Being in debt is not an ideal situation for anybody. However, there are some scenarios where availing a loan is necessary to fulfil your dreams, like in the case of a home loan. The dreams of millions of people have come true due to availing a home loan. But, if you have some money to make a partial or full prepayment of a home loan , then it is worth considering. After you make the prepayment, you will have the option to decide among two scenarios, and they are: First, you can opt to reduce your EMI. It will help you save some money each month. The second option you will have is you can opt to reduce your tenure and continue paying the same EMI. in this way your loan will be finished earlier. This decision can be made more easily by using the home loan prepayment calculator. All you have to do to use this calculator is enter the following fields: Loan amount Rate of interest Tenure (months) The amount you want to repay. The calculat
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