Don't Pay EMI ❌

Many people don’t realize that their home loan EMI has already dropped — yet they continue paying the higher amount without checking. On June 6, the RBI cut the repo rate from 6% to 5.5%. This means your loan interest rate has gone down by 0.5%. When the repo rate is reduced, banks can borrow money at a lower cost, and in turn, they pass on this benefit to borrowers through cheaper loans. Take this example: If you had taken a ₹70 lakh home loan at 8.5% floating interest for 15 years, your EMI used to be around ₹68,800. After the recent cut, your EMI will reduce by about ₹500–₹700, which adds up to nearly ₹1 lakh savings across the loan period. But if you choose to continue paying the same EMI, your loan tenure will reduce by nearly 10–12 months, helping you save close to ₹3–4 lakh overall. #homeloan #emi #interestrates #finance #savings