Study Abroad Loans: Understanding Loan Repayment and How it Works in 2023

Here are details of Loan Reapyment methods in India

LOAN REPAYMENT It refers to the act of settling borrowed amount with the interest amount.

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LOAN REPAYMENT OPTIONS 1. EMI 2. Bullet Repayment 3. Balloon Repayment

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1. EMI Borrowers repay a fixed amount every month, which includes both the principal amount and the interest.

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2. BULLET REPAYMENT Borrower pays back the entire principal amount at the end of the loan tenure, along with the interest

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2. BALLOON REPAYMENT Borrowers make small regular payments throughout the loan tenure, and at the end, they pay a large lump sum

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