in Guide for All the Investors
Sat Jan 19, 2013 9:26 pm
• 5 Posts
*Source: IL&FS Note: This is a sample list with no indication of a complete list of all the players in the field of Banking & Finance.
Most of the banks and HFCs follow the daily or monthly reducing-balance method, by which the principal on which you pay interest reduces every month as you pay your EMI, resulting in a lower interest burden. Thereby, the EMI for the monthly reducing system is effectively lesser than the yearly reducing system of calculating interest.