Much appreciate your efforts. However, you could also add the inflation rate since the loan tenures are long. Any amount of money saved will have it's counter with inflation rate which will change the amount.
Dear Groww team ... we appreciate your effort in building content... please have a content in regional languages / English or with subs in English. since many of us cant understand hindi dho the content was good we miss it..
But there are still majority of people who find it difficult to understand in both Hindi and English languages , I think they should launch content in 22 official languages , I guess then they can deliver the content broadly to each sect of people.
1st you have a job.. Which is not available in India😂. 2nd you have to have money in this high pricing market.. 3rd you have to take care of your health for poisonous food 4th save your money for emergency 5th remaining balance pay loan Last& last you have to live life tension free,,full of joy..which is not possible in this pandemic 😁😁 I just put my thoughts..sorry for anyone who feel bad after reading this comment..but it's a true fact.. Hope everybody in this world stay healthy happy💜
Rather I would pay 8% for home loan and would invest the amount that i was going to pay in extra emi in mutual funds for 15years. Mutual fund will give at least 15%. So i saved 15-8=7% and along with that i would save income tax also that too around 10%.
How would you save income tax?? You would rather pay tax on mutual fund earnings and rather would get deduction under 80c and house property for interest and principal respectively.
paying extra Emi yearly or increasing emi amount decreases the repayment period but one looses the opportunity to invest that extra somewhere else and earn extra,I think this has't been factored in the calculation shown in video.
Dude you can't be sure about earning returns more than the interest rate. And more than that earnings could get taxed as well and if it's a housing loan you will tax deduction for principal as well as interest. So it's always smarter to repay than to invest it elsewhere.
Dear Groww, We are from Tamil Nadu which is the southern part of India. We don't know Hindi. I saw you have created channels for other languages. Thanks for that. Likewise, create another channel for Groww-Hindi and post Hindi videos on that channel. Don't mix Hindi videos in this channel. You don't even mention that content is in Hindi in the title. At least you are supposed to add English subtitles.
Yeh toh ek basic topic hei, jithna jaldi paise denge uthna kam paisa lagega home lone ya koye bbi loan ho. 😀 Agar loan intrest Paise bachana ho toh jithna ho sake jaldi pay kar ko close kar do
Madam everything is good, But in Personal loan they don't give an option for repayment.... Nowadays Banks they don't want common people get rid of that situation...
@@kingofthehill28 bro opt for loan transfer to public sector banks like SBI, you will have 7.5 percent interest rate, check out your loan agreement whether it allows loan transfer or not
Dear Groww Team, Thank you very much. I would be really interested if you could share the resource that helps me create my own loan amortisation charts with 2% EMI increments & extra EMI payments per year. This would help me better plan my finances and loan repayment. Thank you very much once again.
what you are saying is only profitable in home loan (and you have to take future value of money into calculation) and in other loans they will charge you 4% or more if you want to pay your loan faster.
But extra EMI and per year increase EMI these concept not acceptable to bank, if they accept the same they charge pre-payment charge, and this is also 3% of outstanding is this strategy beneficial to borrower.?
for example- In 1st year my EMI is 10,000 and i increased it by 5% which will be 10500 in next year. Do i need to go to the bank and changed the EMI to 10,500 or i just need to pay 10,500 without changing my EMI amount.
May be this strategy is good for big business or national level. But you needs to first check the Market. For every extra amount and to increase the emi amount bank charges seperately for that also which is huge loss. Also every year income is not increased just to pay the EMIs.
Small request...India is diversified with different languages... Basically I am from kerala..Using malayalam as mother tongue... Please try to communicate in English...
One question I ask in every forum which posts this kind of video ...should I bother early payment if I am sure of earning return more than rate of interest...let's see if I get answer this time.
Never pay your home loan which has the least interest rate. Instead invest exess amount in mutual funds which gives high return than home loan. In case emergency mutual fund can be used for paying home loan emi
Much appreciate your efforts. However, you could also add the inflation rate since the loan tenures are long. Any amount of money saved will have it's counter with inflation rate which will change the amount.
Dear Groww team ... we appreciate your effort in building content... please have a content in regional languages / English or with subs in English. since many of us cant understand hindi dho the content was good we miss it..
But there are still majority of people who find it difficult to understand in both Hindi and English languages , I think they should launch content in 22 official languages , I guess then they can deliver the content broadly to each sect of people.
Much appreciated. I request Groww to put English subtitles also.
1st you have a job.. Which is not available in India😂.
