Hi,

Say I have purchased a under construction property of Rs. 30,00,000/- and:

1. Bank has disbursed first disbursement of Rs. 10,00,000/- to the builder.

2. I have opted for EMI on sanctioned amount Rs. 30,00,000/-. For example, EMI will be Rs.30,000/-.


I would like to know, how interest will be calculated, if one opts for EMI on sanctioned amount. Will it be calculated on:

1. Loan disbursed

2. Sanctioned loan


Thanks.
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