Get the EMI Calculator Excel Sheet at bit.ly/warikooemicalculator Download the sheet (clicking on top right corner) and then play around with the numbers. Get insurance advice from Ditto: bit.ly/3xFh7OU
It's a shame that this sort of stuff were never taught to us in schools. This video has been truly helpful sir. I hope this reaches maximum people! Thank you!
@@piyushdogra6720 You can't teach a child to bowl or bat in cricket by just giving him a ball or a bat. You gotta tell him or show what to do with it and how.
Sure Teachers thought all this things during your school time but during that time u don’t have any experience of loan so ur not interested to listen. Please don’t blame teachers... tell your kids to take loan in 5th standard and tell them to pay emi sure they focus more to maths...
Very very helpful using the excel sheet, I took a house just a before for 10 yrs and with the help of your excel sheet I have made a plan to close it by 7yrs, thanks a lot for such financial videos, keep it up.
Beautiful and simple explanation. But now I am 54 years old and lost a lot of money by not following these simple steps, just because of lack of knowledge. I hope youngsters uses it in their planning. Thank you Sir.
Fantastic concept Ankur! I am 53Yr. old now and hence, would like to repay as early as possible, so that I can start investing through Smallcase. By the grace of the almighty I was fortunate enough to subscribe and listen to your teaching sessions. I have also asked my children (21Yrs. & 15 Yrs.) to watch your sessions on Financial Planning. Me and my family has immensely benefited from your sessions. May the Lord Bless You. Prantik Roy, Kolkata.
This. This video opened my eyes. I have an ongoing auto loan and I never knew about these. My loan agent also never informed me of such terms. I cross-verified all these from the bank website and also with my loan agent. All of these are possible. And believe me, this will now help me so much to foreclose my loan sooner. Thank you sir!
Bro auto loan works differently, if you say to the bank that you wanna pay extra emi at the end of the year, they'll adjust it for next month, they'll not reduce the principal amt.
this is possible, I have done this already with SBI by closing loans in 24 month instead of 60, just check with the bank if they have interest free part payment facility.
I wanted to foreclose my auto loan, and that guy across counter told me I have to pay extra for closing it before hand.. 😣 I was like wtf.. I had the full amount, but why to pay extra for closing it before hand.
You can tell he cares more about the audience when he says to watch the video at 1.5x speed. It’ll hurt his analytics, but it shows that he really cares about the viewer the most.
@@adityams1659 unfortunately, it lowers the watch time of the creator, so it can look bad to the algorithm when it seems like someone is watching less of the video. It looks like it didn’t hurt this video though since we all still found it!
Ankur, I can't express how helpful this is. I think about my massive home loan everyday and I just started paying advance EMI's but this made it crystal clear. The impact which just one extra EMI can make is immense. Every home buyer should watch this video. On a side note, i hope banks are not watching this as they would never want their consumers to know this secret. Sharing this with my community. Thanks a lot.
Hello pawan, As you mentioned that you have already paid advanced EMI how much did it effected your loan amount . And doest it work same as explained in the video.?
@@TravelEverywhere25 It works exactly as mentioned in the video and the excel file shared. I regularly make advance payments on my loan. The effect on the load depends upon your loan size tenure and the rate of interest. You can use the excel file to calculate exaclty how much effect it will have on your loan. Its very helpful.
Mr. Warikoo, I have really learnt a lot about finance world from your videos, being a single mother I was little worried about my daughter's future and mine too. But you made it so logical and simple to do practically. You are actually doing a great job by spreading financial awareness in society which is actually required in todays world. SO THANK YOU !!!! More knowledge is always welcomed:)
Help kr do Bhai mere pr 1lakh ka krja hai koi help krdo me use 1 year baad lota dunga plzzz helpp mujhe kuchh samjh nhi aa rha abhi help kr do Bhai plzzzzz🥺🥺
The best video I’ve ever watched so far on, how to handle our debt payments. Shame on our education system. This is the perfect example that shows how lack of knowledge or basic understanding of finances can rip you off. I hope every person who has debt payments would watch this video. Hats off brother🙌🏻
Thanks ankur. The one thing I like about your videos is you dont do any stupid sound effects and stuff and really explain in a good way, plus you have good oration skills.
I never comment on videos, but man, what an insight! I am paying my home loan emis and was looking for ways to pay it off as soon as possible. This is like an eye opener and I will try to implement the strategy of paying one EMI every month. You rock
I feel guilty getting this information without paying anything! You just helped me get rid off one of my long term goals which was to become debt free in another 12 years! As it seems now, I don't need to accumulate large sums of money to prepay my 25 years tenure loan in 10-12 years... Thanks for this!
Debt free need not be the best goal to have if you have taken it for a productive asset. The opportunity cost of your money is what you should consider. You might as well invest in small case now so that you get the max compounding factor. If you wait 12 years to start small case - you will lose compounding years.
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
Thank you soo much Ankur sir!! Your emi calculator helped me take the decison of taking a loan for lesser tenure and with full understanding of how to pay it off quickly without putting too much pressure on our pocket!! Thank you soo much!!!!!
