EMI CALCULATION WITH INTEREST COMPOUNDED 1/2 YRLY.

Calculating interest only on  principle amount  is a good idea. It would attract people to take loan. It would be beneficial for the buyer.

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madison-9

You mean Simple Rate of Interest.  Well, that's totally out.  Though borrowers will welcome it - the banks can't afford it.  The present rate of Compound Interest is at present at least 12.50 - 13% p.a.