Preeti Kapoor

 Prepaying your Home Loan Pre-closing the home loan means closing the loans before the completion of actual tenure Home loans are usually availed for a long tenure by borrowers to minimize the EMI pressure.  Prepayment is a facility that allows you to repay your home loan before the completion of your tenure. Prepaying your home loan means savings on interest and reduction of principal outstanding. Usually, customers opt for prepayment when they have surplus funds. Pre-closing a loan means clearing off your dues with a single payment. Prepayment means making part payments on your loan over and above your EMIs. Before Prepaying your home loan The interest rate at a record high Compare your return on investment with the cost of a home loan Repay higher-cost loans first Consider your cash need for emergencies, goals When to Prepay home loan Interest rate record high The higher part of EMI goes towards principal repayment Bulk income, bonus incentives received Prepaying your home loan Ther

          Tips to Pay Your Home Loan Faster                                                                  Tricks to pay your  home loan faster                                                         Paying a home loan early is the dream of a borrower. By following certain tips you can pay off your home loan faster: Purchase a home you can afford Save money before applying for a loan Take some part-time jobs or do freelancing to make extra money Don't take any personal loan Make partial repayments as much as you can to reduce interest rates faster Reach the principal amount early Postpone your unnecessary travel plans Always keep 3 month EMI amount in your account Lease your property which you rarely use Pay your credit card bills on time Use the profit from your other investments like fixed deposits