{"id":11956,"date":"2023-04-26T12:43:05","date_gmt":"2023-04-26T12:43:05","guid":{"rendered":"https:\/\/www.homebazaar.com\/knowledge\/?p=11956"},"modified":"2024-11-21T05:35:56","modified_gmt":"2024-11-21T05:35:56","slug":"how-to-manage-home-loan-emi","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/knowledge\/how-to-manage-home-loan-emi\/","title":{"rendered":"How To Manage Home Loan EMI In 2025: Smart Tips To Manage Your Finances"},"content":{"rendered":"<p><span style=\"font-weight: 400\">A home loan is a type of loan that helps individuals finance the purchase of their dream home. It is a long-term loan that can be repaid in monthly instalments, known as Equated Monthly Installments (EMI).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The EMI includes both the principal amount and the interest charged on it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The repayment period for a home loan can range from 5 to 30 years, depending on the amount borrowed, the interest rate, and the borrower&#8217;s income.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The EMI amount remains fixed throughout the repayment period, which makes it easier for borrowers to plan their finances.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Understanding the concept of home loan EMI is essential for managing your finances and ensuring timely repayment of your loan.<\/span><\/p>\n<p><strong>Note:<\/strong><br \/>\n<em><a href=\"https:\/\/www.homebazaar.com\/\"><strong>Homebazaar<\/strong><\/a> serves homebuyers searching for <strong>flats in India<\/strong> with end-to-end services like site visits, and <a href=\"https:\/\/www.homebazaar.com\/homeloans\"><strong>lower-interest home loans<\/strong><\/a> to property registration guidance. We provide the best price options &amp; offers for 1 to 4 BHK RERA-registered flats, villas &amp; penthouse properties in India. To begin a smooth homebuying journey with us, fill out the form mentioned below or on the right side.<\/em><\/p>\n<h2><b>Importance Of Managing Home Loan EMI<\/b><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-11958 size-full\" src=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122635\/Importance-Of-Managing-Home-Loan-EMI.jpg\" alt=\"How To Manage Home Loan EMI In 2025 - Importance Of Managing Home Loan EMI\" width=\"810\" height=\"391\" srcset=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122635\/Importance-Of-Managing-Home-Loan-EMI.jpg 810w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122635\/Importance-Of-Managing-Home-Loan-EMI-300x145.jpg 300w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122635\/Importance-Of-Managing-Home-Loan-EMI-768x371.jpg 768w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122635\/Importance-Of-Managing-Home-Loan-EMI-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Managing home loan EMI is crucial because it determines the amount of money you need to pay every month towards your home loan.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">This payment can be a significant portion of your monthly budget, and if not managed properly, it can lead to financial stress and difficulties in meeting other financial obligations.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Effective management of home loan EMI can help you avoid defaulting on your loan, which can negatively impact your credit score and make it difficult for you to borrow in the future.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Additionally, managing your home loan EMI can help you save money by reducing the total interest paid over the loan tenure.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Therefore, it is important to manage your home loan EMI effectively to avoid financial stress and ensure timely repayment of your loan.\u00a0<\/span><\/li>\n<\/ul>\n<h2><b>How To Manage Home Loan?<\/b><\/h2>\n<p><img decoding=\"async\" class=\"alignnone wp-image-11959 size-full\" src=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122723\/How-To-Manage-Home-Loan.jpg\" alt=\"How To Manage Home Loan EMI In 2025\" width=\"810\" height=\"391\" srcset=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122723\/How-To-Manage-Home-Loan.jpg 810w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122723\/How-To-Manage-Home-Loan-300x145.jpg 300w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122723\/How-To-Manage-Home-Loan-768x371.jpg 768w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122723\/How-To-Manage-Home-Loan-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><span style=\"font-weight: 400\">Managing home loans effectively is crucial for ensuring timely repayment and avoiding financial stress.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Here are tips to help you manage a Home Loan.<\/span><\/p>\n<p><b>Budget Planning:<\/b><span style=\"font-weight: 400\"> Plan your monthly budget and allocate funds towards your home loan EMI. Ensure that you have sufficient funds to cover the EMI payment every month.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Also, consider all the aspects of your life while planning the budget such as if you have kids then their education funds, medical expenses etc come into account.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you are planning marriage in future then marriage-related expenses should be considered while budget planning.