Whether it can accepted or not? I seek answers
2007-02-25 21:45:32 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
9 % Flat Interest is too high. It is almost equal to 15 % reducing rate of interest. You will land up paying 90,000 Interest.
Also you have to pay monthly Rs 7083.00 as EMI.
2007-02-25 23:57:35 · answer #1 · answered by Munns 1 · 0⤊ 0⤋
The nine per cent flat is very high. It actually works out to somewhere around 18 per cent. If you think that you can earn more than 25 per cent on such investment then only it is viable proposition otherwise it is sure way of getting in a debt trap, especially you are raising the loan for consumption ( like marriage, travel abroad, medical treatment etc) where income is not generated.
Secondly, if you have a business that can give you good return you are entitled for a working capital finance at much cheaper rate and that interest rate is not a flat one!
2007-02-26 04:31:46 · answer #2 · answered by concerned citizen 2 · 0⤊ 0⤋
Is it a personal Loan?
The monthly installment should be around 6-7 thousand. If u can pay it, then go ahead.
2007-02-25 22:25:30 · answer #3 · answered by sweetie 3 · 0⤊ 0⤋
If you badly need the money then accept it but check the mode of repayment and whether you are capable to repay the debt.
2007-02-25 21:51:09 · answer #4 · answered by saumitra s 6 · 0⤊ 0⤋
i can give best anser to ur question, bcz i am highly in need of loan, even i was prepared to pay 12% intt, but loan was not provided, i suggest u, if you dont need loan let me avail same, otherwise provide me the address of loaner, i am extremely in need of same i will pay the said required interest.
2007-02-25 22:06:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
IF U R TAKING PERSONAL LOAN @9% FLAT I.E 20% REDUCING THEN RATE MAY BE OK ACCORDING TO YOUR PROFILE.IF IT IS HOME LOAN THEN U R PAYING HIGHER ROI.HOME LOAN IS AVAILABLE AT 9% REDUCING
2007-02-25 22:11:17 · answer #6 · answered by Diksha A 3 · 0⤊ 0⤋
Hope the following web page will be of some use to you:
http://www.investopedia.com/articles/retirement/06/10SecureRetirementTips.asp
2007-02-26 03:33:56 · answer #7 · answered by Anonymous · 0⤊ 0⤋
no,becoz it has got much interest
2007-02-25 23:27:14 · answer #8 · answered by PRASSANA K 3 · 0⤊ 0⤋