If being a millionaire retiree is your future forte, then keep a close eye on the stock market stakes and ensure that you invest in the right stocks that suit you.
Investing in the stock market is the best option to make a passive income. Virtually all the markets are crazy, most people pay more attention to the shiniest position on the graph, I’m keeping a diversified portfolio.
you should probably seek guidance, I do have an Expert Vivian Klaine Morgan who does the heavy lifting for me, she makes research on stocks, and adds my portfolio with stocks for monthly and yearly earnings.
School , college masti karne ka vakt hota hai. Paisa kamane ki lat us vakt nahi hoti. So hume ye topics bhi us time boar lagenge. Kuch chije vakt hi sikhata hai aur vahi acha hai. School , college me kam log man lagake padhate hai. Aur in sari chijo ki value us vakt hame nahi hoti.
It feels like my big brother is teaching me valuable life lessons from his personal experience. Thank you so much. More power and love to you Bhai.. ❤️🤗
My father taught me these concepts; however, I got the impact of it today. I have seen your video for the first time and I am surely going to subscribe to your channel. Great stuff, so easily explained. Loved the layman's terminologies you used. Cheers!
honestly no words for this video. With simple math how much a one can save. It is my kindly request to you that please keep making such videos thery are totally worth it.
This video was a boon to me! It helped me save around 70 lakhs of interest by making early payments towards principle in the first 2 years itself. Great video Ankur! Made my life a lot easy.
@@hardikbari7552 i dont think bank can stop u from pre paying your loan. i think they would actually be happy that you are paying your loan as soon as possible
You may only save the number of years but what you pay still will be near , if you deposited this prepaid amount to FD WON’T it double in 10 years ? In 20 years it will be 4 x ??? It all depend on interest rates, if you take personal loan then interest is higher so paying faster is important, but if the FD interest and bank loan interest is very near it may not make big difference
Thanks a lot Ankur i had heard of this long back but with your live samples it was much easier to understand.. as always every min spent on your video is worth.
Really fascinating to see how systematically and easily we can repay our EMI's in less time. I do have loans, and I'll be using this method to reduce my loan tenure and close it. Thanks once again.
Bro.. i didn't know why i stumbled upon this video, but you did a fantastic job in helping me understand the need to pay extra EMI in the early stages. Gives strength to my commitment to clear the loan early. Thank you bro. People like you are really needed to help us save hard earned money which is going to banks and thru them to willful defaulters. Pls do share the excel sheet too.
Wow..what an incredible content… Please keep teaching us these types of unknowns which will help us in our life cycle. Thank you very much. Keep going..keep teaching.. Keep smiling.. Best of work!!!
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Wow! The excel sheet is so well made. I was trying to make minor changes to add "pay extra emi every 6 months" instead of 1yr... But after trying a lil realized that I can make a repayment entry on any month and still it'll get calculated. Thanks for such a good explanation and effort. You are a life saver.
Thank God! I watched this on right time. I was thinking about this option (paying some lump sum amount to reduce the EMI) but was unaware of EMI hike. Thanks a lot Ankur for this insightful knowledge share.
I am sooooo Thankful to you for this. My Home Loan has Started and i have already planned to pay 4-6 extra EMI's every year (your video definitely Validates my plan towards repaying my Loan asap), 20 year loan, wish to repay in 8 years). in addition to this Incrementing by 5% also makes a difference. Thanks Soo Much.
@@lakshmansai3302 check with the bank before, for my bank they are not charging any penalty for me! I will just add Money to my loan account. However i will check with them before paying lumpsum! Hope this helps!
I’m glad I am doing this since 2019 with my education loan 😍 thank you for sharing. I was doing it so that i can finish off the education loan as soon as possible. I didn’t know whether it was logical or profitable. But after watching this video I am happy and confident 😇
thank you soo much sir, layman language mai samjhaya aapne. mai khud pareshan tha loan se but now you gave me a path to deal with it. thank you soo much
Thank you so much for explaining it so nicely, I'm just stepping in the co-operate world and been meaning to build house for my family, this will help me a lot to plan these things
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
This team below ⬇️ ⬇️⬇️ of professionals are experts who loves to take on challenges and mostly working on providing quality services to their customers.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
As social media recovery agent, it's a amazing to see how much value and different updates provides in a 10 min getting started. The research, the coding, the script programming and his experience to deliver all this smoothly with less take is truly amazing... I dream of the day I can hire a team to do those accessing for me as they focus on the script and delivery
Good idea. Prepayment of housing loan is practiced by many by a lump sum payment and/or increased EMI as the salary gets increased. However, the video explains very well through EXCEL sheets. Few points to be mentioned here is that 1) Prepayment is good if interest rates are very high compared if interest rates are low. In later case, one could invest in other asset class where return is much higher than loan interest e.g. SIP. 2) The outgo on interest gives benefits on tax outgo. If someone is in 30% tax bracket, then you say income tax on interest (upto Rs 2 lac interest). So, the net outgo on interest has to be discounted by 30% (with cess of 4%).
