Save LAKHS while paying off LOANS! | Ankur Warikoo Hindi
ฝัง
- เผยแพร่เมื่อ 9 ก.พ. 2024
- This video comes with notes, check here: bit.ly/3I1gjs1
Download the Excel sheet here: bit.ly/3SHjxqu
When it comes to managing your loans, the question of whether to reduce your EMI or loan tenure can be a tricky one. In this video, I provide a comprehensive approach to understanding the impact of various pre-payment strategies on your overall interest payments and loan duration.
I'll walk you through the intricacies of managing your home loan, emphasizing the significance of early and substantial pre-payments. By the end of this video, you'll have a clearer understanding of how different approaches can help you save on interest and potentially pay off your loan faster.
Don't miss out on this valuable insight into effective loan management. Join me as we explore the options and strategies that can make a significant difference in your financial journey.
#loanmanagement #homeloan #warikoo
------------------------------------------------------------------------------------------------------------------------------
Buy my new book 'MAKE EPIC MONEY' here: amzn.to/3HEShCR
SIP in Stocks with FREE* Demat A/c on INDmoney: indmoney.onelink.me/RmHC/x3g6...
My Money Apps: bit.ly/3Zg56eR
My bestselling books:
‘GET EPIC SHIT DONE’: ankurwarikoo.com/getepicshitdone
‘Do Epic Shit’: ankurwarikoo.com/doepicshit
My gear for shooting this video:
🎥 Sony a7III camera: bit.ly/3M42wAV
🎬 Sony FE 24-70 f2.8 Lens: bit.ly/3KCCiF0
🎙 Shure SM7B Microphone: bit.ly/3O1NAVA
🔆 Fill Light 60W: bit.ly/37aJolP
💡 Key Light 150W: bit.ly/3O9nyjs
📽 Benro IT15 Tripod for Sony a7III camera: bit.ly/3O4PvJ1
Useful links:
20 books for your 20s: bit.ly/WarikooBooks
20 online courses for your 20s: bit.ly/WarikooOnlineCourses
Gadgets that I use: bit.ly/WarikooGadgets
The above links are on Amazon.
If you buy any of these using the above links, I stand to make affiliate income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L and in 2022 we contributed 53L.
Let’s connect online:
🎙 My weekly podcast Woice with warikoo (Spotify): open.spotify.com/show/1g7wpoq...
📩 My weekly newsletter warikoo Wanderings: ankurwarikoo.com/newsletter/
📱 Instagram: / ankurwarikoo
🐦 Twitter: / warikoo
👨🏻💻 LinkedIn: / warikoo
😄 Facebook: / awarikoo
🖋 Daily Blog: ankurwarikoo.com/blog/
Buy my new book 'MAKE EPIC MONEY' here: amzn.to/3HEShCR
My Money Apps: bit.ly/3Zg56eR
My bestselling books:
‘GET EPIC SHIT DONE’: ankurwarikoo.com/getepicshitdone
‘Do Epic Shit’: ankurwarikoo.com/doepicshit
My gear for shooting this video:
🎥 Sony a7III camera: bit.ly/3M42wAV
🎬 Sony FE 24-70 f2.8 Lens: bit.ly/3KCCiF0
🎙 Shure SM7B Microphone: bit.ly/3O1NAVA
🔆 Fill Light 60W: bit.ly/37aJolP
💡 Key Light 150W: bit.ly/3O9nyjs
📽 Benro IT15 Tripod for Sony a7III camera: bit.ly/3O4PvJ1
Useful links:
20 books for your 20s: bit.ly/WarikooBooks
20 online courses for your 20s: bit.ly/WarikooOnlineCourses
Gadgets that I use: bit.ly/WarikooGadgets
The above links are on Amazon.
If you buy any of these using the above links, I stand to make affiliate income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L and in 2022 we contributed 53L.
appreciate you a lot
Link of excel ??
