Home loan EMI payments for under-construction properties typically begin after the project is completed or a certain period after loan disbursement, whichever comes first. During this period, which is commonly referred to as the moratorium period, only the interest on the disbursed loan amount is payable. Once the construction is finished, the borrower must begin paying the EMI, which includes both principal and interest, based on the loan tenure and interest rate agreed upon. The lender may also offer a pre-EMI payment option, in which only the interest on the disbursed loan amount is payable during the construction period, which can help reduce the overall loan burden.
