Key Loan Terminology: Simple Guide for Beginners New Delhi
Free
- Location: Delhi, New Delhi, Delhi, India
Understanding key loan terminology is essential for anyone planning to take a loan. Terms like principal (the amount you borrow), interest rate (the extra cost you pay to the lender), EMI (your fixed monthly payment), tenure (the loan repayment period), and credit score (a number that reflects your creditworthiness) are commonly used in the loan process. Knowing these basic terms helps you make informed financial decisions, compare loan options more easily, and avoid confusion or unexpected charges during repayment.
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