<\/span><\/p>\n<p><b>Choose the right tenure:<\/b><span style=\"font-weight: 400\"> Select a loan tenure that suits your financial situation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Longer tenures reduce the EMI, but increase the total interest paid, while shorter tenures increase the EMI, but decrease the total interest paid.<\/span><\/p>\n<p><b>Increase EMI with an increase in income: <\/b><span style=\"font-weight: 400\">As your income increases, consider increasing your EMI payments. This will help you repay your loan faster and save money on interest.<\/span><\/p>\n<p><b>Prepay your loan:<\/b><span style=\"font-weight: 400\"> If you have surplus funds, consider making prepayments towards your home loan. This can help reduce the principal amount and save you money on interest.<\/span><\/p>\n<p><b>Negotiate with the lender:<\/b> <span style=\"font-weight: 400\">If you are facing financial difficulties, talk to your lender about restructuring your loan or reducing the EMI for a temporary period.<\/span><\/p>\n<p><span style=\"font-weight: 400\">You can hustle free to <\/span><span style=\"font-weight: 400\">apply for a home loan<\/span><span style=\"font-weight: 400\"> on our portal.<\/span><\/p>\n<h2><b>How to Manage Home Loan EMI<\/b><\/h2>\n<p><span style=\"font-weight: 400\">After getting approval for your home loan, the next crucial step is to effectively manage the monthly EMI payments.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Managing your home loan EMI involves making sure that you can pay off your home loan on time, without defaulting or facing financial stress.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-11960 size-full\" src=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122823\/How-to-Manage-Home-Loan-EMI_1.jpg\" alt=\"How To Manage Home Loan EMI In 2025\" width=\"810\" height=\"391\" srcset=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122823\/How-to-Manage-Home-Loan-EMI_1.jpg 810w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122823\/How-to-Manage-Home-Loan-EMI_1-300x145.jpg 300w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122823\/How-to-Manage-Home-Loan-EMI_1-768x371.jpg 768w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122823\/How-to-Manage-Home-Loan-EMI_1-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><span style=\"font-weight: 400\">Here are tips to manage Home Loan EMI,<\/span><\/p>\n<h4><b>Prioritise Repayment<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Your creditworthiness increases if you pay your EMIs on time. To guarantee you have enough money in the account and reduce the likelihood that you will default due to a shortage of funds, arrange the EMI closer to the date of your salary.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Defaulting on a loan for a longer period can result in the lender attaching your home, severe penalties from the financial institution, and a bad impact on your credit score.<\/span><\/p>\n<h4><b>Choose the ideal home loan tenure<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Choose a home loan term that works with your budget and ability to make payments.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While a shorter duration increases the EMI, a longer tenure decreases the EMI while increasing the total amount of interest paid.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you are taking a home loan at an early age then you are eligible for maximum home loan tenure.<\/span><\/p>\n<h4><b>Prepay With Lump Sums<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Money received as a bonus or the maturity profits from an insurance policy may be utilised at times to prepay a portion of the loan.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For example, you can save roughly Rs 1.9 lakh and shorten the loan&#8217;s term by five months by making a prepayment of Rs 1 lakh following three years on a Rs 50 lakh loan with a tenor of 15 years at 9%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you make a couple more of these lump sum payments, you can significantly shorten the loan term. Making the payments in one big sum is preferable.<\/span><\/p>\n<h4><b>Increase your EMI amount with an increase in your salary\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400\">As your income increases over time, you can increase your EMI payments.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This will result in faster home loan repayment and eventually you will save money on interest. It requires careful consideration and planning. You can calculate your EMI using an <\/span><a href=\"https:\/\/www.homebazaar.com\/home-loan-emi-calculator\"><span style=\"font-weight: 400\">EMI calculator.<\/span><\/a><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Check if you will be able to comfortably pay the increased EMI without compromising on your other financial goals.<\/span><\/p>\n<h4><b>Balance transfer of the loan<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Make the transfer to a new lender if you discover that the total expense of servicing the loan would be reduced if you transfer it to another financial institution.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Lenders frequently cut their rates periodically. By switching to a lender with lower rates, you have the chance to save on interest. A loan evaluation process, new paperwork, and receipt of a fee are required for the changeover.<\/span><\/p>\n<p><span style=\"font-weight: 400\">By following these tips, you can manage your home loan EMI effectively and ensure timely repayment of your loan. It is also essential to keep track of your loan account and avoid defaulting on your loan to maintain your financial health.