EMI this is one abbrev i am scared of and more specifically when it is your home loan. First the bank reps will coax you into getting a floating ROI and then it will be too late till you realize that you cannot float anymore. Started with 11K as an EMI and as per the latest news will be paying 14K and all this in a years span. Worst part of the calc, a 14 lac loan will fetch the bank a wopping 26 lac interest by the end of 20 yr err sorry 23 yrs, the tenure has been increased with the rise in the ROI. Can the govt intervene and stop this loot lo attitude of HFC. GOD SAVE ME.
