Mon, Oct 28, 2024
Home Loan Calculator: With the price of real estate rising, borrowers are going for high amount loans. Since these loans are for long durations, borrowers pay a higher interest amount than the principal on them. But if one goes for a higher down payment initially, they can save a considerable amount on home loan interest.
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Fri, Oct 25, 2024
Bigger Home Loan EMI vs SIP Investment: When a borrower repays a home loan, they pay higher interest than the principal amount because such loans are of high amounts and have long durations. But if they go for a higher EMI, the interest amount can be reduced considerably. The other option to recover the interest paid is to have a mutual fund SIP investment.
Fri, Oct 18, 2024
Home Loan+SIP Calculator: Repaying a home and investing in a scheme are two different things. But while repaying the loan, if one runs a mutual fund SIP simultaneously, with a SIP worth just 11% of the EMI amount, they can recover the loan interest amount.
Thu, Oct 17, 2024
Home Loan Prepayment: Home loan prepayment is an effective strategy to reduce loan interest to a great extent. Even if one opts for a prepayment(s) equal to 10%-15% of their principal, they can cut down on their interest significantly.
Wed, Oct 16, 2024
Home Loan Calculator: If a borrower takes a home loan for a long time, it is highly likely that they pay more interest than the principal amount. If they take a Rs 60 lakh loan for 20 years at a 9.5 per cent interest rate, their estimated EMI will be Rs 55,928, the estimated interest will be Rs 74,22,689, and the estimated repayment will be Rs 1,34,22,689.
Mon, Sep 30, 2024
Home Loan Calculator: If 'A' and 'B' take a Rs 50 lakh home loan each at a 9.50 per cent interest rate for 20 and 30 years, 'A' will pay estimated interest of Rs 61,85,574 in 20 years, while 'B' will pay estimated interest of Rs 1,01,35,376 in 30 years. Borrowers can use prepayment, higher EMI, and extra EMI as some of the ways to reduce the home loan epayment amount.
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.
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.
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