Some wonderful facts of financial planning

Some wonderful facts of financial planning

Article Summary…..

Some wonderful facts of financial planning

Effect of interest rate increase on your existing home loan:

Whenever there is increase in your home loan interest, banks keep the emi same and increase term of the loan. Here is an example of loan of Rs. 30 lacs for 20 years @ 9.9% & EMI of Rs. 28752. What will be effect of rate increase of 2% on this loan?

Rate Increase of Home Loan .5% .75% 1.00% 1.50% 2%
Increase of Loan Term 2.73 Years 4.72 Years 7.55 Years 27.09 Years Never End
Total Loan Term 22.73 Years 24.72 Years 27.55 Years 47.1 Years Mothly interest is more then EMI

This situation of uncontrolled loan can be avoided by simply monitoring your loan rate and its effect on your loan outstanding. Generally home loan institutions dont keep you informed regularly, they increase the rate without informing you and when there is reduction in interest, they wait for your letter. If your loan is more than 2 years old, there are possibilities that your rate has increased by nearly 2%. In that case your monthly EMI may not be sufficient to cover the monthly interest on your loan and outstanding loan may start increasing. Check your existing interest rates and take necessary steps to reduce your rate.

You can keep your loans in control by updating your loan details on Planyourworld.org, this will give you customized alerts so that you can protect your home and you dont work for bank only.

Anil Kumar
Anil Kumar
2021-07-12
Thanks from bottom of my heart to Mr. Viplav Majumdar and his team for making such an amazing program
Rahat Jahangeer
Rahat Jahangeer
2021-07-12
I want to recommend this platform to each and every person I know.
Anmol Panday
Anmol Panday
2021-07-12
This is really a mission that Mr. Viplav Majumdar and his team is doing, Because 95% people don't know about this and the rest 5% wealthy people who know about this are not worried about others.
Raj Singh
Raj Singh
2021-07-12
Planyourworld gave me new avenue to explore to streamline my income
Vikram Choudhary
Vikram Choudhary
2021-07-12
Planyourworld has helped on financial plan & how to take care of money plan towards untoward incidents in life.
Manish Nagar
Manish Nagar
2021-07-05
I went through the ebook, I haven’t seen that any advisor tells these things to us
Faizul Khan
Faizul Khan
2021-07-05
I needed some more from Viplav, if he could check my things personally. Later I realised he wants us to learn, so I can do it on my own.
Sudhanshu Singh
Sudhanshu Singh
2021-07-05
I never saw a complete package at this cost. I might have easily paid 25k for this
ankush choudhary
ankush choudhary
2021-07-05
I am already getting my passive income, still enrolled, I know I didn’t know anyone who is interested in me, Viplav and his team really helped me
Nevermore
Nevermore
2021-07-05
The entire package is awesome, I am using it I am satisfied.

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