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
@@ajithkumara7859 It would be more advisiable to reduce EMI , instead of Rerducing tenure (espicially during the initial first 5 years) - Talking from Home Loan point of view only! Benefits ? - Still be able to claim the Tax benefit - SIP returns are always Greater than Home Loan Interest so within few year whenver prepaying Loan (After choosing Redume EMI) you can also transfer the balance to any good SIP mutual fund, it would do wonders with the magical power of Compounding :) !
I paid my 30 years loan in 8 years. When my salary increased, I paid additional amount yearly. Then I asked myself why to wait till year end and pay interest till then. So I asked my bank, can you deduct additional emi per month. They agreed and I paid 50 percent emi extra every month. I also took advantage of lower interest rate due to lockdown.
Hi, do i really need to communicate with the bank regarding prepayment or i can simply transfer the extra emi to my loan account without any communication?
@@adr5754 when you are paying extra amount - you need to choose the right option, don't prepay EMI that will not save you anything - choose the prepayment option.
One key point to note here is that when you pay an amount towards your principal, your bank will reduce your monthly EMI amount by a certain value. They will tend to keep the tenure same. So if you're paying something towards your principal, make sure you mention to the bank to *not* reduce your EMI amount, but to revise your tenure.
@@yogicooldude5958 it doesn't work in real life. check my comment and btw why don't you calculate what happens if you invest these 8000 in the market for 25 years?
Great to see this video... Plz share me this excel sheet. It has created a great positivity in me towards my home loan return. Thank you so much in advance sir. God bless you 🙏
I have been doing the same. Increasing emi by 5k every year. In 2017 my home loan was 25 years. Today in 2021, i have only 7 years left. Plan is to finish it off in 5 years. Its surprisingly easy, and completely doable.
I’m feeling very happy and grateful to Mr. Warikoo to bring this to our notice. I new that my maximum EMI part is going towards interest but never knew that 1 extra EMI or 5-10% increase in EMI per year helps so much ….❤
Thank you so much Sir 💖 you just an amazing Entrepreneur ..and you just mean it .!! Now its very easy to understand my EMI and my personal loan .!! Its really informative and precious for us .!! Thanks again for sharing such golden video !!🎉🎉🤩
Warikoo ji maine ye video apka aj dekha hai kyuki maine abhi 6 mahine pehle hi home loan liya hai. Apko koti koti dhanyavaad karti hu ki apne itni acchi information hamare sath share ki
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
Being successful don' t happen by magic Success is dependent on the action or steps you take to achieve it. Show me a man who doesn't have an investment and I will tell you how soon he'll go broke Investment is building a safe haven for the future: with the right choice of investment that has at least 1% minimum risk and with an Expert guidance, profit and interest should be 700 guaranteed.
NOBODY BECOMES A MILLIONAIRE OR BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRINGS MILLIONS OF DOLLARS AND CONSISTENCY BRINGS BILLIONS. THE MARKET IS ALL ABOUT CRYPTO NOW YOU MIGHT WANT TO LOOK INTO IT
@@futurnekedesin9172 True, there is never any culture of wealth gathering or wealth creation to keep multiplying your finance that lack an investment value. This means, if you have to plan you must be an investor. that's why Investing in crypto stands to be the best
Christelle has greatly enhanced my earnings. It's been 4 years and she earned me my first million through consistent profits from trading. She earned me a trade profit in hundreds of thousand in my first 4 months. My portfolio looks solid than ever.
This holds good only if the interest remains 8% through out the tenure, if the interest rate keeps increasing then we won't be able to apply this math. ING Vysya, Federal Banks and few more banks have one of the worst floating rate slab and they almost trap their customers.
For that problem always ask for a flat rate loan and not a floating rate of interest. Also ensure the documents reflects the flat interest rate applied on your loan account.
You are awesome.....i am gvoing through the same situation and at the right time the right suggestion i got just because of you..... Thank you so much sir....... respectfully 👍
Sir thank you so much, this is really helpful. I would suggest adding an inflation calculator as well to it, as the value of money is decreasing every year, it is cheaper to pay more in the future with more amount rather than paying full now, as you said your self one would be earning more every year because of the inflation, so calculating the value of money in 25 years is also important in this case. it is my intuition rather than paying an extra EMI or 5% more EMI every year if we save that money in gold, and pay it all in 12 to 15 years by selling the gold which we have accumulated in time to pay off the lone would be more profitable.
Hats-off to you Mr Ankur Warikoo. What an eyeopener video and the excel is really helpful. May GOD bless you for your of service and advice to the ignorant lot.
Thank tou for the insights, good to learn. Instead of increasing EMI or repaying one EMI every year, invest that amount in a mutual fund. Then repay the loan at one go. This way we will be repaying the loan quicker. This is because we earn more interest in mutual fund than what we are saving in the loan. Calculate for your self.
Get the EMI Calculator Excel Sheet at bit.ly/warikooemicalculator
Download the sheet (clicking on top right corner) and then play around with the numbers.
Get insurance advice from Ditto: bit.ly/3xFh7OU
Thank You Sir
Thank you sir
I have a car loan with 7 percent simple interest for 15 year so what can i do pay loan Frist or investment in stock market parallel ??
