Repay Home Loan: 6 ways to repay your home loan faster

By Editorji News Desk
Published on | Oct 18, 2023


Look for banks offering lower interest rates and consider refinancing your home loan, which can be beneficial in the long run

Switch to Fixed Rate

Convert your floating interest rate to a fixed one to shield yourself from rising interest rates

Debt Control

Avoid accumulating new debts or defaulting on payments, as these can disrupt your financial planning and impact your home loan repayments

Automatic Payments

Set up automatic home loan payments to ensure timely repayments and avoid penalties

Make Additional Payments

Whenever possible, make extra payments on your home loan, such as weekly or fortnightly payments, to reduce the overall repayment amount

Allocate Windfalls

Use windfalls like tax refunds, work bonuses, or unexpected gains to make additional home loan payments

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