New Delhi. In today's time, Dream Own Home is one of the most expensive deals and for this people have to take a loan. But in filling its EMI, a thick part of the salary goes every month (Big Part Salary Every month). In such a situation, everyone wants his loan to end as soon as possible. For this, by adopting some easy tips, the expenses in repaying the loan and its burden can be eliminated to a great extent. Let's know in detail about three such tips…

50 lakh loan and 40000 EMI
Now let us assume that you have taken 50 lakh rupees for home loan for 25 years. This loan has been given to you at an interest of 8.5 percent from the bank and according to this your monthly EMI (Home Loan EMI) is made worth Rs 40,000. As the bank recover more interest on your loan in the initial years. This can be gauged from the fact that you pay Rs 4.80 lakh through an EMI of Rs 40000, but the principal amount of your loan is just Rs 60,000 less and Rs 4.20 lakh only goes to pay interest.

First tips
If you want to finish this 25 -year home loan in just 10 years, then you have to pay with the right strategy. The first tips of this are that you should pay an EMI extra every year, that is, in addition to every month's installment, make extra payment of Rs 40,000. The benefit will be that this money will not be less than your interest amount, but the principal amount and due to this, the tanor of the loan will be reduced from 25 years to 20 years.

Second tips
Now let's talk about other tips, so let us know that you will have to increase your EMI at the rate of 7.5 percent every year and it will be beneficial that by doing this, the tanor of your loan will be reduced from 25 years to only 12 years. With the low tanor of your loan, you will have to give a less amount for a short time and you can get out soon of the loan of the loan.

Third tips
Now tell about the third and most special tips, so it is a mixture of both the tips mentioned above and this is also the strategy, by adopting which you can stop your 25 -year loan in 10 years. Actually, you increase EMI every year at the rate of 7.5% with the installment of an extra Rs 40,000 every year, then the tenure of your loan will be just 10 years.