Tenure
Definition
The duration or time period of a loan, typically measured in months or years. Longer tenure means lower EMI but higher total interest paid. Home loans can go up to 30 years; car loans typically 1-7 years.
The duration or time period of a loan, typically measured in months or years. Longer tenure means lower EMI but higher total interest paid. Home loans can go up to 30 years; car loans typically 1-7 years.