2nd you have to have money in this high pricing market..
3rd you have to take care of your health for poisonous food
4th save your money for emergency
5th remaining balance pay loan
Last& last you have to live life tension free,,full of joy..which is not possible in this pandemic 😁😁
I just put my thoughts..sorry for anyone who feel bad after reading this comment..but it's a true fact..
Hope everybody in this world stay healthy happy💜
rich takes loans to create assets
poor takes it to create liabilities
But it always recommend to create assets without loans....
Thanks, no advertisements!
Superb and simply explaination in video...👍
An excellent presentation ❤❤❤
Superb guidance
Nice presentation mam...I am a groww user... TNX for update
She missed the main concept of indirect recovery of all interest is by linking it with inv in mutual funds
pehle to grow ki help se hame grow hona hoga tabhi posiible he😁
Such a informative video.. thank you ma'am ☺️
Discuising trophic is very good...
Just awseome.
Beautifully explained! Thank you very much 😊
Very thankful for this ❤️
Super video excellent information maidum thank you main bhi aisa karoga ab
Please keep it up with your new videos maidum
Rather I would pay 8% for home loan and would invest the amount that i was going to pay in extra emi in mutual funds for 15years. Mutual fund will give at least 15%. So i saved 15-8=7% and along with that i would save income tax also that too around 10%.
@harsh verma can u suggest name of any mutual fund?
But in that case principal will not come down and ultimately we are increasincreasing debt
Unfortunately loan is not simple interest. Compounding it will keep increasing the net payable amount
@@dr.yashveeryadav1711 Mirae Asset & Parag Parikh flexi cap.... gives More than 25% return annually
How would you save income tax?? You would rather pay tax on mutual fund earnings and rather would get deduction under 80c and house property for interest and principal respectively.
Best information in future thank👌👌👌
Very nice information
One of the best Video on the Internet today much needed such guidance to handle the finances
Very nice Gunjan
Excellent video with good knowledge
Thanks for good information
Great video 📸
This is why groww is different from others
Thanks a lot ma'am 👍😎
Super explanation mam 🙏🏻🙏🏻🙏🏻
Nicely explained,
Wonderful explanation, Thanks for your valuable suggestions.
nice information
Thank u mem to explain like this 🙏🙏🙏
paying extra Emi yearly or increasing emi amount decreases the repayment period but one looses the opportunity to invest that extra somewhere else and earn extra,I think this has't been factored in the calculation shown in video.
Dude you can't be sure about earning returns more than the interest rate. And more than that earnings could get taxed as well and if it's a housing loan you will tax deduction for principal as well as interest. So it's always smarter to repay than to invest it elsewhere.
Dear Groww,
We are from Tamil Nadu which is the southern part of India. We don't know Hindi. I saw you have created channels for other languages. Thanks for that. Likewise, create another channel for Groww-Hindi and post Hindi videos on that channel. Don't mix Hindi videos in this channel.
You don't even mention that content is in Hindi in the title. At least you are supposed to add English subtitles.
Really Very Informative video, thanks GROWW
Learnt a lot
Nice.... N thanks
very informative
Could be more simple in presentation. Besides, you made you point.
Great work 👏
Thanks for this, appreciated it.
It would have been great if you shares the calcution & formulas for your analysis. It would have helped to calculate on our own
But for personal loan, we don’t have the options of paying part payment or extra payment. Then how we can repay it quickly?
Yes you are right
U can ..from any UPI app
Mam how can i pay extra emis when my emis are fixed and how can i increase them every year? Are both these things under my control?
So cooool gunjan.....
Also do video on credit card loan repayment.
Very nice madam
Great set of suggestions and real good explanation.
Thanks a lot for the video.
Thanks for information
Very nice
Simple, don't take a loan! 😁
Exactly...only home loan has an advantage but that too still the itr provides u the deduction
Great gunjan
It's an humble request
Please do a video on best short term
Fixed deposit with High interest rate
Yes bank fd 7.8 %
FD is a waste of your money and time
Shiriram transport finance 8.05%
@@saurabhdawar1 what is the best way to earn interest?
@@saurabhdawar1 where we can invest?
Yeh toh ek basic topic hei, jithna jaldi paise denge uthna kam paisa lagega home lone ya koye bbi loan ho. 😀
Agar loan intrest Paise bachana ho toh jithna ho sake jaldi pay kar ko close kar do
everyone conveyed you have explained well , but unfortunately unable to understand - can you try the possibility of posting in ENGLISH
Good information but how to pay that extra amount if u hav fix amount of salary
Very good video
Every bank have clause that we cannot pay extra emi for first year,first 4 months,first two year
Check with Public Sector Banks
Groww se lone lene se ki stock sell kar payenge. Plz tell
Hi Mam,
What about prepayment charges?
