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Dec 12, 2013 at 06:29 AM

Seperate Principal and Interest recovery for loans

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Dear Experts,

We have a requirement regarding Loans, the scenario is as follow:

Employee takes House Loan of 5,00,000 INR with Interest rate of 5.5% for 300 months.

Repayment:

Principal and Interest amount to be recovered separate.

First 240 months, only principal amount should be recovered in equal installments.

Remaining 60 months, accumulated Interest generated on principal amount should be recovered in equal installments.

(Accumulated Interest amount should be interest free).

Kindly suggest.

Thanks and Regards,

Bharath Chilu