It is view only
Ohh thanks finally I can play around with it
@@tarangmehra520 I am not able to change entry
It's a shame that this sort of stuff were never taught to us in schools. This video has been truly helpful sir. I hope this reaches maximum people! Thank you!
Problem teacher should get the idea of change, transform students.. again they hold principal and reg syllabus sad truth..
Schools teach shit bro
No in school in mathematics there is a complete chapter on compound and interest. Everything can't be taught by school .
@@piyushdogra6720 You can't teach a child to bowl or bat in cricket by just giving him a ball or a bat. You gotta tell him or show what to do with it and how.
Sure Teachers thought all this things during your school time but during that time u don’t have any experience of loan so ur not interested to listen. Please don’t blame teachers... tell your kids to take loan in 5th standard and tell them to pay emi sure they focus more to maths...
Thanks Ankur...I almost paid my 6 yr educational loan in just 2.3 yr with this strategy..😊
Do banks agree to do that?
I was in burden that i have loan tenure 15 yrs
So thank God i saw this vedio and really it made my day 😊
I'll try this process
Thank you sir
Schools really needs this kind of teachers❤
All Indian schools go t and private a seminar on money should be compulsory from 7th std..
Very very helpful using the excel sheet, I took a house just a before for 10 yrs and with the help of your excel sheet I have made a plan to close it by 7yrs, thanks a lot for such financial videos, keep it up.
Bhai har sal ek installment pay kaise krte ho mtlb khud pay krte ho online ja bank ja ke.
Me too trying to close my new loan of 12 years to 8 years so work hard
भाई आपने तो ऐसा समझाया कि एक नया जोश पैदा किया.. मै बहुत डर रहा था, but अभी कोई डर ही बचा नही.. Thank You Sir Jii ❤
Sir AapneExtra Emi pay kiya
"Yaad AA Rahi Hai Banks Ko Meri" was awesome and too true.............
Beautiful and simple explanation. But now I am 54 years old and lost a lot of money by not following these simple steps, just because of lack of knowledge. I hope youngsters uses it in their planning. Thank you Sir.
Fantastic concept Ankur! I am 53Yr. old now and hence, would like to repay as early as possible, so that I can start investing through Smallcase. By the grace of the almighty I was fortunate enough to subscribe and listen to your teaching sessions. I have also asked my children (21Yrs. & 15 Yrs.) to watch your sessions on Financial Planning. Me and my family has immensely benefited from your sessions. May the Lord Bless You.
Prantik Roy, Kolkata.
This. This video opened my eyes. I have an ongoing auto loan and I never knew about these. My loan agent also never informed me of such terms. I cross-verified all these from the bank website and also with my loan agent. All of these are possible. And believe me, this will now help me so much to foreclose my loan sooner. Thank you sir!
Bro auto loan works differently, if you say to the bank that you wanna pay extra emi at the end of the year, they'll adjust it for next month, they'll not reduce the principal amt.
this is possible, I have done this already with SBI by closing loans in 24 month instead of 60, just check with the bank if they have interest free part payment facility.
@@mayank.saxena lucky you😇
I wanted to foreclose my auto loan, and that guy across counter told me I have to pay extra for closing it before hand.. 😣 I was like wtf.. I had the full amount, but why to pay extra for closing it before hand.
this is not any scheme which your agent needs to notify you, its a financial awareness which will help you in long run
You can tell he cares more about the audience when he says to watch the video at 1.5x speed. It’ll hurt his analytics, but it shows that he really cares about the viewer the most.
Playing in speed affects analytics !!!???
@@adityams1659 yes because TH-cam pays for the watchtime playing at high speed reduces the watchtime
@@adityams1659 unfortunately, it lowers the watch time of the creator, so it can look bad to the algorithm when it seems like someone is watching less of the video.
It looks like it didn’t hurt this video though since we all still found it!
He doesn't earn thorough ads! His channel is not monetized
He earns through sponsored contents like Zerodha , IND Money, smallcase etc. Not through TH-cam Ads. This channel is not ad monetised.
Thank you so much for your exel sheet and valuable information..... by this method I have cleared my 5 years loan in only 10 months..... thanks a lot
Ankur, I can't express how helpful this is. I think about my massive home loan everyday and I just started paying advance EMI's but this made it crystal clear. The impact which just one extra EMI can make is immense. Every home buyer should watch this video. On a side note, i hope banks are not watching this as they would never want their consumers to know this secret. Sharing this with my community. Thanks a lot.
Yes. It's so helpful. Now I am gonna start the extra EMI every year
Hello pawan,
As you mentioned that you have already paid advanced EMI how much did it effected your loan amount . And doest it work same as explained in the video.?
@@TravelEverywhere25 It works exactly as mentioned in the video and the excel file shared. I regularly make advance payments on my loan. The effect on the load depends upon your loan size tenure and the rate of interest. You can use the excel file to calculate exaclty how much effect it will have on your loan. Its very helpful.