<\/span><\/p>\n<h2><b>How to Reduce Home Loan EMI?<\/b><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-11961 size-full\" src=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122847\/How-to-Reduce-Home-Loan-EMI.jpg\" alt=\"How To Manage Home Loan EMI In 2025 - How to Reduce Home Loan EMI?\" width=\"810\" height=\"391\" srcset=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122847\/How-to-Reduce-Home-Loan-EMI.jpg 810w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122847\/How-to-Reduce-Home-Loan-EMI-300x145.jpg 300w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122847\/How-to-Reduce-Home-Loan-EMI-768x371.jpg 768w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122847\/How-to-Reduce-Home-Loan-EMI-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><span style=\"font-weight: 400\">Here are ways to reduce your home loan EMI.<\/span><\/p>\n<h4><b>Make a higher down payment<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Making a higher down payment when you purchase a home will help you reduce your EMI amount. This is because the amount you borrow will be less, so your EMI payments will be lower.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, if you can afford a higher down payment, you may be eligible for a lower interest rate on your home loan.<\/span><\/p>\n<h4><b>Choose a lower interest rate<\/b><\/h4>\n<p><span style=\"font-weight: 400\">The interest rate on your home loan plays a significant role in determining your EMI amount. Therefore, choosing a lender that offers a lower interest rate can help you reduce your EMI payments.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">You can compare home loan interest rates offered by different lenders to find the best deal.<\/span><\/p>\n<h4><b>Refinance your home loan<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Refinancing your home loan with a lender who offers lower interest rates or longer loan tenure can help you reduce your EMI.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, before refinancing, make sure to compare the processing fees, prepayment charges, and other associated costs to ensure that the benefits outweigh the costs.<\/span><\/p>\n<h4><b>Increase the tenure of the loan<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Increasing the tenure of your home loan will help you reduce your EMI payments.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, keep in mind that a longer tenure will increase your overall interest costs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Therefore, if you choose to increase your loan tenure, make sure to assess the long-term impact on your finances.<\/span><\/p>\n<h2><b>How To Finish Home Loan Quickly?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">EMI is one of the crucial financial aspects in financial planning for any individual.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The issue begins when rising interest rates result in higher EMIs as well as longer payment terms.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">People, therefore, seek out rapid house loan closing methods.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-11962 size-full\" src=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122929\/How-to-Finish-Home-Loan-Quickly.jpg\" alt=\"How To Manage Home Loan EMI In 2025 - How to Finish Home Loan Quickly?\" width=\"810\" height=\"391\" srcset=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122929\/How-to-Finish-Home-Loan-Quickly.jpg 810w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122929\/How-to-Finish-Home-Loan-Quickly-300x145.jpg 300w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122929\/How-to-Finish-Home-Loan-Quickly-768x371.jpg 768w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26122929\/How-to-Finish-Home-Loan-Quickly-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><span style=\"font-weight: 400\">Here are some strategies for speeding up the repayment of a mortgage by altering the payment cycle.<\/span><\/p>\n<h4><b>Opt for a shorter tenure<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Opting for a shorter loan tenure will help you pay off your home loan faster. However, keep in mind that a shorter tenure will result in higher EMI payments.<\/span><\/p>\n<h4><b>Minimum of once every year, partial payment<\/b><\/h4>\n<p><span style=\"font-weight: 400\">The home loan can be partially paid off in one lump sum at least once every year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A payment of 20\u201325% of the loan balance will significantly lower the principal balance of the house loan, which will subsequently lower the EMI amount or shorten the loan repayment time. Borrowers can arrange to make such big payments a minimum of once a year, perhaps when they get substantial payouts like yearly bonuses or other large sums of money.<\/span><\/p>\n<h4><b>Increase the EMI<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Increasing your EMI payment can help you pay off your home loan quickly. However, make sure that you can afford the increased EMI payment before opting for this option.<\/span><\/p>\n<h4><b>Make use of bonuses, increments, and windfalls<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Any extra income such as bonuses, increments, or windfalls should be used to make prepayments on your home loan. This will help you pay off your home loan faster and save on interest costs.