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Learn everything about Pre-EMI home loans

Pre-EMI is a type of home loan offered by lenders in which borrowers pay only the interest on the loan for a certain period of time, usually before the construction of the property is completed.

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Learn everything about Pre-EMI home loans

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  1. LearnEverythingAbout Pre-EMIHomeLoans

  2. UnderstandingPre-EMI Itentailsmakingregularmonthly paymentsontheinterestcomponentsof your homeloan. Itentailsmakingregularmonthly paymentsontheinterest components ofyourhomeloan.

  3. Pre-EMI computation Youcancalculatethisusingthefollowing formula: [PrincipalXInterestRateX(1+InterestRate)^ Tenure]/[(1+InterestRate)^Tenure-1]

  4. Comparison BetweenFullAnd Pre-EMI

  5. Disbursement Fundsaredisbursedinpartsinpre- EMIloans.

  6. TaxAdvantages Youcannotclaimataxdeductionifyour propertyisunderconstructionandyoudonot haveapossessioncertificate.

  7. InterestRateAndPayback Tenure Pre-EMIinterestislessexpensive thanfull-EMIinterest. FullEMIloancanberepaidsooner.

  8. ImpactonLoanVariables The principalrepaymentobligation underfullEMIdecreasesasthe loanprogresses. Thepre-EMIhasnobearingonthe loanamountortenure. 1. 2.

  9. WhenToOPTFor APre-EMILoan? Youexpectariseinyourearnings. 1. 2.Ifyouhaveanyplansforinvesting thedifferencebetweenthefulland pre-EMIamounts.

  10. KeyConsiderationsforPre-EMILoans Ideal for borrowers whoanticipatean increase in income. Theloanburden increases after the completion of the propertyconstruction. Extended EMIs if possession is delayed.

  11. TaxationOnPre-EMI Loans Youareeligiblefortaxbreakson principalandinterestpaymentsonly after receiving a possession certificate.

  12. Pre-EMIloansareperfectforbuyingunder- construction property. It also aids in the effectivemanagementofyourfinances.

  13. WouldLovetohearfromyou. HeroHousingFinanceLtd. 09,BasantLok,VasantVihar,NewDelhi-110057 Tel:18001024145 Email:customer.care@herofincorp.com Website:https://www.herohousingfinance.com/ URL: https://www.herohousingfinance.com/blog/knowledge-series-of- experts/what_is_pre_emi_and_how_it_is_calculated Thanks

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