@NBFC LOAN DP NUMBER👈 Kitna dialoge, train khareedni hai Noida se Lucknow jaane ke liye!
Hi Pawan, just wanted to know if this 1-2 extra EMI will count as paying your principal? Or just extra EMI
Mr. Warikoo, I have really learnt a lot about finance world from your videos, being a single mother I was little worried about my daughter's future and mine too. But you made it so logical and simple to do practically. You are actually doing a great job by spreading financial awareness in society which is actually required in todays world. SO THANK YOU !!!! More knowledge is always welcomed:)
Wow, wonderful knowledge 🙏
Nice
How can I take consultation sir ?
Help kr do Bhai mere pr 1lakh ka krja hai koi help krdo me use 1 year baad lota dunga plzzz helpp mujhe kuchh samjh nhi aa rha abhi help kr do Bhai plzzzzz🥺🥺
The best video I’ve ever watched so far on, how to handle our debt payments. Shame on our education system. This is the perfect example that shows how lack of knowledge or basic understanding of finances can rip you off.
I hope every person who has debt payments would watch this video.
Hats off brother🙌🏻
Thanks man... it was spot on informative and true!! you really made cry !! Thanks a tons !!!!
Wow..right before applying for a home loan..I landed up here.
How amazing❣️
Wish you all the best 👍🏼
Hands down this was one of the most informative content i have seen in a while. Thank you mr warikoo.
Thanks ankur. The one thing I like about your videos is you dont do any stupid sound effects and stuff and really explain in a good way, plus you have good oration skills.
I never comment on videos, but man, what an insight! I am paying my home loan emis and was looking for ways to pay it off as soon as possible. This is like an eye opener and I will try to implement the strategy of paying one EMI every month. You rock
Hi bro, had a small doubt how to calculate "pay extra EMI per year" if I am in 2nd year of ongoing 5 years tenure
@@naimshaik7107 following
Jo dekhaya ja raha yellow mein uspe maat dekho... Open your eyes and see next figure at side
@@ayucareayurvedclinicandpan1847 means?
I want this excel sheet please
I feel guilty getting this information without paying anything! You just helped me get rid off one of my long term goals which was to become debt free in another 12 years! As it seems now, I don't need to accumulate large sums of money to prepay my 25 years tenure loan in 10-12 years... Thanks for this!
Debt free need not be the best goal to have if you have taken it for a productive asset. The opportunity cost of your money is what you should consider. You might as well invest in small case now so that you get the max compounding factor. If you wait 12 years to start small case - you will lose compounding years.
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
Help someone with your expertise. Let this chain of helping others carry on. Cheers
Kindly send me the excel sheet
Big thanks to this team below for your consistent work in assisting my family out off debt and I believe they will keep on doing so
Check them out on google at Badkhencorp com they the real deal
Check them out on google at BadKhencorpcom they the real deal
Thank you soo much Ankur sir!! Your emi calculator helped me take the decison of taking a loan for lesser tenure and with full understanding of how to pay it off quickly without putting too much pressure on our pocket!! Thank you soo much!!!!!
If being a millionaire retiree is your future forte, then keep a close eye on the stock market stakes and ensure that you invest in the right stocks that suit you.
It’s easy to double few dollars in the stock market
Investing in the stock market is the best option to make a passive income.
Virtually all the markets are crazy, most people pay more attention to the shiniest position on the graph, I’m keeping a diversified portfolio.
How possible is it to earn a thousand dollar per month on the stock market?
most stocks in my portfolio are underperforming and there’s too much volatility with key stocks. Which stocks would you recommend I buy?
you should probably seek guidance, I do have an Expert Vivian Klaine Morgan who does the heavy lifting for me, she makes research on stocks, and adds my portfolio with stocks for monthly and yearly earnings.
Financial planning should be introduced as a mandatory in all courses of colleges (at least).
They won't :D beccause this will reveal secrets and people will become more smart
@@PrapullSharma Ek sal ke liye home loan Milta Hai Kya?
School , college masti karne ka vakt hota hai. Paisa kamane ki lat us vakt nahi hoti. So hume ye topics bhi us time boar lagenge. Kuch chije vakt hi sikhata hai aur vahi acha hai. School , college me kam log man lagake padhate hai. Aur in sari chijo ki value us vakt hame nahi hoti.
Yes sir after 55 no work money should come like 50/55 k and just keep calm
Rightly said
It feels like my big brother is teaching me valuable life lessons from his personal experience. Thank you so much. More power and love to you Bhai.. ❤️🤗
Superb Video Sir. I am a regular follower of your videos, all r good, but this one can make a real difference.
I’ll forever be grateful, to this team below for what they did getting me out of debt Thank you .
Check them out on google at Badkhencorpcom they the real deal
Check them out on google at Badkhencorpcom they the real deal
Being a starter in Loan, this is what I was looking for!!!! And your excel sheet is worth having. Thanks for the nice work!!!! Really helps
Thank you so much for this video, from this excel sheet I am able to select best tenure and EMI with min. interest.
This is the power of wisdom when you get it from a right person. Thanks Sir you are making the difference. Keep going.