<\/span><\/p>\n<h2><b>Importance Of Responsible Borrowing And Timely Repayment Of Home Loans<\/b><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-11963 size-full\" src=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26123010\/Importance-Of-Responsible-Borrowing-And-Timely-Repayment-Of-Home-Loans-1.jpg\" alt=\"How To Manage Home Loan EMI In 2025 - Importance Of Responsible Borrowing And Timely Repayment Of Home Loans\" width=\"810\" height=\"391\" srcset=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26123010\/Importance-Of-Responsible-Borrowing-And-Timely-Repayment-Of-Home-Loans-1.jpg 810w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26123010\/Importance-Of-Responsible-Borrowing-And-Timely-Repayment-Of-Home-Loans-1-300x145.jpg 300w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26123010\/Importance-Of-Responsible-Borrowing-And-Timely-Repayment-Of-Home-Loans-1-768x371.jpg 768w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2023\/04\/26123010\/Importance-Of-Responsible-Borrowing-And-Timely-Repayment-Of-Home-Loans-1-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/p>\n<p><span style=\"font-weight: 400\">Responsible borrowing and timely repayment of <a href=\"https:\/\/www.homebazaar.com\/knowledge\/how-to-get-home-loan-approved-instantly\/\">home loans<\/a> are essential for your financial well-being. Here are some reasons why:<\/span><\/p>\n<p><b>Maintaining a good credit score:<\/b><span style=\"font-weight: 400\"> Timely repayment of home loans is one of the most critical factors that contribute to your credit score. A good credit score can help you get favourable interest rates on future loans, credit cards, and other financial products.<\/span><\/p>\n<p><b>Avoid penalties:<\/b><span style=\"font-weight: 400\"> Late payment or defaulting on your home loan payments can result in penalties and additional fees. These penalties can increase your overall debt burden and negatively impact your credit score.<\/span><\/p>\n<p><b>Saving money on interest costs:<\/b><span style=\"font-weight: 400\"> Paying your home loan instalments on time reduces the overall interest cost. Timely repayment of the loan ensures that you are not paying additional interest charges or late payment fees, which can add up significantly over time.<\/span><\/p>\n<p><b>Achieving financial goals:<\/b><span style=\"font-weight: 400\"> Responsible borrowing and timely repayment of home loans can help you achieve your financial goals, such as buying a new home or investing in other assets. By building a positive credit history, you become eligible for better loan terms and can access credit easily in the future.<\/span><\/p>\n<p><span style=\"font-weight: 400\">By ensuring timely payments, you can save money, avoid penalties, build a positive credit history, and achieve your financial goals.<\/span><\/p>\n<h2><b>FAQs<\/b><\/h2>\n<table>\n<tbody>\n<tr>\n<td><b>Can we close the home loan immediately?<\/b><\/p>\n<p><span style=\"font-weight: 400\">In order to reduce interest payments, a borrower may also preclose a mortgage. A portion of the interest can be avoided by paying off a loan before the period is over. When the loan is closed, any interest that was owed by the borrower after the preclosure will be automatically forgiven.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>How much EMI is safe for a home loan?<\/b><\/p>\n<p><span style=\"font-weight: 400\">In general, your monthly mortgage payment shouldn&#8217;t be in excess of 35% &#8211; 40% of what you earn. The main justification for this is that you must have a little room to breathe because you need to cover a variety of other expenses.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Is it better to pay extra EMI for a home loan?<\/b><\/p>\n<p><span style=\"font-weight: 400\">By selecting the part-payment option, you can ease your EMI obligations and lower the overall amount of interest owed.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Can we repay the home loan early?<\/b><\/p>\n<p><span style=\"font-weight: 400\">Lenders offer both complete and partial prepayment of a mortgage. You might settle a fraction of the balance owed before continuing with the same EMI.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A home loan is a type of loan that helps individuals finance the purchase of their dream home. It is a long-term loan that can be repaid in monthly instalments, known as Equated Monthly Installments (EMI).\u00a0 The EMI includes both the principal amount and the interest charged on it.\u00a0 The repayment period for a home [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":11964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[2018,2467,195,2465,2466],"class_list":["post-11956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-loan","tag-emi","tag-emi-repayment","tag-home-loan","tag-home-loan-emi","tag-home-loan-emi-management"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/11956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/comments?post=11956"}],"version-history":[{"count":5,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/11956\/revisions"}],"predecessor-version":[{"id":16925,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/11956\/revisions\/16925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/media\/11964"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/media?parent=11956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/categories?post=11956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/tags?post=11956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}