Loan will be repayable
in Equated Monthly Instalments (EMI) comprising principal and interest. Interest is
calculated on monthly reducing balance method. The monthly instalment depends on quantum
of loan, interest rate applicable and the term of repayment of the loan. The sample of
various EMI's is given in the table below :
EMI FOR A LOAN OF Rs. 1,00,000/-
Years
11.50%
11.75%
12.00%
12.25%
05
1100*
2212
2225
2238
10
703*
1421
1435
1450
15
585*
1185
1201
1217
* EMI for Rs. 50,000/-
Repayment by way of EMI
commences from the month following the month in which the last intalment of the loan is
disbursed by the "HUDCO NIWAS". Until the loan is fully disbursed, pre-EMI
interest is payable only on the portion of the loan availed as on the last day of every
month.
Repayment of loan ahead of schedule will be acceptable without any charges/penalty.
