New Home Loan borrower? Learn to reduce your EMI now!

December 24, 2019

In an attempt to have a home of one’s own, the EMI can well be considered the “income guzzler”. However, once you have moved and settle into your dream home, is the repayment of EMIs giving you nightmares? Fear not, there are ways to ease the EMIs, and keep yourself afloat and confident.

Experts suggest several guidelines to reduce home loan EMIs, for healthy and happy loan tenure for borrowers. Check out these 4 wise tips that can steer you in the right direction.

Increase your down payment
Making a higher down payment lowers the principal amount of your loan. The EMI amount will be subsequently reduced, since the interest rate will be lowered. Try to allocate, save and amass funds such that you can make as large a down payment for the home as is possible.

Increase the tenure of repayment
If you increase the time of your home loan repayment, its amount per month will be less. You may end up paying more interest for the lengthened tenure; but your monthly outgoing amount will be reduced, like you intended.

Research and compare before choosing
Thorough research of available home loan rates and comparison between lenders and their terms will be the best way to start.  If you find another lender offering a lower interest rate and better repayment terms, you can transfer your home loan.

Negotiate for better interest rates
A lot of home loan customers who have been paying EMIs on time and have been long-standing customers, negotiate with their loaning institution to lower the interest rates. This is also a good way to reduce EMIs.

Home loan and EMIs will be a part of your life for a minimum of 10 or 15 years. It’s a long-term commitment that doesn’t necessarily have to be a torturous one. Use these valuable tips to avoid any financial mishandlings and money worries. That’s the beginning to smart home and smart life.

Click here to use this simple Home Loan EMI Calculator to know the exact amount of your EMIs.



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New Home Loan borrower? Learn to reduce your EMI now!

December 24, 2019

In an attempt to have a home of one’s own, the EMI can well be considered the “income guzzler”. However, once you have moved and settle into your dream home, is the repayment of EMIs giving you nightmares? Fear not, there are ways to ease the EMIs, and keep yourself afloat and confident.

Experts suggest several guidelines to reduce home loan EMIs, for healthy and happy loan tenure for borrowers. Check out these 4 wise tips that can steer you in the right direction.

Increase your down payment
Making a higher down payment lowers the principal amount of your loan. The EMI amount will be subsequently reduced, since the interest rate will be lowered. Try to allocate, save and amass funds such that you can make as large a down payment for the home as is possible.

Increase the tenure of repayment
If you increase the time of your home loan repayment, its amount per month will be less. You may end up paying more interest for the lengthened tenure; but your monthly outgoing amount will be reduced, like you intended.

Research and compare before choosing
Thorough research of available home loan rates and comparison between lenders and their terms will be the best way to start.  If you find another lender offering a lower interest rate and better repayment terms, you can transfer your home loan.

Negotiate for better interest rates
A lot of home loan customers who have been paying EMIs on time and have been long-standing customers, negotiate with their loaning institution to lower the interest rates. This is also a good way to reduce EMIs.

Home loan and EMIs will be a part of your life for a minimum of 10 or 15 years. It’s a long-term commitment that doesn’t necessarily have to be a torturous one. Use these valuable tips to avoid any financial mishandlings and money worries. That’s the beginning to smart home and smart life.

Click here to use this simple Home Loan EMI Calculator to know the exact amount of your EMIs.



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Parkwest - Bengaluru

SP Residency - Pune

Vicinia - Mumbai

Codename Mumbai Dreams - Mumbai

SP Infocity - Manesar

SP Infocity - Pune

SP Infocity - Nagpur

SP Infocity - Mohali

JoyVille Howrah

JoyVille Hinjawadi

JoyVille Virar

JoyVille Gurugram

The Designate - Mumbai

Northern Lights - Thane

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