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Maximum loan amount

In the realm of finance, the term 'maximum amount financed' refers to the highest sum of money that can be borrowed through a financing scheme. This amount is typically expressed as either a fixed numerical value or a percentage of the asset's overall worth. It is important to carefully consider this figure when making financial decisions, as it can greatly impact the overall cost and feasibility of a particular venture. As knowledgeable individuals in the field of finance, it is crucial to have a thorough understanding of this concept and its implications.

EMI

An important concept in finance is the Equated Monthly Installment (EMI), which refers to the amount of money paid by a borrower each month towards the repayment of a loan. ...

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Annual Rest

One commonly used approach for determining EMI involves allocating funds towards interest and principal at the conclusion of each fiscal year. This method takes into account...

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Sale Agreement

A sale agreement is a legally binding contract between parties that outlines the terms for dealing with a property. It grants the right to obtain a sale deed which specifies...

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Close Relatives

In accordance with section 6 of the Companies Act, the definition of a close relative who can serve as a guarantor includes a wide range of family members such as parents, c...

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