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Reserve Bank of India (RBI) would bring in greater transparency in the resetting of the interest rate on equated monthly installments (EMI) for floating-interest loans. A floating interest rate is a rate that varies or changes along with the changing market conditions as opposed to a fixed interest rate which remains the same for the entire tenure of the loan. The new framework will allow borrowers to switch to fixed interest rates from floating interest rates. This would provide relief to borrowers of home, auto, and other loans reeling under the impact of high interest rates.The framework will require Regulated Entities to (i) clearly communicate with borrowers for resetting the tenor and/or EMI; (ii) provide options for switching to fixed-rate loans or foreclosure of loans; (iii) disclose various charges incidental to the exercise of the options; and (iv) ensure proper communication of key information to borrowers. At present, loan seekers can switch from floating and fixed interest rates and vice versa but have to pay a nominal conversion fee. The fee varies between 0.50 percent to 2 percent of the total home loan amount.
1 packet of biscuits costs Rs 16 but a pack of 4 of the same packet of biscuits costs Rs 56. What is the effective discount (in %) on the pack?
If the shopkeeper sells an item at Rs 1000 which is marked as Rs 1250, then what is the discount he is offering?
Successive discounts of 18% and 22% are equal to a single discount of ______.
The list price of an article is Rs.240 and a customer buys it for Rs.120 after two successive discounts. If the first discount is 20% then find the othe...
The marked price of a pen and pencil are in the ratio of 5:6. The shopkeeper gives 20% discount on th pen. If the total discount on both the pen and the...
A shopkeeper offers the following two discount schemes.
A) Two successive discounts of 12% and 18%
B) Buy 6 get 3 free.
Which schem...
A shopkeeper allows a discount of 12% to his customers and still gains 18%. Find the marked price of an article which costs Rs.528 to the shopkeeper. (A...
The selling price of an article is Rs 816 if the discount on it is 15%. What would be the selling price of the article (in Rs) if the discount on it is...
A discount of 20% on the price of an article is the same as a discount of 25% on the price of another article. The prices of the two articles will be, ...
Rohan purchased an item for which there was a 13.5% discount offered on the part of the payment made in cash and a 6.25% surcharge on the part of the p...
