I also have a car loan taken at 8.5% interest and pay an EMI of ₹13,000. Besides, I also have availed of a jumbo loan (one that is bigger than the regular limit and has strict credit requirements) with an EMI of ₹12,000 at 16% interest. The outstanding principal for the car loan is ₹5.5 lakh and needs to be repaid in four years, and the jumbo loan has an outstanding principal of ₹4 lakh that has to be repaid in three years.
This story is from the June 20, 2023 edition of Mint Mumbai.
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This story is from the June 20, 2023 edition of Mint Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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