Interest rates are of two types fixed flat rates or reducing balance rates, in flat interest rate we calculate interest in such a way that the outstanding loan amount is not reduced during entire loan tenure. where as in case of reducing balance interest rates the EMI is calculated on the basis of daily, monthly, quarterly or annually.
Interest rates are of two
ketan100 2 years 40 weeks 2 days 15 hours ago
Interest rates are of two types fixed flat rates or reducing balance rates, in flat interest rate we calculate interest in such a way that the outstanding loan amount is not reduced during entire loan tenure. where as in case of reducing balance interest rates the EMI is calculated on the basis of daily, monthly, quarterly or annually.