How to repay your loan faster - Loan repayment | EMI prepayment | Home loan | Personal loan

In this video we spoke about:
👉 How to repay your loans quickly
👉 Concept of EMI
👉 Factors to consider before borrowing a loan
👉 How the repayment period affects the total amount to be paid.
👉 How to reduce the total loan amount to be paid?
👉 Home loan tax benefits
To watch best videos on investing,

We also have a Kannada, Tamil, Telugu & a Malayalam channel

Useful Links:

To know more about Groww,

Download Groww App📱

Follow us on:

#loans #emi

Disclaimer: These are not any recommendations for any funds or stocks and are meant only for educational purposes.

[Financial_Maiden]

Much appreciate your efforts. However, you could also add the inflation rate since the loan tenures are long. Any amount of money saved will have it's counter with inflation rate which will change the amount.

[ajith]

Dear Groww team ... we appreciate your effort in building content... please have a content in regional languages / English or with subs in English. since many of us cant understand hindi dho the content was good we miss it..

[roshimahanta]

Beautifully explained! Thank you very much 😊

[Hynniewtrep]

Much appreciated. I request Groww to put English subtitles also.

[AB-lpyv]

She missed the main concept of indirect recovery of all interest is by linking it with inv in mutual funds

[dhruvtewatia]

Great set of suggestions and real good explanation.
Thanks a lot for the video.

[hverma]

Rather I would pay 8% for home loan and would invest the amount that i was going to pay in extra emi in mutual funds for 15years. Mutual fund will give at least 15%. So i saved 15-8=7% and along with that i would save income tax also that too around 10%.

[udit]

It would have been great if you shares the calcution & formulas for your analysis. It would have helped to calculate on our own

[nsharma]

rich takes loans to create assets
poor takes it to create liabilities

[rohanshikhare]

One of the best Video on the Internet today much needed such guidance to handle the finances

[Yashikaslife]

Wonderful explanation, Thanks for your valuable suggestions.

[tushargupta]

Really Very Informative video, thanks GROWW

[prashantkaddam]

Gunjan ji you mentioned about can you guide on how to invest savings for better returns... while housing loan EMIs are on.

[infinitex]

I have a query on home loan. My loan AMT is fully disbursement now. In between I have opted for conversion twice to reduce interest rate from 9 to 6.9. my query is if it is wise to increase EMI. As per many suggestions, emi can be increased which will reduce tenure drastically. But the interest component will also increase accordingly, which is what the bank may want as they wan us to pay max money initially.

Or is it wise to not increase the EMI but accumulate money and do part payment so it will reduce tenure to a huge extent.

Or should I do both. Which is beneficial. Your suggestion pls.

[maddy]

One question I ask in every forum which posts this kind of video ...should I bother early payment if I am sure of earning return more than rate of interest...let's see if I get answer this time.

[nirbhaybhargava]

Mam how can i pay extra emis when my emis are fixed and how can i increase them every year? Are both these things under my control?

[rickykumar]

Hello Maam, thx u so much for such a lucrative video hope and wish u will always guide us on same way🤘

[nageshkumar]

Could be more simple in presentation. Besides, you made you point.

[ajayks]

paying extra Emi yearly or increasing emi amount decreases the repayment period but one looses the opportunity to invest that extra somewhere else and earn extra, I think this has't been factored in the calculation shown in video.

[arfaba]

Mam please tell me these rules are also working in credit card EMI or not