Down Payment
Definition
The initial upfront portion of the total purchase price paid by the buyer from their own funds. For home loans, typically 10-25% of property value. For car loans, 10-30%. A higher down payment reduces EMI and total interest.
The initial upfront portion of the total purchase price paid by the buyer from their own funds. For home loans, typically 10-25% of property value. For car loans, 10-30%. A higher down payment reduces EMI and total interest.