Top 5 Strategies to Pay Off Your Home Loan Faster
Short intro: Why paying off faster matters — interest savings, peace of mind.
1. Make regular small extra payments
Even small monthly add-ons reduce interest and shorten tenure.
2. Make a lump-sum prepayment when you get a bonus
Large one-time payments have bigger compounding effect on interest saved.
3. Switch to shorter tenure if you can afford higher EMI
Reducing tenure reduces interest drastically.
4. Re-amortize (if your bank allows)
After prepayment, ask your bank to recalculate EMI/tenure.
5. Use the calculator to test scenarios
Run combinations of prepayment + tenure to pick optimal plan.