RUclips is made for these kinda stuff. Thank you so much for educating us. Everyone needs this in a country like India where we do not have Rich Dad to teach us.
@@kksaurab Google have everything… So Why we are studying ? Why we are *craming* ? What's the need of *school/college* ? Why we are paying *lakhs* in educational institutes ?
If you know there are many people who cleared Civil services exams and many competitive exams by studying via internet. If you set your goal then institute and college doesn't matter you can learn from anywhere. 👍🏻
An EMI calculator to account for floating interest rate will be very useful. Most of the home loan borrowers have been using home loan scheme floating interest rate. All EMI calculators available are with fixed interest rate.
@@AssetYogi Welcome Mukul Sir. I would also like to add more to my appreciation. I usually search in youtube for finance and money. Yours is one of the best channel that I have ever encountered. You really take very productive efforts for explaining concept for viewers. Thank You for that
@@blush_aesthetics Because if we pay some amount as prepayment , the principle amount in loan reduces and the bank may loss in interest in future payments
Truly sir, you are making the best videos on financial education which doesn't exist in our Education system. It's truely a blessing for the students like me to have this financial tips. I have gone through many RUclips channels & trust me your are the best. Please keep on the great work Sir❤️👍🏻🙏🏼.
आपका सहृदय धन्यवाद, ये वीडियो बहुत ही ज्यादा लाभकारी है, आपके सुगम तरीके से बताया है की होम लोन लेने के बाद उसका भुगतान कैसे करना चाहिए। I'll really appreciate. Your verbal combinations are outstanding and pronunciation is perfect. Very very Useful video. thank you very much. Keep sharing your knowledge. Bless you.
Please make a video on SBI MaxGain home loan account (with overdraft account). Kindly include a Maxgain emi calculator (excel) where I can input regular deposits and withdrawals like in an overdraft account. Also if the emi calculator can accommodate loan disbursed in parts for properties under construction, where the loan amount is disbursed in parts at different stages of construction but the emi starts from the first disbursement.
SBI Max Gain, HSBC SMART, and other overdraft loans are very helpful in bringing down Interest portion and helps in closing the Home Loan well before the planned date.
1. There is no such best date of month for NPS just the way we have for PF (1st to 5th of month) 2. NPS subscribers eligibility is 18-60 hence pensioners can't invest in NPS. I recently opened NPS account after some research about eligibility criteria n benifits.Hope it helps :-)
In short, your EMI(all) should be utmost 35% of your salary). Pre-payment should be done if you have money. Try to be owner of your home asap(having 51% share) else Bank ll be owner.👌
@@AssetYogi I have query that most banks take up interest amount first (or majorly) then the principal amount. How is that paying extra in between will decrease the interest paid in total.?
You should factor in tax break on interest. So cost of home loan will fall. Then compare this loan with other asset class and take a decision whether to prepay or invest somewhere else.
Sir, I really Like your all videos , Its very informative and clear. You also cover every point. Big Fan , No need to see any other things after watching your videos. Thank you so much!!
Home loan is the cheapest loan available in market and never to forget home is the only asset which you can buy with a loan. 7% to 8% is nothing in todays world where a index can always grow easily at average of 12% to 15% in India. Invest at compounding rate of 26% per year atleast and see the magic you get after 30 years. 10 lakhs of savings can be converted into 100 Crores with help of compounding. Pre-Payment of a home loan should only be done if you think that you can neven generate 8+% annually on your investment.
Option 1) if we take 20years term in home loan, present RI is 8.45, for rs. 2500000/- Total amount paid i.e prl+int is 5200000/_ Additional amount of Rs.12500/- (monthly) or 150000/-(annually) may deposit in PPF for 20year(15 year+5yr Extn) my investment in ppf in 20year is 30,00,000/_ So total paid amount in 20 years is PRL +INT+PPF> 82,00,000/- But I will get PPF maturity amount as Rs. 6400000/- 8200000-6400000=1800000 My expenditure on home is 1800000 only. Option 2 I we invested KVP the amount doubles in 10yr4month 2500000 become 5000000 and 5000000 to 1crore in another 10yr4months the profit around Rs.4800000/ Rate of interest in loan/PPF/KVP as on present rate
Hey nice video, although investing the lumpsum amount in ETFs, IFs is the better option hands down. Even with 8% return you will left with 39 lacs at the end of 10 years, and if we take 12% which generally taken as an average return that value will be 48 lacs. But I get the POV of the video its more of to educate people about finance.
