Often, people take on home loans to complete their dream home. But after taking out a home loan for many years, we lose a huge amount of money. Even if the EMI is paid regularly every month, none of them will go to auction. That means half of the amount you pay goes into interest. Here are some suggestions on how to look or get an solution for KSFE home loans.
30 lakh if taken at 9% interest rate for a period of 20 years. The annual payment is Rs. 3,23,901. Now you have to pay Rs 16,19,507 for a lap for five years. Thus you have to pay Rs 64,78027 for 20 years. Of this, only Rs 34,78027 goes towards interest.Then you know that a large percentage of amount what you pay is going to the interest.
But at the same time, if you opt for a chitty of Rs 15 lakh through KSFE, the maximum is Rs 9 lakh if you call at 40% profit. You can save up to Rs 23 lakh on interest on your loan. Out of this `2.5 lakh will be given as a discount. The loss you incur by exposing the chit is said to be only Rs 3,45000. When you repay the loan, you get a profit of Rs.20,24000.You can watch the video to know more if you want to get accurate calculation.