Excel link??
excel link is not working
Banks will hate you for this 😂
I remember I pre-closed my “first car” loan which I took from SBI. I prepaid by any amount (whatever was possible). I didn’t do any such calculations, my simple funda was: if I cannot grow my assets by 8.5%, I will not let my liability to grow in that same rate. 😊 Young professionals are lucky as they have these videos to understand finances.
Was it paid early bro ?
u can easily grow asset by 10%
Course cancel kaise kare bhaai 😢
Loss for older one as these kind of vedios were not there earlier.
Same pinch 🤏
Nobody explains it better than Mr Warikoo. Thanks for the content. Have been learning a lot !
Thank you so much. I had been trying to understand this myself, this video will help me clear my home loan
Today i collect some new knowledge....❤❤❤❤
Thank you sir❤❤
The key takeaways are:
a.) When "compounding" takes on with "compounding" it is only "break-even" that is left as a result.
b.) The additional EMI or increased EMI amount that we pay to the bank in the initial months is "valuable" money vs. "invaluable" or "devalued" money that we keep paying till the term ends (due to inflation).
So, it's a matter of choice what route you wish to go.
If you think you could have invested that extra (valuable) money that you've saved (by not paying to the bank in the initail months) & could have earned more "compounded" profit out of it (compared to what you would have paid to the bank), then yeah that's your call.
Otherwise, it is always a better idea to pay that money to the bank instead to close your loan early.
Nevertheless, excellent content as always! Thanks for dedicating time to record this and share with the audience!
Great explanation on confusion between pre closure of loan vs Investing that same money. 👍🏻
Can you also explain any preferred tactic on how to deal with Banks when the interest rates increase due to changes in repo rate. While I continue to add an additional monthly amount, my tenure keeps increasing increasing. My monthly EMI remains fixed.
@@anuragnigam Although, Im not very sure about it. This may vary bank to bank. But you can ask your bank to fix your interest rate by paying a fixed amount of money. Your interest then turns from floating to fixed. Additionally, the rates are expected to fall in the 3rd quarter this year, anyway. Due to various economic factors. No financial advice, though.
@@anuragnigamif your bank is private like indiabulls, shri ram finace plzz transfer that to any govt. bank . my father was also scammed by indiabulls bcoz they kept on incresing loan tenure every year.. but after transfering to pnb housing loan tenure is same from 2 years..
So effortlessly and swiftly you have communicated such things deeply.. Truly appreciated and inspired.!!!!!
Thank you sir for giving valuable information. I will try to do same practice.
Warikoo ji.. you explained it so nicely, that even a common man can understand and execute. thank you so much for all your help. This helped me plan my finance better. God bless you.. and lots of love.
Ye hui na baat . Awesome calculation sir. Maza aa gaya.
love you sir for providing free financial knowledge which is necessary to each and everyone especially 20's
I adopted this for my Second Home loan and it worked fabulous. Thanks Warikoo 👍🏻
When I need to refer any point from your video, I can just browse and in just a second I can get what I need, don't have to wait on an ad when I'm actually in a rush. At times when ads pop-up while browsing important financial stuff, it is so annoying.
Thank you for not monetizing youtube. You are amazing.
That is why you purchase TH-cam premium 😂
what a wonderful video. Thanks Ankur!
I literally got something new to learn...and it's valuable...thank you sir
The way you explain the things to people is simply amazing. Simplicity is also seen the way you have been handling your followers all these years. Even a non-related person to any subject will be able to understand the video's well. On top, you also share the ❤notes❤ is simply amazing, ❤sir.
Thank you so much Ankur Sir this will really help many borrowers
That's for sharing your thoughts and wonderful finance manging skills and experience.
Thank you Ankur Sir. I recently took a home-loan and this really helps me :)
Thank you so much for making this vid with such ease of explanation. Excel sheet helped too 😃😃
I have been following you sir for couple of months. And thankyou for this information
Thank U a lot Sir.
