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ethan chapman

United Kingdom


Member since April 19, 2013

  • Newscenter_-_springhill_group_home_loans_korea_reviews_177_

    Almost every financial institute in India offers home loans and the same makes it easier for an individual to aim for the ownership of a property/home. While opting for a home loan, it is very important for an individual to understand the terms and various parameters of the loan that are applicable.

    To have clarity about home loans, it is essential for one to understand the concept of a "rest". A rest is the interval at which the balance of the loan amount is recalculated. It is applicable in the cases of reducing balance loan amounts. The rest can be yearly, monthly or daily. A brief description is as follows:

    Annual rest: During an annual rest, although one pays the EMIs, the loan amount based on which the interest is paid is recalculated at the end of the 12 months only. Therefore, one ends up paying interest on the same loan amount, even when the outstanding loan amount reduces each month.

    Monthly rest: Unlike annual rest, during monthly rest, the remaining amount of home loan is calculated each month. The balance amount decreases every month. The customer has the advantage because the rest matches the frequency of the user’s loan repayment

    Daily rest: Generally, salaried employees do not choice this option. It is more convenient self employed people who receive income at irregular intervals.

    Make sure that you understand all the terms and conditions of the home loan documents before signing the dotted line.

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My Interests

  • Industrial Design
  • Environmental Design
  • Communication Design
  • Fashion Design
  • Audio/Visual Design