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Quick_Money_loan » Think you're getting that auto loan cheap? - Sify- Topic: Quick Money On Interest

Think you're getting that auto loan cheap? - Sify- Topic: Quick Money On Interest

Published under Quick Money On Interest by admin.


So over a period of three years, or 36 months, you would have paid around Rs 76,200 (Rs 2,117 x 36) in total. That would mean an interest amount of Rs 16,200 (Rs 76,200 - Rs 60,000) that you pay over three years, or Rs 5,400 every year. Now, Rs 5,400 every year on a loan of Rs 60,000 would mean an interest of around 9% every year,” the agent explains. What’s more, the bank would in effect be lending only Rs 72,500 (Rs 75,000 - Rs 2,500). read more

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