My father taught me these concepts; however, I got the impact of it today. I have seen your video for the first time and I am surely going to subscribe to your channel. Great stuff, so easily explained. Loved the layman's terminologies you used. Cheers!
This is Indeed EPIC. I am gonna do this for the my home loan too.
honestly no words for this video. With simple math how much a one can save. It is my kindly request to you that please keep making such videos thery are totally worth it.
Mentos is nothing....
Ankur sir jalate h dimag ki batti ❤️💡💡💡💡
This is fantastic. I have been in business for 50 years. This is the first time such a structured repayment plan has been shown to me.
So informative!! , I now understand the power of internet, had our elders know about this, we could lead to such better lives.
Thanks a ton for this!
This video was a boon to me! It helped me save around 70 lakhs of interest by making early payments towards principle in the first 2 years itself. Great video Ankur! Made my life a lot easy.
I did same for my education loan, I always tried to pay more amount than EMI. I almost saved 6 lacs+ in interest and cleared 10 yrs loan in 2.5 yrs.
What if bank does not agree on paying extra emi at the year end? How to convince them
@@hardikbari7552 i dont think bank can stop u from pre paying your loan. i think they would actually be happy that you are paying your loan as soon as possible
@@hardikbari7552 no one can stop you, i did the same, they have to consider it towards Principal Amount
You may only save the number of years but what you pay still will be near , if you deposited this prepaid amount to FD WON’T it double in 10 years ? In 20 years it will be 4 x ??? It all depend on interest rates, if you take personal loan then interest is higher so paying faster is important, but if the FD interest and bank loan interest is very near it may not make big difference
Brilliantly explained. You are doing a fabulous job to give us an insight of wealth creation.
Great information, generally we think about to reduce EMI for saving. But actually it is not saving. It is loss..
Thanks a lot Ankur i had heard of this long back but with your live samples it was much easier to understand.. as always every min spent on your video is worth.
Wow!!! What can I say? Am just truly grateful to you Sir, for sharing this knowledge with us!!
Really fascinating to see how systematically and easily we can repay our EMI's in less time. I do have loans, and I'll be using this method to reduce my loan tenure and close it. Thanks once again.
Why I don't get this video 2 years!!!
This is really helpful!
I watched it with 1x speed. And your idea is very very interesting. Nice explanation also
Bro.. i didn't know why i stumbled upon this video, but you did a fantastic job in helping me understand the need to pay extra EMI in the early stages. Gives strength to my commitment to clear the loan early. Thank you bro. People like you are really needed to help us save hard earned money which is going to banks and thru them to willful defaulters. Pls do share the excel sheet too.
Wow..what an incredible content… Please keep teaching us these types of unknowns which will help us in our life cycle. Thank you very much. Keep going..keep teaching.. Keep smiling.. Best of work!!!
Thank you so much for making this video. I didn't knew this even though the concept was so simple.
Thank you for showing this. This number game has really helped me understand what I could have saved years back. But it's never too late.
This is true knowledge of wisdom to solve the common men's EMI's challenges. Thank you Mr.Warikoo for making the video and sharing the calculator.
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Tysm Sir for your valuable knowledge, time and efforts. 🎉🎉 Specials thanks for excel sheet.
Wow! The excel sheet is so well made. I was trying to make minor changes to add "pay extra emi every 6 months" instead of 1yr... But after trying a lil realized that I can make a repayment entry on any month and still it'll get calculated. Thanks for such a good explanation and effort. You are a life saver.
Thank God! I watched this on right time. I was thinking about this option (paying some lump sum amount to reduce the EMI) but was unaware of EMI hike. Thanks a lot Ankur for this insightful knowledge share.
I am sooooo Thankful to you for this. My Home Loan has Started and i have already planned to pay 4-6 extra EMI's every year (your video definitely Validates my plan towards repaying my Loan asap), 20 year loan, wish to repay in 8 years). in addition to this Incrementing by 5% also makes a difference. Thanks Soo Much.
Does bank add prepayment penalty when we do it? .
Also can you share the process of doing it
Do we have to talk to the bank or if i just pay the extra will it automatically adjust according to the video
@@lakshmansai3302 check with the bank before, for my bank they are not charging any penalty for me! I will just add Money to my loan account. However i will check with them before paying lumpsum! Hope this helps!
@@sTOPzTARINGAlright They should ideally adjust, however, I would check with them before making first extra payment. Hope this helps! Thanks.
Bahut badhiya samjhaya aapne sir thank u very much....mujhe ye exel sheet chahiye ❤
I’m glad I am doing this since 2019 with my education loan 😍 thank you for sharing. I was doing it so that i can finish off the education loan as soon as possible. I didn’t know whether it was logical or profitable. But after watching this video I am happy and confident 😇
Make a video on "how to make such excel sheet for our long term financial planning"... it's amazing skill.
Pankaj bro download home loan calculator from playstore
Thanku sir for wonderful information ek middle class family je liye ye bhout helpful video hai ...
Sir mujhe ye Excel sheet chahiye bahut achha video laga sir thank you sir
You are a great person.
