https://www.taxtmi.com/news?id=61360 Home loan interest depends on the contractual rate and the lender's interest calculation method. The daily reducing balance method recalculates interest every day so prepayments reduce interest from the next day, producing greater savings; the monthly reducing balance method recalculates once a month so mid month prepayments do not lower interest until the next calculation. Borrowers should compare nominal rates together with calculation basis and all charges to determine the effective cost of borrowing. en-us Wed, 12 Nov 2025 15:01:03 +0530 Wed, 12 Nov 2025 15:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=61360 Home loan interest depends on the contractual rate and the lender's interest calculation method. The daily reducing balance method recalculates interest every day so prepayments reduce interest from the next day, producing greater savings; the monthly reducing balance method recalculates once a month so mid month prepayments do not lower interest until the next calculation. Borrowers should compare nominal rates together with calculation basis and all charges to determine the effective cost of borrowing. News - Wed, 12 Nov 2025 15:01:03 +0530 https://www.taxtmi.com/news?id=61360