After taking the loan, you have to pay its EMI, which is basically the total sum of the principal payment and the monthly interest. Most of people’s salary goes towards travel expenses, rent and loan EMIs, so they don’t have money for anything else. In such a situation, a new type of loan called ‘EMI free loan’ can give you great relief.
Customers will get great benefit from this facility
EMI free loan will get relief
EMI-free loans do not require repayment of principal amount every month. In which you can pay the principal amount every three months, every six months as you have money. To take this loan, your monthly salary should be at least 30 thousand and you should be working in a limited or private limited or government company.
Advantages of EMI-Free Loans
1, the borrower has to pay only the interest amount every month and the principal amount every six months. If the borrower pays only the interest every month, then the burden on the pocket will be less as compared to a personal loan.
2, After taking the loan for six months, the borrower has the option to close the loan. After completion of six months of the loan, he does not have to pay any pre-closure charges.
3, This loan is received within 24 hours. The entire process is paperless and automated. There are no hidden charges or pre-payment charges.
4, In this way loans are given by some companies. In which the borrower gets the option to increase and decrease the principal amount.