Frequently Asked Questions
Are the EMI calculations 100% accurate?
Our calculators use standard banking formulas. Final EMI may vary slightly depending on your bank's rounding rules and exact disbursement date.
How is Effective Annual Rate different from the stated rate?
The effective rate includes upfront costs like processing fees. A 10% rate with a 2% processing fee increases your actual borrowing cost.
What does Pre-EMI mean in a home loan?
For under-construction properties, banks disburse loans in parts. You pay simple interest (Pre-EMI) only on the disbursed amount until completion.
Can I prepay my personal loan?
Yes, but most banks charge a foreclosure penalty (2% to 6%) on the outstanding principal if paid before tenure ends.
Are SIP returns guaranteed?
No. SIP invests in market-linked mutual funds, so actual returns vary. Calculators use an assumed return for estimation only.
How is GST split into CGST and SGST?
For intra-state transactions, GST is divided equally — half goes to the Central government (CGST) and half to the State (SGST).
Is income up to ₹7 lakh tax-free?
Under the New Tax Regime, the Section 87A rebate makes taxable income up to ₹7 lakh effectively tax-free.
What is the maximum LTV for a gold loan?
RBI restricts the maximum Loan-to-Value ratio for gold loans to 75% of the gold value.
Do I need to pay RTO and insurance upfront for a vehicle loan?
Vehicle loans usually cover the ex-showroom price. RTO registration and first-year insurance are typically paid from your down payment.
What is the moratorium period in an education loan?
A holiday period (course duration plus 6 months) without EMIs. Simple interest still accrues and is added to your loan if unpaid.