Sir, good if you can include impact of loan on tax savings. Sometimes people don't re- pay their loans as they are getting tax benefits. So a video will help
I think mostly people have their 80C quota full with savings so principle does not matter. On interest you gonna save tax upto 2L/annum which is a maximum saving of 42K/Year. I don't see home loan as a good tax saving instrument
Very very nicely explained, in fact i bought my first home recently in July and i took your guidance through all related videos (thanks a ton), Now after watching this video i have a doubt, in one of the previous video you said that if tax adjusted return on any other instrument is more than the tax adjusted interest on home loan, then no point of doing a prepayment. And here you are suggesting to prepay and close the loan as early as possible (ownership perspective) What should be the priority amongst these two? Confused....plz help
Yes. If you can get better return else where, you can skip loan repayment. But many a times there are not many options to beat tax adjusted loan rates. That's when you should prepay your loans.
@@AssetYogi thanks alot for reply first. Clear now, may be now that the home loan interest is at its bottom, the other instruments can be beneficial. Thank you sir, again. 😇👍
Good Advice....how about take loan of longer tenure with small EMI and keep on paying principal amount every 2-3 months interval? It will have huge impact on overall interest paid on home loan.
@@navneetkumar-ur2he ok but for short tenure your EMI will be more so there will be hardly any savings to pay principal amount on every 2-3 month interval...
@@kapilranade1087 if u dont have money then dont pay extra. Pay only the enhanced emi. The more will be ur emi the less interest u pay and less tenure of loan. Why to wait and save for 3-4 months then pay if u have option to pay every month if u can afford.
The EMI calculator is very much helpful, we can plan our prepayment plan accordingly. I really liked this video and the awareness you spread across. This kind of video helps us very much in our financial planning. Great work and great efforts @AssetYogi.
Thank you for the clear explanation for all Home loan related videos. This is really helpful for home loan budget calculation and investment. Much appreciated ...
It's a simple mathematics that applies to any product you buy from loan. Moreover, car is a liability and in case of you refrain to pay emi after couple of years, you merely get any money from auction
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RUclips is made for these kinda stuff. Thank you so much for educating us. Everyone needs this in a country like India where we do not have Rich Dad to teach us.
Keep learning
Home Loan में Interest पे भारी बचत कैसे करें?
Great information.... Thanks for the EMI calculator
]
⁰
Bro, I have _never_ seen more *knowledgeable* person than *you* !!
Thanks for appreciation 😊
Do Google and calculations you can do it yourself. He is not Gyani.
@@kksaurab Google have everything… So
Why we are studying ?
Why we are *craming* ?
What's the need of *school/college* ?
Why we are paying *lakhs* in educational institutes ?
If you know there are many people who cleared Civil services exams and many competitive exams by studying via internet. If you set your goal then institute and college doesn't matter you can learn from anywhere. 👍🏻
Mradul Bhardwaj kya baat hain sir 👍
Thank you so much you saves my money. After watching your video I did Prepayment most of the amount. Thanks for million dollars advise.
An EMI calculator to account for floating interest rate will be very useful. Most of the home loan borrowers have been using home loan scheme floating interest rate. All EMI calculators available are with fixed interest rate.
D
I agree to this... Floating rate EMI calculator will help us in planning our prepayment
Thanks, Mukul your case study and the way of explanation is too good. your guidance on youtube really helped me a lot since last 1 year.
The EMI calculator is really helpful. Thanks. Wish I had this calculator 20 years back....
Presentation and explanation better than this is nearly impossible.
Thanks for appreciation Amol :)
@@AssetYogi Welcome Mukul Sir. I would also like to add more to my appreciation. I usually search in youtube for finance and money. Yours is one of the best channel that I have ever encountered. You really take very productive efforts for explaining concept for viewers.
Thank You for that
Really helpful started paying additional amount in EMI
Glad to hear that 😊
@@AssetYogi if we pay additional amount why bank charges us..??
@@blush_aesthetics Because if we pay some amount as prepayment , the principle amount in loan reduces and the bank may loss in interest in future payments
Mind blowing Sir all concept is simplified, prepayment is the key.
