Anushka Rathod Shares Detailed Home Loan Insight Alert, Checkout the Details

Planning to buy a home and looking for budget home loans? These days home loans have higher interest rates which can make you end up paying double the amount. To plan finances better, decoding home loans becomes very important. So if you are planning to take a home loan or if your home loan is running the information shared by Anushka Rathod can be very helpful.

How To Demystify Home Loan EMIs

Home loans are now available at hefty interest rates, and in most cases, we end up paying double the amount of home loans. To avoid such a scenario it becomes very necessary to understand the EMI schedule which you get at the time of home loan approval. You can use this EMI schedule to deeply analyze and then strategize your repayment plan.

No matter how much home loan you've opted for always try to follow the 4-Block structure as it helps with better financial planning and you can also finish your loan much ahead of the loan tenure.

4-Block Structure

Divide your home loan into 4 parts to understand how much cumulative repayment and interest you've done so far. This will make you understand the repayment structure and you will not end up paying double the amount of a home loan.

How To Reduce Your EMI and Interest Rate

After a deep analysis of the 4-Block structure, you can understand that your initial years of home loan majorly contribute towards the interest rate. To reduce that gap you can opt to pay an additional EMI every year to reduce your interest rate significantly. This will not just be with interest rate reduction but your EMI installment will also reduce drastically.

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About Anushka Rathod

Anushka Rathod is a famous finance creator who creates content around investing, taxes, budgeting, and insurance. He also shares finance-related hacks that help you save more money.