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What is Loan Details and Interest Rates about?

This document outlines the details of a loan including the loan amount of ₹150,000, a tenor of 10 years, and an interest rate of 10% per annum calculated on a flat basis. The equated monthly installment is ₹2,500 and the total interest payment over the tenor of the loan is ₹50,000, making the effective or diminishing balance interest rate 17.27%.

Author

Kamal Vadhar

Language

EN