For each and every cheque try old getting encashment to own a particular go out. Banking companies bucks the new cheques so they have the EMI payment on time. It is critical to make certain that the financial institution account off which money was debited to pay for financial EMI need to have enough fund having debit to take place. In case the cheque bounces and/or car-debit will not go through, there’ll be a delay during the payment which leads to punishment costs.
The new prolonged the loan tenure, the lower this new EMI and you can vice versa. Okumaya devam et “Regarding the blog post-dated cheque method, the house financing customer produces blog post-old cheques and you will give it out to the bank”