Don't make this BIG mistake when taking a home loan or you'll be stuck paying EMIs for life!
Imagine you take a ₹60 lakh home loan with a monthly EMI of ₹55,000. But the bank says you can pay just ₹43,000 instead.
Sounds like a great deal, right? WRONG!
Fast forward 4 years, and guess what?
Your loan principal is still ₹60 lakh! Why? Because you've been paying only interest, not the actual loan amount.
This is the 'Interest-Only EMI' trap, where banks keep making money off you while your loan never reduces!
Imagine you take a ₹60 lakh home loan with a monthly EMI of ₹55,000. But the bank says you can pay just ₹43,000 instead.
Sounds like a great deal, right? WRONG!
Fast forward 4 years, and guess what?
Your loan principal is still ₹60 lakh! Why? Because you've been paying only interest, not the actual loan amount.
This is the 'Interest-Only EMI' trap, where banks keep making money off you while your loan never reduces!
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