I AM A GOVERNMENT SERVANT I HAVE TAKEN A LOAN OF HOUSE BUILDING ADVANCE OF RS 312500/- IN THE YEAR 2003. THE AMOUNT OF PRINCIPAL IS DEDUCTED FIRST AND THEREAFTER THE AMOUNT OF INTEREST IS CALCULATED AND DEDUCTED. IN SUCH CASE HOW ACCURED INTEREST IN CALCULATED KINDLY GUIDE ME.
1 Answers
I would depend on whether loan is on whether loan is on monthly reducing balance or any other.
You can get yearly interest statement from lender to see interest computation.
Related
Please don't use all capital letters for question. This would make sure your questions are not answered in future.