Back
Hemant Prajapati
•
Techsaga Corporations • 9m
I was listening to a podcast yesterday and found this so interesting, I had to share it with you. Okay !! Now !! . Let me tell you a story about Raj. He wanted to buy a house, so he took a ₹30 lakh home loan. The interest rate was 8%, and he had 30 years to pay it back. Sounds okay, right? But guess what? After 30 years, Raj ended up paying nearly ₹90 lakh! 𝗛𝗲𝗿𝗲’𝘀 𝗵𝗼𝘄 𝗶𝘁 𝗯𝗿𝗲𝗮𝗸𝘀 𝗱𝗼𝘄𝗻: 𝗟𝗼𝗮𝗻 𝗔𝗺𝗼𝘂𝗻𝘁: ₹30 lakhs 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗥𝗮𝘁𝗲: 8% 𝗟𝗼𝗮𝗻 𝗧𝗲𝗿𝗺: 30 years 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗘𝗠𝗜: ₹22,000 𝗖𝗮𝗹𝗰𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀: Total EMI Paid in 30 Years: ₹22,000 x 12 months x 30 years = ₹79,20,000 Total Amount Paid: ₹79,20,000 (EMIs) + ₹30,00,000 (Principal) = ₹1,09,20,000 Raj borrowed ₹30 lakh, but paid back ₹1,09,20,000. That’s almost three times the loan amount! 𝘛𝘩𝘪𝘴 𝘩𝘢𝘱𝘱𝘦𝘯𝘴 𝘣𝘦𝘤𝘢𝘶𝘴𝘦 𝘰𝘧 𝘤𝘰𝘮𝘱𝘰𝘶𝘯𝘥𝘪𝘯𝘨 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵. 𝘠𝘰𝘶 𝘥𝘰𝘯’𝘵 𝘫𝘶𝘴𝘵 𝘱𝘢𝘺 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵 𝘰𝘯 𝘵𝘩𝘦 𝘭𝘰𝘢𝘯; 𝘺𝘰𝘶 𝘱𝘢𝘺 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵 𝘰𝘯 𝘵𝘩𝘦 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵 𝘵𝘰𝘰. 𝘐𝘵’𝘴 𝘭𝘪𝘬𝘦 𝘢 𝘴𝘯𝘰𝘸𝘣𝘢𝘭𝘭 𝘵𝘩𝘢𝘵 𝘨𝘦𝘵𝘴 𝘣𝘪𝘨𝘨𝘦𝘳 𝘢𝘯𝘥 𝘣𝘪𝘨𝘨𝘦𝘳. 𝗦𝗼, 𝘄𝗵𝗮𝘁 𝗰𝗮𝗻 𝘄𝗲 𝗹𝗲𝗮𝗿𝗻 𝗳𝗿𝗼𝗺 𝗥𝗮𝗷’𝘀 𝘀𝘁𝗼𝗿𝘆? 𝗥𝗲𝗮𝗱 𝘁𝗵𝗲 𝗙𝗶𝗻𝗲 𝗣𝗿𝗶𝗻𝘁: Always understand your loan terms. 𝗔𝘀𝗸 𝗳𝗼𝗿 𝗟𝗼𝘄𝗲𝗿 𝗥𝗮𝘁𝗲𝘀: Try to get the lowest interest rate possible. 𝗣𝗮𝘆 𝗠𝗼𝗿𝗲 𝗪𝗵𝗲𝗻 𝗬𝗼𝘂 𝗖𝗮𝗻: Extra payments can reduce the total interest you pay. Let’s make sure our dream homes don’t turn into financial nightmares. Stay smart with your money! #FinancialTips #HomeLoans #InterestRates #SmartBorrowing #PersonalFinance #MoneyMatters #LoanAdvice #FinancialLiteracy #CompoundInterest
Replies (1)
More like this
Recommendations from Medial
Chamarti Sreekar
Passionate about Pos... • 8m
Wedding Loans: Matrimony's Genius Move 💍💸 Matrimony.com just launched WeddingLoan.com, offering loans from ₹1L-₹1Cr with EMIs up to 30 years! This bold step dives into India’s $130B wedding industry—the 2nd largest after food & grocery. Why this
See More
Aditya Arora
•
Faad Network • 1m
Started from a village in Tamil Nadu and built an 8500 CR company. 1. Born in the rural foothills of Pachamalai in Tamil Nadu, Arulmany Duraiswamy used to manage oilseeds orchards, helping villagers overcome financial gaps. Honing his knowledge furt
See More
Aditya Arora
•
Faad Network • 3m
Started from a village and built a hospital worth 80,000 CR. 1. Born in Aragonda, a small village in Andhra Pradesh, Prathap Chandra Reddy's early life was shaped by a desire to heal. After completing his MBBS at Stanley Medical College, he became
See More
Aditya Arora
•
Faad Network • 7m
Meet the woman who had an accident at 24 and built a 3500 CR business. 1. When Kainaz Messman was 16 and on a trip to France, she decided to dedicate her life to making pastries. After studying at the prestigious Oberoi Centre of Learning & Developm
See More
Aditya Arora
•
Faad Network • 10m
Meet the man who built India's third-largest bank worth 45,000 CR. 1. Born into a 60-member Gujarati joint family, Uday Kotak used to stay in a single house with his family, who shared one kitchen. He worked hard and studied master's at the Universi
See More
Download the medial app to read full posts, comements and news.