Best loan rules - Finance
Car loan rule 20/4/10 You should be able to pay 20% of the on-road price as the down payment. The loan tenure should be for a maximum of four years. The equated monthly instalment (EMI) should not be more than 10% of the monthly income if an individual earns Rs 10 lakh per annum, the ideal budget for the vehicle would be Rs. 5 lakhs. Home rule 3/20/30/40 3 times salary 20 years loan 30% of the income emi 40% savings 24/