency corpus (ideally around 6-24 months of your monthly expenses including the EMI part also). This is with respect to the economy or slowdown in your ...
With CPI inflation showing signs of moderation and government measures aimed at boosting consumption, a rate cut could provide much-needed relief to borrowers and stimulate economic activity ...
With the 25 basis points rate cut, your interest rate would drop to 8.25%. Here’s how that impacts your monthly EMI: Old EMI (at 8.5%): Rs 43,059 New EMI (at 8.25%): Rs 42,452 So, you save about Rs ...
Mathematically, EMI can be calculated using the following ... It provides lenders a snapshot of your credit health and history, and your willingness and ability to repay debts on time.
Interest Component: This is the cost of borrowing money, calculated as a percentage of the principal. In the beginning, a larger portion of your EMI goes towards paying interest rather than reducing ...