Home loans are a nifty way to get you landed in your dream home without excessively digging into your savings or your inheritance. But when it comes to paying the EMIs, only a few of us are lucky to manage the sudden overheads after moving into our cozy homes. Home Loan EMI Calculator and a set of carefully planned moves can save you from all the headaches. Recently, Jiyo Zindagi Plan has been launched by Investors Clinic that allows you to pay the EMIs two years after possession which means that you will have 2 EMI free years even after possession.
Most of the means of repaying your home loans are within your reach, but somehow they remain imperceptible. RBI has acted as a great savior as it has cut down the rate of interest, which is a big help for people who have taken loans. Generally borrowers can make some prepayment of a part of the loan (if they have surplus cash) to reduce the interest burden or they can increase the EMI (if they can afford) to reduce the tenure period and therefore the overall interest paid. [Read more…]