Why You Should Keep The Loan Re-Payment Term Short
Home loans are either seen as a long term expense or an investment, depending on which side of the money fence you are on. Some have no option but to take a loan to buy a home, others do it simply to save income tax and build an asset. However, we still suggest you keep the loan repayment tenure as short as possible. Why stretch it for 30 years if you can somehow manage to recede it to, say, 25? While the equated monthly installment (EMI) amount would be much less in a 30-year tenure than that of a 25-year tenure, you can’t turn your eyes away from the benefits of a shorter loan tenure.