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What is the effective cost of a home loan?

April 26, 2017COST effective home loan

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What is the effective cost of a home loan?

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The interest paid is not the only cost attached to a home loan. Depending on the lender, in addition the loan may also demand a processing fee, stamp duty charges, registration charges, etc. Further, in case of late payment, prepayment, change in the repayment schedule (interest rate type, EMI date, etc.) additional account statements, etc. may also attract a charge.