All you need to know about ‘interest-only’ home loans
Borrowers of Standard Chartered with a home loan ticket size of ₹35 lakh to ₹3.5 crore can choose to pay only the interest amount via equated monthly installments (EMIs) for an initial period of 1–3 years
Recently, Standard Chartered Bank launched an interest-only home loan facility for its existing as well as new home loan customers on the purchase of completed residential properties. An interest-only home loan is a facility in which the borrower pays only the interest accrued on the principal outstanding for a limited period of the loan tenure. That period is referred to as the ‘interest-only period’. No principal amount will be deducted during this period.