Most home loan borrowers want to repay their loans ahead of schedule to reduce interest costs and shorten the loan tenure. However, making prepayments often requires withdrawing money from savings. If ...

Interest is one of the ways lenders make their money, and it’s what makes it worth it for them to give out loans. If you’re borrowing money, interest is the cost the bank charges you for the service.

Home Loan Overdraft: The biggest fear when taking a home loan is the long-term and high interest. This is why people want to prepay the loan as soon as they get the chance. However, one disadvantage ...

Did our AI summary help? Most home loan borrowers aim to repay their loans ahead of schedule to reduce interest costs and shorten the loan tenure. Channelling surplus funds into prepayments, however, ...