Home loans Prepayment Terms are harsh!
Hey there, We're the team behind BiteLoan, and we're on a aim to transform the way you manage your loans. We are building a product that can help you prepay loans easily. Please help us with our research and solve the problem. For the initial stage we have build a interest saving calculator, Below is the link kindly check it out Enter your loan details and let us reveal how much earlier you can finish your loan and the whopping amount you save in interest! Thanks for your support
https://bit.ly/interest-saving-calculator
rzr
Stealth
6 months ago
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Indian Startups on
by YashSolanki54
Stealth
Pre-Payment Solution for Loans
Hey there, We're the team behind BiteLoan, and we're on a aim to transform the way you manage your loans. We are building a product that can help you prepay loans easily. Please help us with our research and solve the problem. For the initial stage we have build a interest saving calculator, Below is the link kindly check it out Enter your loan details and let us reveal how much earlier you can finish your loan and the whopping amount you save in interest! Thanks for your support
https://bit.ly/interest-saving-calculator
Mumbai on
by YashSolanki54
Stealth
Are you prepaying home loan?
Hey there, We're the team behind BiteLoan, and we're on a aim to transform the way you manage your loans. We are building a product that can help you prepay loans easily. Please help us with our research and solve the problem. For the initial stage we have build a interest saving calculator, Below is the link kindly check it out Enter your loan details and let us reveal how much earlier you can finish your loan and the whopping amount you save in interest! Thanks for your support
https://bit.ly/interest-saving-calculator
Personal Finance on
by majboormajdoor
Stealth
Do Not Prepay Home Loans!
Hi all, This is in response to a survey I found on the app, where people voted mostly on reducing Tenure by prepaying their home loans. As someone who works in lending myself, and in the light of the funding winter extending a few more Quarters, I would urge people to shore up their finances and keep control of your liquidity. Be very careful when prepaying Home loans: 1. Loan is a service for which interest is a cost. The deciding numbers to prepay are the differential interest outgo (Loan rate-Debt fund rate) / 12 as a proportion of your monthly expense. It comes to around my monthly 1700 Rs for 10L of outstanding. 2. DO NOT look at the total interest outgo. That is a misleading figure. Prepaying loan to save total interest over 10y is like selling your car 10y earlier to save parking costs or selling your TV to save Netflix charges. 3. Prepaying is irreversible. If you run into cash crunch later, most probably, your financial standing and ability to get loans would decrease. Better to not prepay and enjoy the flexibility. Posting the parent link below.
Is it better to
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