This SIP Trick Can Help You Recover Your Rs 50 Lakh Home Loan!
Home Loan: Instead of seeing a home loan as a burden, you can get back the loan amount, including interest, by making a financial plan. So, what's that technique? Let's find out how to do it now.
The dream of a middle-class person
Buying a house is a middle-class dream. From down payment to EMI, planning is key. The interest paid can exceed the loan amount, but you can reduce this burden with smart investing.
Details of Systematic Investment Plan
It's called a Systematic Investment Plan (SIP). By investing just 10% of your EMI, you can get back the money paid as high interest. For a Rs. 50 lakh loan, you might pay Rs. 54 lakh in interest.
You can make crores
You can easily reduce this. Invest 10% of your EMI (Rs. 4,300) in a SIP. At a 12% return, it can grow to Rs. 65 lakh in 20 years, helping you recover the interest paid.
A disciplined investment approach
A SIP is a disciplined way to invest small amounts monthly. It offers great long-term returns via compounding. Just as banks earn on your EMI, you can earn via SIPs.
You have to balance both smartly..
You must smartly balance both EMI and SIP. This can significantly reduce your home loan burden and also help you build a substantial retirement fund.
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