This PPT will describe you the Easiest way to pay your housing loan.

1. Tips For Clearing
Housing loans Quickly
© Sudha Habitat (P) Ltd

2. Index
• Housing loan closure - Benefits
• How to repay Housing Loan faster?
• SBI MaxGain Home Loan

3. Housing Loan Closure - Benefits
 You will be owning the house by clearing off all the debts which
will provide you stability.
 Debt free financial position
 Paying off your loan faster is another way to save money because
the longer one takes to pay off his loan amount, the more interest
he has to pay along the tenure and the higher is the overall cost of
the loan.
 You will be increasing your equity in your home.

4. How to repay Housing Loan faster?
• Partial Pre-Payment:
– An extra repayment at any time would help to reduce both the
tenure and cost of a loan. So if one get a bonus or additional
income, utilize it to make higher payments.
– In case of pre-payment, generally you pay off the principal
amount, so your tenor gets reduced and you end up paying less
interest. Interest keeps on increasing if your tenor increases. But
if you pay off the principal amount then it will reduce your
interest too.

5. • Apply for a Home Loan with shorter term.
– This will Increase the EMI paid every month but it will reduce
the Interest that is paid to the home loan provider
– Example:
– With Increase in 7868.56 EMI, you will be saving about
4,81,186.20 Interest

6. • Choose a better scheme:
– Some banks offer a home loan schemes, at slightly higher of
interest of 0.25-0.5% or same rate as normal home loan.
– In these schemes, you can deposit money in the special account
created by the bank. On the money deposited, you will get interest
credit.
– Example:
SBI offers Loan under SBI MaxGain scheme.

7. • Pay loan fees and charges up front:
– Pay establishment fees, legal fees or etc upfront rather than adding
them into your loan.
• Increase the EMI when your Income increases:
– When there is an Increase in income make sure to increase your
EMI.
– This reduces the tenure of the Home Loan
• Switch to a lender with a lower rate

8. – SBI MaxGain House loan is nothing but the OD sanctioned to you.
In this case, the collateral is your home loan. So whenever you
have a surplus amount then you deposit to this MaxGain account.
– Suppose you want Rs. 40,00,000 loan. In the ordinary situation, the
interest will be charged on 40,00,000. Now, if you have chosen the
scheme and have deposited Rs. 10,00,000 in a special account
created by the bank, then interest will be charged on 40,00,000-
10,00,000 = 30,00,000 only.
– Thus you will pay the loan faster. Also Rs. 10,00,000 in the
account can be increased and reduced whenever you want.
SBI MaxGain House Loan

9. Corporate and Registered Office:
#49, 7th Cross, C.T.Bed,
B.S.K 2nd Stage, B'luru-70.
9
© Sudha Habitat (P) Ltd
Telefax: +91 80 2671 6668, +91 80 2671 3929
Mobile: +91 80888 87720, +91 99868 77868
Mail: info@sudhadevelopers.com
Web: www.sudhadevelopers.com
Thank You

10. Corporate and Registered Office:
#49, 7th Cross, C.T.Bed,
B.S.K 2nd Stage, B'luru-70.
9
© Sudha Habitat (P) Ltd
Telefax: +91 80 2671 6668, +91 80 2671 3929
Mobile: +91 80888 87720, +91 99868 77868
Mail: info@sudhadevelopers.com
Web: www.sudhadevelopers.com
Thank You