Home loan prepayment ₹2 lakh/year: 23 lakh bacha aur 8 saal kam lage

Home Loan Prepayment Strategy: Original loan: Amount: ₹45,00,000 Rate: 8.5% Tenure: 20 years EMI: ₹39,000 Total payment: ₹93,60,000 Interest: ₹48,60,000 With ₹2 lakh yearly prepayment: Year 1: Balance ₹43.5 lakh - prepay ₹2 lakh = ₹41.5 lakh Year 2: Balance ₹39.8 lakh - prepay ₹2 lakh = ₹37.8 lakh Year 3: Balance ₹35.9 lakh - prepay ₹2 lakh = ₹33.9 lakh ...continues... Loan cleared in: 12 years (instead of 20) Total EMI paid: ₹56,16,000 Total prepayment: ₹24,00,000 Total paid: ₹80,16,000 Interest saved: ₹13,44,000 Mortgage calculator mein: ₹2 lakh/year prepayment = ₹1,134 lakh interest saved + 8 years saved Agar ₹3 lakh/year prepayment: Loan cleared: 9.5 years Interest saved: ₹20 lakh Source of prepayment money: Annual bonus: ₹1,50,000 Tax refund: ₹30,000 Side project income: ₹20,000 Total: ₹2,00,000/year Important: Prepayment reduces principal, not tenure. Bank automatically reduces tenure.

Mortgage calculator mein prepayment option use karein. Different amounts daalein aur dekhein kitna bachta hai. ₹1 lakh se bhi fark padta hai. Bonus aur tax refund ko prepayment ke liye reserve karein. Yeh "extra" paisa hai jo lifestyle pe impact nahi karega. Part-payment charges check karein. Most banks 1-2 free part-payments allow karte hain per year.

Sabse badi galti: Bonus ko spend kar lena. Yeh home loan prepayment ka sabse best use hai. 8.5% guaranteed return jo tax-free hai. Doosri galti: Tenure reduce nahi karwana. Part-payment karke EMI same rakhte hain agar tenure reduce nahi karwa to fayda kam hota hai. Teesri galti: PPF aur prepayment mein confuse hona. PPF 7.1% return, home loan 8.5% cost. Loan prepayment better return hai.