What are the various charges associated with the loan?
There are few components to the charges of a loan. They are the interest rate, the one-time processing charge, the actual lien marking charges of registrars, and the other charges such as stamp duty, bank mandate charges, etc.
How can I repay the loan?
There are two options to repay the loan – EMI and Balloon repayment.
In the EMI repayment, you need to pay every month an amount which will be split in to interest and principal repayment. An EMI schedule will be shown to you during the loan process.
In the Balloon repayment process, you will pay the interest for the loan every month and you will pay the principal amount at the end of the loan period.