I will plan accordingly
I was under this dark cloud and can see some light now. Thank you sir
Important Knowledge For Every Person Who Took Loan
Thanks for uploading this video. It was very easy to understand with examples in excel.👍
Thanks my home loan emi is starting frm next month and this will help me alot... Thank you
Thanks you. It's a great video and very helpful tool. Loved your previous version of the tools (EMI Calculator, Payoff vs. invest). In the scenario of a home loan for under construction property, loan amount is distributed in tranches for the period of construction thereby changing the loan amount and the EMI for the first few years (2-3 yrs or so). I would love to see how can that calculation be included in the next iteration of this tool :) As always grateful to your contribution and teachings on personal finance.
❤❤❤Love you, this video was really amazing. Thanks for sharing such an amazing trick
Love the way you explained the calculations transparently and fairly. Also a big fan of channel cause of not being a sponsored channel with ads or asking for details to download sheets for use. BIG SALUTE FROM THE BOTTOM OF MY HEART SIRJI.
Best video for understanding, how to make loan payments efficiently ❤❤😊
This was much needed. Very much useful than previous sheets. Thanks @warikoo
I wish I could know such things 5Y ago when I took car loan.. I was able to repay much of it early but at its last leg.. Past is past, I will use this knowledge for quick repayment of my home loan that I'll be starting soon. Thanks Warikoo ji.
Really great helpful video. It's mind-blowing
Thanks a million sir. This is definitely gonna help me to achieve my goal.
I would thank you for helping me in understanding and saving some money... I saw your same video earlier... Thanks again and my best wishes with you.
You are simply awesome…thank you for all the great work you are doing… 🙏🏻
Very informative kudos to u
Thank you so much for informative video
Thank you, Ankur Sir for detailed video. Although, this is an incomplete video. There are 2 more scenarios that are in the reduced EMI Option. 1) Additional Reinvestment of the reduced EMI amount in the Loan Principal Amount 2) Investment of reduced EMI Amount in equity market (Stocks / MF) at ~12% return.
Also, even if we ignore all of this the amount saved in EMI should also be added in the amount saved in addition to interest. I Agree that this might be less than the Reduce Term option but will provide better clarity to all your viewers. Let me know if I am missing any point in understanding this. Thanks.
That’s a great point. Missed this.
I believe, Ankur was focusing more on the EMI reduction so in that point of view - this is a great video. Ultimately, maximum people who are paying EMIs - don't have additional money to invest so better to re-pay once they have some additional amount which saves lakhs of interest :-).
Sir both points are valid but I still think point no 2 is good to go... Plz make video about it....
Thank you so much for such valuable information 🙏
Ankurji thank you for your simple way to explain intelligent and complex things especially about finance without losing focus and key things ....very grateful for your selfless service...😊
This is the kind of content that NEED to go viral.
Thanks a lot🙏 for the effective explation sirji, found it very simple to understand.... We got a clearity and confidence to repay our loans by saving our heard earned money and time . And the exel file was very much usefull... Thanks again
You made such an informative and helpful video right at time. When I am looking ways to pay off my loan as soon as possible. The biggest Q was reduce EMI vs reduce Tenure?, you solved it for me. Thanks sir.
Thank you for this knowledge content 🙂
I am looking for this type of video. And I got what I wanted to see. Thank you Sir. It is really cleared all my doubts. Now I can go for what I want to do. ❤
Very nice idea ... once again Thank you
Wonderful Sir😊😊😊😊. Absolute help for me 🙏🙏🙏🙏🙏🙏🙏
Thank you sir... For explains this content in common and better way .... Now i am going to pay pre-payment for my loan.... It id really valuable information.....
Hi very informative video thanks for such a content
Hey sir, I really love your content especially when you demonstrate it through Excel for someone to walk through the impact. In reality, the interest rates keep on changing since loans are usually on a fixed lending rate for initial years. Can you please make a video where you share an excel trying to include floating interest rate after years, which I believe would really be really helpful.
Thank you Sir for guidance
This was very helpful! I recently made a pre-payment for my car loan and now I got to verify the maths with this Excel Sheet.
One missing parameter was that, my bank imposed an additional charge on pre-payment which was about 3% of principal. Not sure if the scenario is same for Home Loans.
