How to maximise home loan interest savings

With this amazing HL product, an individual can save a lot on the interest payable under the Home Loan. Below are the key points which creates the BIG difference and savings on HL Interest payable.

Max Savings Home Loan – Key Features Explained:

1. Home Loan Linked to Savings Account: The home loan is connected to the borrower’s savings bank account.

2. Credit in Savings Account Reduces Loan Interest: Any balance (credit) in the linked savings account at the end of the day will be counted as a payment towards the home loan balance. This will help reduce the interest charged on the home loan.

3. Benefit of Lower Interest: The more money the borrower has in the linked savings account, the lower the interest on the home loan. The interest reduction is directly related to the amount of credit in the savings account.

4. Depositing Savings Maximizes Benefits: Borrowers can deposit all their savings into this linked savings account to reduce the interest on their home loan as much as possible.

5. EMIs Paid into Linked Savings Account: The borrower must deposit the monthly loan repayments (EMIs) into the linked savings account.

   
   

In simple terms, the more money you keep in your linked savings account, the less you’ll pay in interest on your home loan, and you can use this account to manage your EMIs too.