If you miss your payment it will also reflect on your credit score.

1. Smart Ways To Prepay
Home Loans
6

2. It is a place where one spends
their most of the time.
Here are our 6 ways to prepay
your Home Loan.
Everyone wants to have a house
of their own without any
problems.
Taking a home loan can create a
problem if we don’t pay on time.

3. Home Loan?
Loan That Allows Part Payments
The loan you take is dependent on your current
affordability which will increase with time.
You will be able to repay more and
clear it before the set tenure.
Check the terms & conditions of your loan by
the bank.

4. Your EMI amount as your Salary
Adjust the loan EMI as per your salary
& the decided percentage.
In fact, decide on a % of your salary to
direct towards home loan repayment.
This will reduce the tenure and
rate of interest.
Prepaying even smaller portions of the loan
can save you considerable amount.

5. Targeted Investments
Plan your investment with specific goals.
So, make sure to clear your home loan.
Determine the returns you would get
& time period of investment

6. SIP Investments
The frequency of investment is usually
weekly, monthly or quarterly.
SIP is a way of investing a fixed amount of
money is in a pre-defined mutual fund
scheme at a fixed interval. You decide the
amount, the SIP date and the schemes in
which you wish to invest.
With SIP, one can stay invested for a longer
period of time. Over time as your
investment generates returns, the returns
get added to the amount and this in turn
generates more returns.

7. Direct your Extra Incomes
This extra income can also be
directed towards, clearing your
home loan.Any extra money that you receive in the year
can be directed towards your prepayment.
Paying faster will reduce your debt.

8. Avoid Missing loan
Missing a loan payment will call
for a penalty along with the loan
EMI & interest.
If you miss your payment it will also reflect
on your credit score.
Prepaying your home loan will not only relieve
you from a major financial burden, but it will
also give you space to plan for other financial.

9. When you begin planning for a home loan You can get both your personal
Home Loan and business credit score by applying directly on the link
mentioned below :
https://cir.crifhighmark.com
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