What mode do I use to repay the EMI?
There are quite a few options for you to repay the EMI. The normal practice is to provide your bank with post dated cheques (PDCs) for the entire repayment period at the time the loan is sanctioned. You can also make ECS (Electronic Clearing Service) payments, which will enable the bank to debit your bank account at a particular date every month towards your EMI payments. Another option is to take the installment directly from you salary where an agreement has to be made between the bank and the employer.
