What is the principal amount?

The principal amount is the original loan amount you have taken out or would like to take out. It is crucial for flat and reducing interest rate calculations.

Flat Vs Reducing Interest Rate: Which is easier to calculate?

Flat interest rate is much easier to calculate than the reducing interest rate.

Which is better: reducing interest rate or flat rate?

Generally, Reducing the interest rate is more profitable than flat rates for borrowers as it decreases with repayment of the original amount.

What is the minimum loan amount I can add in Munim Reducing Interest Rate calculator?

1000Rs is the minimum loan amount to be added in reducing interest rate calculator.

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