2. Flexible Loan Installment Plan

Flexible loan installment plan is also known as a step-down repayment facility. In this plan the EMIs amount decreases with the passing years, which means that in the early years you will be asked to pay a higher installments and which will reduce in the later years. It is advisable to choose this plan when you are approaching your retirement; so that you can clear off the higher EMIs amounts when you are still employed and later when your earnings will decrease you would be left with only smaller EMIs to be paid.

3. Tranche Based EMI

You can avail a Tranche based EMI plan for purchasing an under construction property. This option will allow you to fix the installments amount you wish to pay till the property is ready. When you pay the installment, it would be first used for covering the minimum amount of interest charged on credit drawn and the remaining amount would be adjusted towards the repayment of the principal amount.