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PREPAYING LOAN EMIS
Thinking of prepaying your home loan? CA says why you might be doing it wrongChartered accountant Paaras Gangwal advises caution on home loan prepayments. He explains that early loan prepayments yield significant sav...- How a simple home loan EMI calculation before you apply can reduce your interest burdenA home loan EMI calculator is an invaluable tool for financial planning, allowing users to estimate monthly repayments, total interest, and...
- RBI holds repo rate, but for how long will relief for home loan borrowers continue?The RBI’s decision to keep the repo rate unchanged at 5.25% has provided relief to home loan borrowers, but rising inflation could trigger ...
- Rupee is falling: As an NRI, should you prepay your India home loan or keep the cash abroad?
- Paying home loan for 30 years? CA explains the hidden trap behind the home loans and the only way to beat itHomebuyers often overlook the true cost of 30-year home loans. Early EMIs primarily pay interest, not principal. Chartered Accountant Nitin...
- Understand loan eligibility before applying for a loan for doctorsMedical professionals can secure loans for practice expansion by understanding lender criteria. Key factors include qualifications, credit ...
- Rs 42,000 salary, Rs 3 lakh debt and 634 credit score: CA explains how a teacher built Rs 11 lakh wealth in just 4 yearsNitin Kaushik shared how a 34-year-old teacher transformed her finances despite earning Rs 42,000 monthly and carrying Rs 3 lakh debt at 18...
- 25-year-old earning ₹1L/month asked to take ₹92 lakh loan for parents’ property deal; family expects flat value to soar in 5 years; sparks debt trap concernsA 25-year-old earning ₹1 lakh a month has sparked debate online after revealing how his parents want him to become the primary borrower for...
- Man took Rs 45 lakh home loan in 2018 & cleared it 8 years early. But friends say he made 'financial mistake'. Here’s why the internet is dividedA Reddit user sparked debate online after revealing they paid off a Rs 45 lakh home loan eight years early by putting every spare rupee tow...
- Can you get another loan if you’re already paying EMIs? Here’s the answerYour salary is just the start for loan approval. Lenders scrutinize your income after deducting all current EMIs. This remaining amount, me...
- Planning to take home loan? 5 smart ways to maximise your benefitsThe amount you borrow should depend on your personal financial situation, including monthly expenses, existing liabilities, lifestyle needs...
- Personal loan mistakes that cost you lakhs: 9 rules every borrower must know before signing
- Bengaluru CA's Rs 1 crore home became her biggest regret. But she changed one financial habitChartered Accountant Meenal Goel revealed her Rs 1 crore home loan became a financial burden, with nearly Rs 1.89 crore going towards inter...
- Will dream run for home loan borrowers end soon despite RBI maintaining status quo on repo rate?The Reserve Bank of India has kept the repo rate steady at 5.25%. Home loan borrowers may see temporary relief. However, rising inflation, ...
- Wealth Hack of the Day: Save Rs 18.31 lakh on Rs 50 lakh home loan with this prepayment trickA prepayment strategy can significantly reduce your home loan tenure and interest payments. By paying one extra EMI annually on a Rs 50 lak...
- Home loan prepayment of Rs 50,000 vs Rs 1 lakh per year: Which option can save Rs 29 lakh on Rs 40 lakh loan?Paying off a home loan faster can be achieved through partial prepayments. For a Rs 40 lakh loan at 8.5% interest, prepaying Rs 50,000 annu...
- 5 ways to prepay your loan faster
- Should you prepay loan or start investing?He should also consider setting up an emergency fund, which can act as a backup for EMI payments in case of an unexpected job loss. If he d...
- Home loan: This strategy will save Rs 16 lakh on Rs 40-lakh loan, finish it 6 years earlyInterest rates on floating rate home loan, especially EBLR home loans, have risen by almost 2.5% within last 16 months due to which the EMI...
- Tips on how to keep your EMIs constantThere are 3 options; pre-pay a part/whole of the loan, switch to a fixed-rate loan, or increase in tenure.
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