Home loan tension will go away! All the interest money will be recovered, you just have to do this work…

New Delhi:- Employed people often take the help of home loan to buy a house, because it is easier to buy a house by taking a home loan. However, this is a very expensive way to buy a house. For this you have to pay 8 to 10 percent interest.

In such a situation, if you are taking a home loan of Rs 60 lakh at an interest rate of 9 percent for 25 years, then you will have to pay EMI of about Rs 52 thousand every month. In this way, by paying EMI of Rs 52 thousand for 25 years, you will have to pay only interest of about Rs 96 lakh.

That is, if you have taken a home loan of Rs 60 lakh, then you will have to pay around Rs 1.55 crore including the interest amount. However, there is one way you can get your home loan free.

Start SIP along with home loan

Since if you take a home loan of Rs 60 lakh, you will have to pay EMI of about Rs 52 thousand every month at an interest rate of 9 percent. In such a situation, if you start a SIP of Rs 5700, then you can recover around Rs 92 lakh out of the Rs 97 lakh paid for the home loan in 25 years i.e. till the end of the loan tenure.

Corpus worth more than Rs 1 crore in 25 years

If you do a SIP of Rs 5700 along with your home loan and you get an average interest of about 12 percent every year, then your total SIP investment in 25 years will be Rs 17 lakh. On this you will get an estimated return of around Rs 92 lakh.

By including Rs 17 lakh of investment and Rs 92 lakh of return, you will accumulate a corpus of around Rs 1 crore.

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