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How To Clear Home Loan Faster in India - Strategy to Clear in 10 Years
Original: How To Clear Home Loan faster in India ? | Simple Strategy To Clear Home Loan in 10 Years
Takeaway
Routing salary increments and bonuses into home loan prepayments is the simplest reliable way to close a 20-year loan in roughly 10 years.
Summary
- Walks through Excel-based cash flow analysis for a home loan borrower, splitting income into essentials, lifestyle/discretionary, shopping and savings buckets
- Common middle-class savings rate ~20% is praised but can be boosted to clear loan faster
- Strategy: use annual increments, bonuses and additional cash flow as prepayment top-ups instead of consumption
- Demonstrates how disciplined prepayments via increment+bonus route can shorten a 20-year home loan to ~9-10 years
home loanprepaymentcash flow
Original description
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