Ever wondered what impact would increasing your EMI payments annually have on your loan tenure?

Watch it for yourself. It’s absolutely stunning.

Consider the loan amount as 50 lakhs and loan tenure as 25 years, initially.

If you pay an extra EMI every year, the tenure drops to 19 years, 3 months.

If you hike your EMI by 5% every year, the loan tenure would drop to just 13 years 3 months.

If you hike your EMI by 10% every year, the tenure drops to just 10 years.

Hence, if you ever take a loan, make sure to hike your EMI alongside when your salary increases!

Cheers!

#EMI #debt #repayment #loan #loantenure

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