Translation in English need to share in next videos
Madam everything is good, But in Personal loan they don't give an option for repayment.... Nowadays Banks they don't want common people get rid of that situation...
Never repay your loan, invest extra repayment in savings and it will earn more than your interest rate and you have liquidity.
Savings will not be that much helpful infact loan repayment is more important when the duration is 25 years
Bro i have home loan still 7yrs but i want to clear the total amount will they reduce money? Shriram finance charging me Interest 15%
U need to invest that surplus into an instrument that would generates twice your entire loan interest for the overall period
@@kingofthehill28 bro currently home loan rate is around 7 to 8 percent and you are paying at double rate 15 percent, better to switch your loan
@@kingofthehill28 bro opt for loan transfer to public sector banks like SBI, you will have 7.5 percent interest rate, check out your loan agreement whether it allows loan transfer or not
Hi, I have a query. If I had done the emi on auto deduct from my account, then how should I pay the 2% or 5% extra payment on interest?
I too have the same question
Yes you can do
I did this
Please make a video on best Debt funds.
Bonds , government contract etc
Hello Maam, thx u so much for such a lucrative video hope and wish u will always guide us on same way🤘
Thanx
Good 👍
Conversing in english could help other viewers too.....
Exactly
True..
But india me jyada tar hindi bolne and samajhne wale log rehte hein
Please enable subtitles atleast
English subtitle...?
And ma’am in paying extra EMI , is that going to reduce the total interest as well?
flexi loan is also best option.
Before I watch the content you’re asking for “like” ?? Why ??
The problem is i have a personal loan and i can’t partly close it i have close it in one go. What to do.
Absolute Right.
Dear Groww Team, Thank you very much. I would be really interested if you could share the resource that helps me create my own loan amortisation charts with 2% EMI increments & extra EMI payments per year. This would help me better plan my finances and loan repayment. Thank you very much once again.
Thanks Hindi language
Please provide english subtitles
It makes no financial sense to close HL early nowadays due to low interest rate regime.
Gunjan ji you mentioned about can you guide on how to invest savings for better returns... while housing loan EMIs are on.
Dear friends as per my experience dont go IPO by this .if money will comeback or not no one knows.if u didnot get shares.
what you are saying is only profitable in home loan (and you have to take future value of money into calculation)
and in other loans they will charge you 4% or more if you want to pay your loan faster.
If the loans are not allowing repayments or multiple paymments options, then how to reduce?
invest that money in equity or fixed income security.
Mam plz help me
Mere phone me more options nahi aara hai
Kab aata hai mam more options plz reply 🙏🙏🙏🙏🙏😔😔😔
But extra EMI and per year increase EMI these concept not acceptable to bank, if they accept the same they charge pre-payment charge, and this is also 3% of outstanding is this strategy beneficial to borrower.?
Thanks
Jo extra emi bharenge wo paisa principal se minus hoga kya??
How personal loan prepayment is possible? I took HDFC personal loan and it seems prepayment is not there as per Bank personal
Nice Video!
for example- In 1st year my EMI is 10,000 and i increased it by 5% which will be 10500 in next year. Do i need to go to the bank and changed the EMI to 10,500 or i just need to pay 10,500 without changing my EMI amount.
Mam main yearly extra 4 emi bhi pay kar shkta hu....lekin option kaha milega icici bank account
May be this strategy is good for big business or national level. But you needs to first check the Market. For every extra amount and to increase the emi amount bank charges seperately for that also which is huge loss. Also every year income is not increased just to pay the EMIs.
Ma’am, If I repay the principle amount in advance in larger amount will it reduce my EMI as well?
Small request...India is diversified with different languages... Basically I am from kerala..Using malayalam as mother tongue... Please try to communicate in English...
50 lakh mei se 10 lakh bluechip stock mei dal do or 2 lakh small cap mei phir 5 sal mei four to five times ho jayga.
what is small time ?.. it should be "Less"
One question I ask in every forum which posts this kind of video ...should I bother early payment if I am sure of earning return more than rate of interest...let's see if I get answer this time.
Never pay your home loan which has the least interest rate. Instead invest exess amount in mutual funds which gives high return than home loan. In case emergency mutual fund can be used for paying home loan emi
Subtitle would have been helpful