That'll happen if you foreclose the loan, not on prepayments I think.
Amazing informative video Ankur, thanks a lot for this video.
Much needed and excellent content
Helpful calculator. Thanks.
Great video by the way. Best advise is don't buy a house on loan. Stay on rent, you'll save more than it is mentioned in this video. Better to spend on your lifestyle, health and personal growth.
Reasons you should not buy a house:
1. There's no guarantee of life and nobody can predict if you'd be alive for next 25 years.
2. If you think you'll buy house for your future generation then first think that are you staying in the same house where your father and grandfather used to live. Your next generation will be capable to pay their own bills.
3. You can use the same money to invest somewhere so that you can have a secured retirement.
4. There are many more reason to not to buy a house. This is a big middle class trap.
Many billionaires still live in a rented house. Nobody will tell you this hack.
billionaires live in rented house becz they loads of money, but not middle class. Owning a house for a middle class family means a lot; rather spending rents for 30 K you can just pay the same amount to own a house
Thankyou so much sir great video💗
I was 100% sure that after finish watching this video , there won't be any such excel link in the description .And see that's exactly it is 😄
Excellent sir my mind was block good information
Very informative
Looking forward to to take a home loan from bank and i am gonna use this formula
Thanku so much ❤..it really helped
Superb info...thnx bro
What a simple yet GREAT content ! Specially that point when one pays extra EMI amount every next year.
Thanks Wariku sir. Sir, you are looking frail. Best of Luck.
Great video to understand how to save money on loan repayments. 🙏🏼🙏🏼👏🏼👏🏼
classes.....keep it up sir! all the best !
Thank you sir, best trick
First time it felt like the video was super useful
Thank you i have already started my journey to save lacks
Amazing guidance sir❤
Really nice work 🎉
Easiest way to explain 👌👍
Thank you so much Sir, very useful 🙏👍
Thank you. But there is a prepayment charges which needs to be calculated as well.
Great video Ankur sir...
very good learning
Thank you a lot sir your video was really helpful
Sir i have lot respect for you because you are the only creater who actually sloves problem. My parents just planning to buy a house but as my parents are old and they don't know much about finance things so it always been a my responsibility to know which thing will work best for us through your video i gather really important information about finance and life I'm just 19 years old but because of you i understand one thing very early in life is if i wanna be someone who improve his life first i have to fix finance.( I don't know if you gonna read this but you mean a lot sir😊.)
Thank you so much sir ❤❤❤
Good job sir ,I follow u r rules.
This is such a great video and a eye-opener to save our hard-earned money from loans. Thank you tremendously for making this video and sharing the spreadsheet. :)
Thank you @warikoo. This excel sheet I have been looking for quite some time now. This is really very helpful.
Thanks again!! 👍
Mera download nhi ho rha plz help
I'm not able to alter any information it says Read Only option is active??
Thankyou so much sir for fantastic video.❤❤
Very useful thanks @
I have started my home loan recently and got a helpful video to save money in future🙌
Very nice Video sir. I wish our education system teaches us this stuff which is useful in real-life instead of all the useless stuff.
Sir you are best. I am so happy. I go your way. Mostly i m so happy. 😮😮😮
Very Helpful!
Sir mind-blowing plan❤
Same thing how can reduce car loan also please make a video.
Sir really u changed my life my loan interest reduced thanks
Thanks a lot sir ❤
Thanku so much sir ❤
A perfect excel sheet to reply upon for payment strategy. Also, could share the alternative Pre-Payment Strategy sheet as well? Thank you Ankur.
Wow , Thank you Sir
Bhut acha smjh aaya
Thank you so much sir it is very helpful........ as we are going to take our new house loan ❤
You guys are amezing. You saved my lakhs of money. My soulmate who shared the video to me & Amezing you. My heart is thankful for both of you. ❤
Sir please a video on comparison, when we reduce emi and put extra money on sip
Then what will happen and also compare with reduce time and extra money put in sip
Thank you sir aise hi video banao
Thanks alot Baijaan