The best financial knowledge RUclips channel of india
Thanks 😊
@@AssetYogi Sir agar Hume khud ka ghar pai lone lena ho to uska kya interest hota hai please bataye
@@bhartikandera3816 1% jyada home loan se
@@kaushik3995 Ye kon sa banck hai jo 1% se loan deta hai
@@bhartikandera3816 Isko reverse mortgage loan kehte hai. Kisi bhi bank me iske bare me pooch sakte ho.
Great explanation as always. Helped a lot in my idea of prepayment
Keep learning Annu
One of the finest Financial Guidance channel
I always keep on watching your videos
Truly sir, you are making the best videos on financial education which doesn't exist in our Education system. It's truely a blessing for the students like me to have this financial tips. I have gone through many RUclips channels & trust me your are the best. Please keep on the great work Sir❤️👍🏻🙏🏼.
Thanks Yashraj Singh :)
Thank you sir. This Video changed my plans to right direction.
GBU.
Glad to hear that 😊
Such an amazing video , EMI calculator is just amazing as well !! Thank you so much for such clear explanation and useful resource !
You are most welcome
बहुत अच्छी जानकारी है। प्रस्तुति भी बहुत अच्छी है।
Dhanyawad 😊
your videos are always helpful, because of you I started investing in stocks. thanks a lot.
Keep learning Mayank
Very nice video… I haven’t seen any thing so lucid as this video on this topic .
Now I know what to do with my home loan.
Thank you so much.
Thank you Mukul ji for helping us improve our financial thinking..keep going 👌
Keep Supporting Ratan :)
Thanks for the useful information. EMI calculation sheet is very useful to see the interest and principal component which provides the detail clarity.
आपका सहृदय धन्यवाद, ये वीडियो बहुत ही ज्यादा लाभकारी है, आपके सुगम तरीके से बताया है की होम लोन लेने के बाद उसका भुगतान कैसे करना चाहिए। I'll really appreciate. Your verbal combinations are outstanding and pronunciation is perfect. Very very Useful video. thank you very much. Keep sharing your knowledge. Bless you.
EEE ( Excellent Excellent Excellent) 👏👏👏
Thanks for appreciation 😊
Thank you sir, beautifully explained. 🙏
Keep learning Vijay
Your emj calculator is fabulous
Superb work
Keep it up and thnx
This definitely helped me change my perspective..thank you 🙏
You're so welcome!
I very much appreciate your time to make this informative video with so easy calculator. Thanks!!
Keep learning Karan :)
This excel sheet is Very helpful.......👍👍
Thanks
ARE YOU GREAT SIR AND ALL VIDEOS VERY VERY HELPFUL
Keep watching
Bhai you are a very genuine person. God bless you
Thanks 😊
Thanks for sharing calculator
Its really helpful to understand ❤
very well explained. enriched my knowledge. bank was giving me opposite advice for bank interest benefit.
Great 👍
Thank you so much lots of love.
Thanks Sahil
Really appreciate the calculator you have provided easy but use-full thank you ❤
Please make a video on SBI MaxGain home loan account (with overdraft account). Kindly include a Maxgain emi calculator (excel) where I can input regular deposits and withdrawals like in an overdraft account. Also if the emi calculator can accommodate loan disbursed in parts for properties under construction, where the loan amount is disbursed in parts at different stages of construction but the emi starts from the first disbursement.
SBI Max Gain, HSBC SMART, and other overdraft loans are very helpful in bringing down Interest portion and helps in closing the Home Loan well before the planned date.
Please make a video on SBI MAXGAIN HOME LOAN WITH OVERDRAFT ACCOUNT
Thank you so much sir, this video will be very helpful for me, I really appreciate your efforts.
Thanks 😊
Very very absolutly correct in my life and very very thanks Sir for your advice and we are faceing very big problem due to my home loan.
Thanks Tanwar
Pre payment is very good concept to mitigate the risk .
Thank you So much, a great information indeed u hv imparted. It has opened my eyes! Thanks once again🙏🏻
My pleasure 😊
Super video sir . This video is very useful for me, because iam also bought a home loan. So I have idea how to manage my loan . Thanks to lots.
Glad to hear that Prem. Share this video to friends or relatives who currently have a home loan or are thinking of taking a home loan
1)Which date of month is best for investing in NPS to get best return?
2) Is family pensioner are eligible to open NPS.
