I think he is wrong here. In the initial years of loan, all the amount collected from EMI will be around 90% as interest + 10% as Principal Ex: If EMI is 1 lakh per month, then in that 90,000 will be encashed by the bank as interest and 10,000 will be deducted in the total principal amount payable. This interest percentage from EMI will keep decreasing over the years of the loan payment.
U missed one point . If principal amount reduced automatically intrest also reduced .
I think he is wrong here.
In the initial years of loan, all the amount collected from EMI will be around 90% as interest + 10% as Principal
Ex: If EMI is 1 lakh per month, then in that 90,000 will be encashed by the bank as interest and 10,000 will be deducted in the total principal amount payable.
This interest percentage from EMI will keep decreasing over the years of the loan payment.
good
❤
హోమ్ వెస్ట్ రెంట్ బెటర్. డబల్ లోస్. గోల్డ్ కొనుక్కుంటే అదే డబ్బుతో. గోల్డ్ లోన్ తీసుకొని ఇళ్లు కొనుక్కోవచ్చు. కటేకొద్ది తగ్గిద్ధి
❤