How To Close The Home Loan Early

Since home loans are long-term loans and banks and financial institutions earn substantial income from them, many companies impose certain charges for prepayment.

However, not everyone is obligated to pay these charges.

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If your income has grown over the past few years and your savings are increasing, you have the option to make partial prepayments on your loan.


If you anticipate a gradual rise in your income over time, consider gradually increasing your home loan Equated Monthly Instalments (EMIs).


You can also opt for a shorter loan tenure to reduce your overall loan burden. Opting for a shorter tenure loan means you will need to pay less interest overall.


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