1. There is no such best date of month for NPS just the way we have for PF (1st to 5th of month)
2. NPS subscribers eligibility is 18-60 hence pensioners can't invest in NPS. I recently opened NPS account after some research about eligibility criteria n benifits.Hope it helps :-)
I like the way you explain things with examples.
Mukul bhai...very informative and Educative Video...Thanks.
Always welcome
Thank you so much for the detailed explanation & EMI calculator.
Most welcome!
You have explained too good.
I don't have any home lone but I will apply it to my car lone.
Thanks 🙏🥰👍
EMI calculator ne bahut help kiya. thank you so much, i am clear with all doubts.
Glad to hear that 😊
In short, your EMI(all) should be utmost 35% of your salary). Pre-payment should be done if you have money. Try to be owner of your home asap(having 51% share) else Bank ll be owner.👌
Z
Thanks for this video, very informative reaĺy needed this thanks again
Thank you so much for this EMI calculator. This is so helpful!
Glad it was helpful!
Sir calculator send me
This is mind opening :)
Thanks Debayan 😊
Bahut badhiya samjhaya aapane
Awesome video. Thanks for video, calculator 🙏🏻🙏🏻🙏🏻🙏🏻
Emi pe loan le 8537836239?.!;
seems like this video was made for me :), thank you.
Keep learning 😊
That was really a great video, full of knowledge tq u sir...
Thanks 😊
Very clear and very good information 👌👌👌
Thanks a lot
Thank you Sir... For educating people financially... Very informative and detailed knowledge 🙏🙏🙏
Keep learning Anishipher
Thank you very much for sharing the most important aspects of loan
Thanks 😊
Thanks Mukul !! Great and simple explanation !!
Beautifully explained sir :-)
Thanks 😊
@@AssetYogi I have query that most banks take up interest amount first (or majorly) then the principal amount. How is that paying extra in between will decrease the interest paid in total.?
For 50 lakh home tenure 30 year interest is 8207762rs and for 15 year interest is 3600868 rs .
Thank you mukul ji for such a wonderful calculator, i wish aap hamari aise hi help krte rahen...
You should factor in tax break on interest. So cost of home loan will fall. Then compare this loan with other asset class and take a decision whether to prepay or invest somewhere else.
Very educative videos . Big applause from my side.
Its a basic common sense. One who can't think of his own should see this video
Thank you so much sir. Your explanation is definitely got me thinking about my home loan🙏
Thank you sir..very helpful video👍
Thanks 😊
Sir, I really Like your all videos , Its very informative and clear. You also cover every point.
Big Fan , No need to see any other things after watching your videos.
Thank you so much!!
Thanks for appreciation Ravi 😊
Thanks for this topic.Someone like you is really necessary to guide in life.
Thanks Shashank :)
Bhai sab doubts clear ho gaye... Thank you❤
Hope you like this video :)
Nice video.. really smart 😀🙌
Thanks Siya
Home loan is the cheapest loan available in market and never to forget home is the only asset which you can buy with a loan.
7% to 8% is nothing in todays world where a index can always grow easily at average of 12% to 15% in India. Invest at compounding rate of 26% per year atleast and see the magic you get after 30 years. 10 lakhs of savings can be converted into 100 Crores with help of compounding. Pre-Payment of a home loan should only be done if you think that you can neven generate 8+% annually on your investment.
Very informative video in simple language with simple explanation 👍
Thanks Rakesh.
Thank you so much sir, I am also planning to buy an independent house. Will take care of this😁
Thanks Sangeeta 😊
10:35 Save 10 min :)
Very useful knowledge.....thank you
So nice of you
you will be my next mentor
Just paid off my second home loan in just 4 years.. what a relief!!!
Can you help me how did you manage two loans n closed one in four years. I am in same situation
I think it is wrong decision, if u invested in PPF(installment) or KVP(one lumsum) your home loan interest will be completely free.
@@vijayamarakala5863 how is that ?
Option 1) if we take 20years term in home loan, present RI is 8.45, for rs. 2500000/- Total amount paid i.e prl+int is 5200000/_
Additional amount of Rs.12500/- (monthly) or 150000/-(annually) may deposit in PPF for 20year(15 year+5yr Extn) my investment in ppf in 20year is 30,00,000/_
So total paid amount in 20 years is PRL +INT+PPF> 82,00,000/-
But I will get PPF maturity amount as Rs. 6400000/-
8200000-6400000=1800000
My expenditure on home is 1800000 only.
