Wed, Nov 06, 2024
Home Loan Calculator: When we take a home loan for a long duration, every percentage point in its interest rate plays a key role as a slightly lower interest rate can help one save lakhs of rupees in the long run.
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Mon, Oct 14, 2024
Home Loan Calculation: On a long-duration home loan, a borrower may end up paying higher interest amount compared to the principal amount. The borrower can reduce interest by making 1 additional equated monthly instalment (EMI) every year.
Fri, Oct 11, 2024
Home loan EMI+SIP Investment: For a Rs 60 lakh, 30-year home loan for 25 years, the estimated EMI will be Rs 52,422, estimated interest will be Rs 97,26,540, and the repayment amount will be Rs 1,57,26,540.
Thu, Oct 03, 2024
25-year Home Loan EMI vs 10-year Mutual Fund SIP: Because of the high cost of real estate in India, the majority of home buyers depends on home loans. Since such loans are taken for a long duration, the repayment amount is quite high.
Mon, Sep 16, 2024
Home Loan Interest Calculator: Because of long duration, home loan borrower ends up paying higher interest than the principal amount. Borrowers set their equated monthly instalment as per their repayment capacity. According to that, they set their loan duration. E.g. if they want to keep it lower, they will take the loan for a long duration, but if they want to finish their loan in fewer years, they go for a higher EMI.
Thu, Aug 22, 2024
Home Loan Calculator: If you take a Rs 75 lakh home loan for 20 years at 9.50 per cent annual interest rate, your estimated equated monthly instalment (EMI) will be Rs 69,910, the estimated interest will be Rs 92,78,361, and the estimated repayment amount will be Rs 1,67,78,361.
Mon, Aug 19, 2024
Home Loan Calculator: Since we take a home loan for a long duration, there is a high likelihood that we are paying a higher interest amount than the principal. In the initial years, the interest amount you pay is much higher than the principal.
Tue, Aug 13, 2024
Home Loan vs Mutual Fund SIP: If you are taking a Rs 80 lakh home loan at a 9 per cent interest rate for 25 years, your estimated EMI will be Rs 67,136; the interest amount on this loan will be Rs 1,21,49,713. So, the total repayment amount will be Rs 2,01,40,713.
Tue, May 28, 2024
Home loans are for a long duration, and because of that, one pays huge interest along with the principal amount as repayment. E.g., if you take a Rs 50 lakh loan for 20 years at an annual interest rate of 8.50 per cent, your interest in that duration will be Rs 54,13,879.
Mon, May 06, 2024
SBI Home Loan EMI Calculation: If you want to take a home loan of Rs 30 lakh for 20 years from State Bank of India (SBI), then know from the calculation that what will be your monthly equated instalment (EMI) and how much interest you will have to pay during your loan tenure.
Tue, Apr 30, 2024
When you repay a high amount, long duration home loan, the interest you pay can be higher than your principal amount. You can repay your loan early and save a significant amount if you increase the amount of your EMI or run a systematic investment plan (SIP) along with your loan. Know which of the option among two can help you save more money and time.
City Union Bank, Union Bank of India, Bank of Maharashtra, and LIC Housing Finance are offering the most affordable entry-level home loans.
Fri, Apr 26, 2024
Home loans are most likely large amount. Specially in Tier-1 cities; they can exceed the Rs 1 crore mark. When you take a large home loan for a long period of time, you end up paying more in interest than the principal amount. E.g., if you take a Rs 1 crore loan at an 8.50 per cent annual interest rate for 20 years, your interest in those years will be over Rs 1.083 crore, or Rs 8.23 lakh more than your principal amount.
Fri, Oct 06, 2023
Festive Season: Now the festive season is starting from the month of October, so how can we take advantage of the festive season offers in this season, and what is the right time to take a home loan?
Mon, Aug 07, 2023
If you want to refinance the home loan, it’s important to take note of the prevailing financial conditions and the ability to repay the new loan. Borrowers need to take a look at the balance transfer process including any hidden fees or charges before they opt for refinancing their home loan.
Sun, Jun 04, 2023
Owning a home is a major goal in life for a lot of us, but factors like high real estate prices and high-interest rates on home loans can make it very difficult. So, if you’ve taken a home loan or are planning to take one, then here are some tips on how you can reduce your home loan EMIs and save money.
Wed, Sep 21, 2022
Home Loan Balance Transfer: If your existing home loan carries a higher rate of interest, you can easily switch lenders. For this, you have to opt for home loan balance transfer option.
Wed, Jun 08, 2022
The Reserve Bank of India (RBI) on Wednesday hiked key repo rate by 50 basis points (bps) to 4.90% in a bid to tame the scoring inflation in the country. this is the 2nd straight hike by central bank in 2 months and is expected to hike borrowing costs for corporates and individuals. here know what is Repo Rate.
Thu, Feb 03, 2022
Taking a home loan is a long-term commitment. In this video, we shed light on important points that you must keep in mind before applying for a home loan.
Mon, Jul 08, 2019
By increasing the deduction limit on housing, Modi government has made home loans attractive, EMIs cheaper for common man.
Wed, Jul 03, 2019
The Union Budget 2019 is set to be announced this week on July 05, by Finance Minister Nirmala Sitharaman.
Tue, Jul 02, 2019
SBI already gives the cheapest home loan among major banks, making EMIs cheaper for customers.
Wed, Jun 19, 2019
Now, opting for home loan has become better and attractive than ever.
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