Its everyone dream to own a house. In today’s time, one can achieve this dream by taking a home loan. A home loan generally have a tenure of 20 years. Once you complete all the EMIs, the home is completely yours. But repaying a home loan is a pain, how to minimise this pain. Can there be any best way to repay a home loan.
How does it sound, if you get your loan amount back at the end of loan tenure?
Seems impossible ?
It is possible.
Let’s take an example.
Let’s assume you have home loan of Rs 25 lacs of 20 years and you have an EMI of Rs 22,500.
How to get my Home Loan Refund ?
You have do walk a bit more, you need to start an monthly equity SIP of 0.1% of you loan amount which is Rs 2,500. This is all, and you will get back the loan amount of Rs 25 lacs at the end of 20 years.
You still doesn’t believe this ?
In equity mutual funds, when you invest with long horizon, the history says people have earned a return of 12-15% per annum. If your SIP gives the return of 12.75%, your SIP of Rs 2,500 will create a corpus of Rs 25 lacs in 20 years for you and you get your loan amount back.
It is possible !!!!
Planning makes all the difference. Consult your financial advisor now to get your home loan refund.