Top News

Home Loan EMI: Nowadays it is almost impossible to buy a house without a home loan. Usually, the duration of a home loan (Home Loan repayment rules) is at least 20 years, so due to the long duration, the total amount of the loan including interest has to be repaid quite high.

In such a situation, it becomes necessary to manage the home loan (home loan EMI rules) in such a way that it is easy to repay it. Here we are going to tell you one such method, by trying which you can repay a home loan of 20 lakhs (home loan process) by paying only 6 lakh rupees from your pocket. Understanding this method before taking a home loan can be very beneficial for you.

This is how taking a home loan is expensive-

If you take a home loan (Home Loan SIP) of Rs 50 lakh for a house or property, then the interest rate is almost 9 percent (interest rate on home loan). In such a situation, 58 lakh rupees have to be paid as interest in the entire loan period. In this way, home loans become more than double expensive. SIP is such a method, by which this interest amount can be easily compensated.

SIP is becoming the best option -

Due to high property rates, buying a house (home buying tips) is not an easy task. Even for a small house, one has to pay 50-60 lakh rupees. Even if you make a 20 percent down payment (down payment rules) while taking a home loan, the remaining amount is still several lakhs.

In such a situation, the EMI of this loan amount is also huge. If you want to recover the interest on a home loan, then you can easily recover it by investing in a mutual fund SIP (SIP investment). For this reason, SIP is now becoming the best option for investment (SIP Return).

Will not get trapped in the debt trap by taking a home loan -

Often people get trapped in the debt trap by taking home loans. One reason for this is that due to the high loan amount, its EMI (home loan EMI) is also high. Generally, even if we look at the average interest rates, the EMI (EMI repayment rules) on taking a loan of Rs 20 lakh for 10 years is more than Rs 25 thousand.

In a loan period of 10 years, you will have to pay a total of Rs 30 lakh i.e. 20 lakh loan amount and interest of Rs 10 lakh. But if you invest in SIP (SIP me nivesh kaise kre) and get returns, then you can avoid getting trapped in the debt trap by taking a home loan.

When to invest in SIP -

If you plan to take a loan, then it is also important when to invest in SIP (systematic investment plan) to compensate for its interest. Investment in SIP is usually done for 10 to 15 years. Therefore, when you take a home loan of Rs 20 lakh for 10 years, then invest in SIP 5 years before that. With this, you will get the SIP money with maturity at the time of repaying the home loan. That means it will be useful to you at the right time.

This is how the home loan interest will be reimbursed-

By investing in SIP, you can get a return of 15 percent interest rate (interest rate in SIP). This is much higher than the home loan interest. This will easily reimburse your home loan interest (home loan interest rate).

If you invest 5 thousand rupees every month for 10 years in this, then in the end you will get 14 lakh rupees from SIP. With this money, you can repay your home loan (Home Loan repayment) of 20 lakhs by adding only 6 lakhs. According to this, you will have to repay only 6 lakh rupees of the loan.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.