BusinessPhoto: News18 BusinessHow Better Credit Scores Can Lower Home Loan EMIs and Save Interest
If your income and credit score have improved since taking a home or personal loan, refinancing at a lower interest rate could reduce your EMI and save lakhs in interest. However, actual savings depend on remaining loan tenure, transfer costs, and new loan terms. Extending tenure may lower EMI but increase total interest. Experts advise comparing savings with charges before switching.
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