Sentences with phrase «longer loan tenure»
Due to floating interest rates being the norm for high value loans, customers may still retain their original EMIs but might end up with a much longer loan tenure.
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Home loans are long tenure loans and the interest you pay on them is much higher than your principal amount borrowed.
If the payment of the EMI is not affordable then it is best to apply for Balance Transfer of your personal loan for a longer tenure.
Considering the story of Swaroop who has a good repayment track record, availing a top - up loan may work out to be the best option with long term benefits like the lower rate of interest, longer tenure, and EMIs without having to mortgage a new property.
Having positive credit score, by paying credit card bills within bill period and choosing the longer tenure loan up to 60 months would improves the eligibility factor for attaining personal loans from Axis bank.
He gets the benefit of longer repayment tenure with a top up loan.
How long you will be in the loan is not only affected by the tenure that you own the home, but also the probability of seeking a refinance at some point in the future.
If you take fixed monthly payments, referred to as «life tenure» payments, they will continue as long as you live in the home, even if the balance due grows beyond the initial principal limit on the loan.