I love you sir
It is in video description
Your reaction for FD - “ I hope not” 😂. Says it all.
Love you sir for this video....
You just added more life to my life ❤
I'm 25 years old and took a home loan of 16 lacs for 25 years(tenure).
, please send me excel sheet
thank you soo much sir, layman language mai samjhaya aapne. mai khud pareshan tha loan se but now you gave me a path to deal with it. thank you soo much
Thank you so much for explaining it so nicely, I'm just stepping in the co-operate world and been meaning to build house for my family, this will help me a lot to plan these things
Keep your positive attitude alive, and never let the enthusiasm in you fade, this is your strength to make that money.keep thanks too this team ⬇️ .
Check them out on google at Badkhencorpcom they the real deal .
Check them out on google at Badkhencorpcom they the real deal .
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
Thanks a lot, even though i know the interest game i dint know that paying an extra emi every year makes a massive difference.
Most helpful lesson available in TH-cam...hats off to the content creator
This team below ⬇️ ⬇️⬇️ of professionals are experts who loves to take on challenges and mostly working on providing quality services to their customers.
Check them out on google at Badkhencorpcom they the real deal
Check them out on google at Badkhencorpcom they the real deal
Banks to Ankur Sir :
Jor Jor se bolke sabko scheme bata de tu
🤣🤣
😂😂
Hahaha
Pls share excell sheet
@Clutch Galt win win for bank how. By getting their money back or something else?
@Clutch Galt naysayers will remain so.
This is math. And math is the truest language.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
Ankur Sir , You are really a great person. Very nice and informative video✍✍✍🙏. Thank You. Learned so many new things.
As social media recovery agent, it's a amazing to see how much value and different updates provides in a 10 min getting started. The research, the coding, the script programming and his experience to deliver all this smoothly with less take is truly amazing... I dream of the day I can hire a team to do those accessing for me as they focus on the script and delivery
Awesome, it is very helpful for us!! Too good, ye to koi bhi nahi batata jo aapne bataya. Thank you so much 🙏🙏
Exactly. People do observe and find a way out but rarely speak!
Asset yogi
He always gets us free knowledge
Good idea.
Prepayment of housing loan is practiced by many by a lump sum payment and/or increased EMI as the salary gets increased.
However, the video explains very well through EXCEL sheets.
Few points to be mentioned here is that 1) Prepayment is good if interest rates are very high compared if interest rates are low. In later case, one could invest in other asset class where return is much higher than loan interest e.g. SIP.
2) The outgo on interest gives benefits on tax outgo. If someone is in 30% tax bracket, then you say income tax on interest (upto Rs 2 lac interest). So, the net outgo on interest has to be discounted by 30% (with cess of 4%).
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
Didnt got the second point
@@ajithkumara7859 It would be more advisiable to reduce EMI , instead of Rerducing tenure (espicially during the initial first 5 years) - Talking from Home Loan point of view only!
Benefits ?
- Still be able to claim the Tax benefit
- SIP returns are always Greater than Home Loan Interest so within few year whenver prepaying Loan (After choosing Redume EMI) you can also transfer the balance to any good SIP mutual fund, it would do wonders with the magical power of Compounding :) !
Thank you sir, this video is truely eye opening and also helpful in how systematically we can repay home loan
I paid my 30 years loan in 8 years. When my salary increased, I paid additional amount yearly. Then I asked myself why to wait till year end and pay interest till then. So I asked my bank, can you deduct additional emi per month. They agreed and I paid 50 percent emi extra every month. I also took advantage of lower interest rate due to lockdown.
awesome
Hi, do i really need to communicate with the bank regarding prepayment or i can simply transfer the extra emi to my loan account without any communication?
@@adr5754 when you are paying extra amount - you need to choose the right option, don't prepay EMI that will not save you anything - choose the prepayment option.
Does it really work it?plz ans
@@irfanafatima9775 yes, works.
We want this exel sheet...💯
It's in description
@@PriyankaSoni2014 it's don't access to edit. how to fix it?
@@mahendrakumar9385 create a copy for yourself and use it
+1
One key point to note here is that when you pay an amount towards your principal, your bank will reduce your monthly EMI amount by a certain value. They will tend to keep the tenure same.
So if you're paying something towards your principal, make sure you mention to the bank to *not* reduce your EMI amount, but to revise your tenure.
Great information, planning to buy new house could you please share the excel sheet
Thanks. But Can U Plz tell if Anybody has Applied this in Reality. And it has Worked..?? 🤔🤔
@@yogicooldude5958 it doesn't work in real life. check my comment and btw why don't you calculate what happens if you invest these 8000 in the market for 25 years?
Great to see this video... Plz share me this excel sheet. It has created a great positivity in me towards my home loan return. Thank you so much in advance sir. God bless you 🙏
I have been doing the same. Increasing emi by 5k every year. In 2017 my home loan was 25 years. Today in 2021, i have only 7 years left. Plan is to finish it off in 5 years. Its surprisingly easy, and completely doable.
Does your bank charges you any,for prepayment and increasing your emi by 5k every year??
@@praneethbudde9363 yes, processing charges. 2-3k.
