Mar 22, 2025
Choosing a shorter loan tenure increases your EMI but reduces the total interest paid for a quicker loan repayment.
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Utilize any surplus funds to make partial prepayments, which reduce your principal amount and interest.
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Try increasing the EMI amounts after a salary hike to repay your home loan faster.
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A lender offering a lower interest can lead to reduced EMI and loan time.
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Carefully opt the full-EMI instead of pre-EMI to avoid an increased principal over time.
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Optimise your additional income from investments or freelance towards repayment of your loan.
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While some lenders offer EMI holidays, they can increase your interest burden, start repaying timely.
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A good credit score can help you negotiate better interest rates, for faster loan repayment.
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Creating a strict budget and reducing unnecessary expenses can free up funds for additional loan payments.
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Limiting new debts ensures that more of your income goes towards paying off your home loan
Source: canva
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