Option 2
I we invested KVP the amount doubles in 10yr4month 2500000 become 5000000 and 5000000 to 1crore in another 10yr4months the profit around Rs.4800000/
Rate of interest in loan/PPF/KVP as on present rate
@@vijayamarakala5863 what is KVP ?
Eye opener video.. Thanks a lot Sir!!
Most welcome!
Good presentation Mukul ji apko salute hai sir good.😍😍😍😍😍😍😃😀😁🥳🤗
Thanks 😊
Hey nice video, although investing the lumpsum amount in ETFs, IFs is the better option hands down. Even with 8% return you will left with 39 lacs at the end of 10 years, and if we take 12% which generally taken as an average return that value will be 48 lacs. But I get the POV of the video its more of to educate people about finance.
really sir .....thanks for giving knowledge...in finance ......thanks a lot
Most welcome
Sir, good if you can include impact of loan on tax savings. Sometimes people don't re- pay their loans as they are getting tax benefits. So a video will help
I think mostly people have their 80C quota full with savings so principle does not matter. On interest you gonna save tax upto 2L/annum which is a maximum saving of 42K/Year. I don't see home loan as a good tax saving instrument
One of the finest channels
Thanks for appreciation 😊
Thank u very much sir. I m also planning to take home loan. Prepaymentwala concept amazing.👍
Emi pe loan le 8537836239?.!!
Hi, very informative video. About the home loan, is it the same on pre payment of loans on flats?
Great job sir, lots of love from chankaya juniors😃😃
Thanks Avinash! Hope it helps :)
Great! Knowledgable video. Thank you.
My pleasure!
This is really helpful in today's market . Thank you.
Keep learning 😊
Very very nicely explained, in fact i bought my first home recently in July and i took your guidance through all related videos (thanks a ton), Now after watching this video i have a doubt, in one of the previous video you said that if tax adjusted return on any other instrument is more than the tax adjusted interest on home loan, then no point of doing a prepayment.
And here you are suggesting to prepay and close the loan as early as possible (ownership perspective)
What should be the priority amongst these two? Confused....plz help
Yes. If you can get better return else where, you can skip loan repayment. But many a times there are not many options to beat tax adjusted loan rates. That's when you should prepay your loans.
@@AssetYogi thanks alot for reply first.
Clear now, may be now that the home loan interest is at its bottom, the other instruments can be beneficial.
Thank you sir, again. 😇👍
Super... Thank you for this suggestion 😊
Most welcome
Good Advice....how about take loan of longer tenure with small EMI and keep on paying principal amount every 2-3 months interval? It will have huge impact on overall interest paid on home loan.
It will be more good if u take loan for shorter period and pay principal after every 2-3 months. This will have more huge impact.
@@navneetkumar-ur2he ok but for short tenure your EMI will be more so there will be hardly any savings to pay principal amount on every 2-3 month interval...
@@kapilranade1087 if u dont have money then dont pay extra. Pay only the enhanced emi. The more will be ur emi the less interest u pay and less tenure of loan. Why to wait and save for 3-4 months then pay if u have option to pay every month if u can afford.
Talk about job security factor also and depreciation of rupee over period of time. U r talking about constant factors only.।
I will do my repayment soon...love your video
Good luck!!
The EMI calculator is very much helpful, we can plan our prepayment plan accordingly. I really liked this video and the awareness you spread across. This kind of video helps us very much in our financial planning. Great work and great efforts @AssetYogi.
Thanks for supporting Gaurav 😊
What about prepayments charges and pre closure charges
Pre payment charges free under LIC HFL
They are as low as 1 or 2%
Depending on ur loan interest rate .
Great video sir ji .. 👌👌👌👌 🙏
Keep watching
Thank you for the clear explanation for all Home loan related videos. This is really helpful for home loan budget calculation and investment. Much appreciated ...
Glad you liked it!!
@@AssetYogi Sir excel sheet copy pls
Sir, at first thank you so much for such informative video. My question is simple, will the same thing for car loan also?
It's a simple mathematics that applies to any product you buy from loan. Moreover, car is a liability and in case of you refrain to pay emi after couple of years, you merely get any money from auction
Sir really superb and easily understandable video with excel and it really helpful
Keep learning :)
Though I am watching it late ,very informative...and encouraging.
Inflation ko consider nahi kiya emi me. 20 years baad uss amount ki kya value rahegi