Share excel sheet
@@praneethbudde9363 sbi will not charge you for that. (I am not employee, fan of SBI, I am just telling my experience and bank rule as of now)
But doesn't this hurt your credit score ?
I wish we had a financial planning subject in school than more than half of India would have been above poverty line. Thanks for the wonderful info.
This is definitely an eye opener... Thank you so much for this knowledge 👍🏽😊
Superb video Ankur...this is your gift to the middle class who are frustrated with the latest budget
I’m feeling very happy and grateful to Mr. Warikoo to bring this to our notice. I new that my maximum EMI part is going towards interest but never knew that 1 extra EMI or 5-10% increase in EMI per year helps so much ….❤
Yes this is eye opener. No one tells this including the Bank that treats us as Customers
@@srinivastrcareercoach why don't you calculate what happens if you invest these 8000 in the market for 25 years?
Thank you so much Sir 💖 you just an amazing Entrepreneur ..and you just mean it .!! Now its very easy to understand my EMI and my personal loan .!! Its really informative and precious for us .!! Thanks again for sharing such golden video !!🎉🎉🤩
Warikoo ji maine ye video apka aj dekha hai kyuki maine abhi 6 mahine pehle hi home loan liya hai. Apko koti koti dhanyavaad karti hu ki apne itni acchi information hamare sath share ki
By this technique i paid my 15 year home loan in 2years. Thanku sir❤
I've just taken a home loan and your magical trick is certainly going to help me plan my finances better - A big shout of thanks to you Ankur Warikoo!
This for those who dont know if we spend 2500 extra EMI amount in SIP with 15prc roughly 25Year can give 81L.Then why woud you add EMI higher Every Year and Bank will not reduce your Priniciple ammount .Loan works in Deminished Model and Better Keep your EMI same and try to invest in SIP Every year with the amount explained in the video you will see the power of compounding with more savings(try to see the increse in income & increase in wallet size) and rather then closing your loan with no additional income .Try this out and correct me if I am wrong.Check
Being successful don' t happen by magic Success is dependent on the action or steps you take to achieve it. Show me a man who doesn't have an investment and I will tell you how soon he'll go broke Investment is building a safe haven for the future: with the right choice of investment that has at least 1% minimum risk and with an Expert guidance, profit and interest should be 700 guaranteed.
NOBODY BECOMES A MILLIONAIRE OR BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRINGS MILLIONS OF DOLLARS AND CONSISTENCY BRINGS BILLIONS. THE MARKET IS ALL ABOUT CRYPTO NOW YOU MIGHT WANT TO LOOK INTO IT
@@futurnekedesin9172 True, there is never any culture of wealth gathering or wealth creation to keep multiplying your finance that lack an investment value. This means, if you have to plan you must be an investor. that's why Investing in crypto stands to be the best
I'm New to Bitcoin and forex trading. Can someone guide me good way of trading
@@futurnekedesin9172 I realized that the secret to making a million is making better investment.
Christelle has greatly enhanced my earnings. It's been 4 years and she earned me my first million through consistent profits from trading. She earned me a trade profit in hundreds of thousand in my first 4 months. My portfolio looks solid than ever.
This holds good only if the interest remains 8% through out the tenure, if the interest rate keeps increasing then we won't be able to apply this math. ING Vysya, Federal Banks and few more banks have one of the worst floating rate slab and they almost trap their customers.
For that problem always ask for a flat rate loan and not a floating rate of interest. Also ensure the documents reflects the flat interest rate applied on your loan account.
Thank you for providing such helpful information and explaining it so clearly. I truly appreciate your efforts.
You are awesome.....i am gvoing through the same situation and at the right time the right suggestion i got just because of you..... Thank you so much sir....... respectfully 👍
Yes surely
Love you Bhai, awesome teaching, God bless you
Sir thank you so much, this is really helpful.
I would suggest adding an inflation calculator as well to it,
as the value of money is decreasing every year, it is cheaper to pay more in the future with more amount rather than paying full now,
as you said your self one would be earning more every year because of the inflation,
so calculating the value of money in 25 years is also important in this case.
it is my intuition rather than paying an extra EMI or 5% more EMI every year if we save that money in gold, and pay it all in 12 to 15 years by selling the gold which we have accumulated in time to pay off the lone would be more profitable.
The tone of your voice makes your knowledge extremely powerful. Keep helping and guiding us, sir. ❤️🙂
Thank you for the calculator, It's really helpful. Though there is a small mistake in the formula in E14 It should be =E13-SUM(F13,C14) Thank you.
Hats-off to you Mr Ankur Warikoo. What an eyeopener video and the excel is really helpful. May GOD bless you for your of service and advice to the ignorant lot.
Thank tou for the insights, good to learn.
Instead of increasing EMI or repaying one EMI every year, invest that amount in a mutual fund. Then repay the loan at one go.
This way we will be repaying the loan quicker. This is because we earn more interest in mutual fund than what we are saving in the loan.
Calculate for your self.
You said correct and by doing this investment in SIP will increase the wealth and no need to close loan faster .
Please share exl