Skip to main content


Paying monthly installments on time for your loans boosts your creditworthiness and minimizes the chances of default. Any default can charge you penalties from the lenders, and affects your credit score adversely. The maximum repayment tenure offered by the lenders regarding home loan is usually 30 years. One may also get flexibility in terms of selecting the tenure as per his/her convenience. A Home Loan EMI consists of two components, principal and interest. The interest component is higher in the starting phase but towards the latter half tenure period, the principal component is higher than the interest component. This means higher will be your EMI; lower will be your interest rate. So that was all about paying EMIs, but are you aware of the few benefits of repaying higher home loan EMI.

1. Saving on the Interest Component
Savings on interest component is one of the major benefits of paying higher installments towards your "Home Loan". This monthly amount has a direct impact on the interest expenses of your home loan.  As if higher will be the EMI, fastest would be the repayment, and lower would be the total interest expenditure. You can also use an online Home Loan EMI Calculator to have a clear idea about your total cost and the estimated EMI which you can afford to pay.

2. Fastest Repayment of the Loan
Paying a higher monthly installments ensure a fastest repayment of your home loan. Repaying a loan quantum early not only makes you stress-free but also gives you the confidence of being financially stable. Repaying a higher EMI may require you to cut down your lifestyle expenses but it’s totally worth.

3. CIBIL Score
This is another benefit of expanding your Loan EMI as your credit rating improves when you repay the loan before tenure period and makes you trustworthy for future borrowings as well. A higher EMI sum reflects your money related capacities. This is profoundly looked for after quality by lenders for evaluating your financial soundness for any other type of loan that you require.

4. Tax Benefits
Tax benefits on Home Loan repayments are one of the important factors about which most of the borrowers are concerned. The benefit availed is against the principal component as well as interest component of your Home Loan EMI separately.  In many cases, customers are unable to maximize the benefits available as they are paying a lower EMI. Therefore, opting for a higher EMI, a borrower can maximize the tax benefits available.

5. Proper Utilization of Funds
You can increase your "Home Loan EMI" amount when you have surplus funds. So, these funds through any source are the best way to utilize them by increasing your home loan EMI. It will give you several benefits and you will be utilizing your funds in the proper place where you will get good returns of it. For instance, if you have funds and you invest it in shares then it will not give you the same result as an early home loan repayment will do.

Repaying a higher EMI has above mentioned benefits, so whenever you are having surplus funds, then consider increasing the EMI resulting in financial freedom and a worry-free life ahead.


Popular posts from this blog


In India, being a developing country every year many start-ups are launched and operated successfully. There are really a great number of young people who come up with an excellent business ideas every year. But most of businesses fail and the main reason behind it is the lack of funding. Nowadays, banks and other financial institutions become more stringent in the eligibility criteria to sanction a business loan. And to "Make Your Business Loan Successfulyou need to provide a stack of documents to the lender. Then the lender verifies your documents and takes 30 to 40 days to disburse the loan. So the parallel way of business funding is ShubhBank. Our aim is at funding your dying business but our way of functioning is different from other traditional lenders. We provide easy business loans for small and medium-scale enterprises with progressive vision.
ShubhBank have different process of gauging the loan eligibility than traditional banks and financing companies. Lenders d…


Credit Cards epitomize modern lifestyle in terms of convenience a d have emerged as one of the fastest ways of carrying out transactions. Those days are gone when having a magic plastic card and flaunting it among your relatives and friends was a symbol status. With a view to increased acceptance, many banks and NBFCs have been offering various additional rewards and benefits with credit cards. As the cashless transaction becoming more and more common, everyone has a credit card, either a middle class man or a high net worth individual. There are host of card options available in the market having variety of features linked to them. The most popular and reliable ones are entertainment credit cards, shopping cards, fuel cards, cash-back cards, premium cards and business credit cards. They provide rapid access to money anytime and anywhere, so are the handiest asset you can have. They has emerged as viable alternative to currency notes providing access to covering expenses on the go and…


Nowadays, the coronavirus outbreak has affected our lives in countless ways. The deadly virus has made its presence felt in everyone’s personal and professional way such as from shopping groceries, socializing with people or commuting to workplace. It has also a negative impact on the country’s economy leading to widespread layoffs and pay cuts that have taken a toll on salaried individuals. If you are also a salaried employee and facing a loss of income then ShubhBank have stepped in with few options to guide you that how to overcome a money crisis amid "Covid-19 Lockdown". We are happy to help you over this financial crunch by offering Loan against Insurance Policy and online Personal Loan to raise funds.

Online Personal Loan:
many banks and NBFCs have rolled out many personal loan offers for existing customers and who hold salary as well as pension accounts in their financial institutions in this lockdown period. You could also take the advantage of "Online Perso…