#banksscam

This

is

how

banks

fool

you

!!!!!!

#banksscam

#bank

#rbi

#govtofindia

#rbicircular

#flatinterestrate

#flatvsreducingrate

#financemanyu

#MyMoneyMyRules

#UjjivanSFB

#UjjivanSFB

This

is

how

banks

fool

you

!!!!!!

⏩Flat

Interest

Rate

means

a

lending

rate

that

stays

unchanged

through

the

loan

tenure.

The

interest

here

is

calculated

for

the

whole

loan

amount

at

the

beginning

of

the

loan

tenure.

⏩Reducing

Interest

Rate:

In

this

scenario,

the

personal

loan

interest

rate

is

determined

based

on

the

amount

of

principal

owed

at

the

end

of

a

certain

period.

As

previously

stated,

a

portion

of

each

EMI

paid

is

applied

to

the

principle,

while

the

remainder

is

applied

to

interest.

When

computing

interest,

the

next

computation

is

based

on

the

outstanding

principal

balance

rather

than

the

starting

principal

amount.

#banksscam

#bank

#rbi

#govtofindia

#rbicircular

#flatinterestrate

#flatvsreducingrate

#financemanyu