Smart ways to reduce your home loan EMI payments

While acquiring a home loan, two factors that mainly determine the amount payable as EMI are home loan interest rate and loan tenor. Apart from these factors, there are numerous ways to reduce home loan EMI payments. Some of them are mentioned below.Bigger down paymentA down payment is an initial advance payment borne by borrowers from their own pockets while purchasing a house on credit. For home loans, generally, an amount equal to around 10% to 25% of the loan amount is needed to be paid as downpayment. The remaining home loan amount is serviced...

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