BusinessPhoto: NDTV BusinessHow One Extra EMI Can Save Interest on Rs 50 Lakh Home Loan
A Rs 50 lakh home loan at 8.5% interest over 20 years results in about Rs 54.14 lakh interest paid, totaling Rs 1.04 crore. Paying one extra EMI annually reduces the outstanding principal faster, saving significant interest over the loan tenure without increasing monthly EMI. This simple strategy helps borrowers like Rahul cut down the overall interest burden effectively.
NDTV Business·



