Financer Interview Questions and Answers

EMI and down payment for 144000=12/4 scheme

• EMI is the Equated Monthly Installment that needs to be paid every month

• Down payment is the initial amount paid upfront before availing the scheme

• In this scheme, the total amount is 144000 and it is divided into 12 equal installments over 4 years

• To calculate EMI, we need to know the interest rate and tenure of the loan

• Without this information, we cannot calculate EMI or down payment