you are right.
bankers have different terms and ways. The actual interest the way we know it would become around 10%. They call the 4% as "lumpsum interest".
And the management fees are not hidden. Actually it is called "management fees & file openning fees or loan care fees"
Anyhow, the monthly instalment you have to pay is good compared to CBQ calculations which came out to be 991 per month. Check http://www.cbq.com.qa/vlc.aspx
Eventually, one have to do a simple calculation by finding out the net extra amount to be paid against loan compared to cash payment.
you are right.
bankers have different terms and ways. The actual interest the way we know it would become around 10%. They call the 4% as "lumpsum interest".
And the management fees are not hidden. Actually it is called "management fees & file openning fees or loan care fees"
Anyhow, the monthly instalment you have to pay is good compared to CBQ calculations which came out to be 991 per month. Check http://www.cbq.com.qa/vlc.aspx
Eventually, one have to do a simple calculation by finding out the net extra amount to be paid against loan compared to cash payment.