One more thingh should be known before borrowing as to what happens when a EMI cheque is bounced on presentation? What actions and cost follow?
Many bank not only charge exorbitant amounts as "cost" but also resort to unethical practice of sending recovering agents who indulge in unlawful and unethical practice to ensure recovery?
This is done by some of the Pvt. Banks and NBFCs. Nationalised Banks are quite reasonable in this regard.
