- Reducing interest rate ?
Yes and no. They will tell interest percentage as per fixed interest rate when comparing with banks reducing interest rate.
Its not done yet. In actual, they will form EMI, just like in reducing interest rate such that interest is not equally distributed over the tenure.
To give an example - if they say their interest rate is 9% (fixed) as compared to banks which will charge 11-12% (reducing).
In actual it will translate to around 18% reducing interest rate
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