Best loan rules - Finance

Car loan rule 20/4/10

  1. You should be able to pay 20% of the on-road price as the down payment.
  2. The loan tenure should be for a maximum of four years.
  3. 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/

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