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.
CZcams 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. 👍🏻
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 :-)
@@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 CZcams channels & trust me your are the best. Please keep on the great work Sir❤️👍🏻🙏🏼.
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.
I have been following most of your videos and I must say, Sir your knowledge of a given topic & ability to present it in simpler words are simply awesome. Thanks for educating people financially. :)
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.
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.👌
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.
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
Sir agar kisi startup ko koi kharid leta hai to uska finance ko kis type se distribution kia jata hai founder aur co founder ko agar koi badi company aquire karti hai tab please iske bare me ek video bana dijye🙏🙏
Fabulous video sir Main aapka die hard fan ho gaya 🙏🙏🙏🙏🙏🙏🙏🙏🙏 ye thought process main jab sochta tha to ye hi lagta tha ke galat soch rha hu aisa nahi hota hai but aap ne jis tarah se bataya mujhe khud pe 200% believe hua ke maine bhi jo decision liya hai wo sahi hi liya hai
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.
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, 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!!
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
Highly impressed by this calculator sir, kindly provide the same calculator for bank staff whose repayment calculation is based on Simple interest with pre payment field
Your emi calculator is awesome. I just want to add one thing if you can add a column of variable RoI also. As my RoI is changing quarterly and exact calculation for the outstanding principal is nearly impossible to calculate
Very informative video. One question. If the loan term is 15 years, and because of frequent prepayments, the loan is paid in 10 years, does the bank charge for early loan closure?
Sir kuch lumsum invest side me kare suppose divident wale mf me usme se Jo income Aaye aur thoda salary me se Aaye ESE EMI bhare to is it good thought??
Last year se dividend are taxable in hands of investors. This means jo dividend income apko milegi use apko apke slab rate se tax bharna hoga .. doesn't seem a viable option
@@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.?
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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
CZcams 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
Thank you so much you saves my money. After watching your video I did Prepayment most of the amount. Thanks for million dollars advise.
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 👍
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.
Thank you Mukul ji for helping us improve our financial thinking..keep going 👌
Keep Supporting Ratan :)
Mind blowing Sir all concept is simplified, prepayment is the key.
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 :-)
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
बहुत अच्छी जानकारी है। प्रस्तुति भी बहुत अच्छी है।
Dhanyawad 😊
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.
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
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 CZcams channels & trust me your are the best. Please keep on the great work Sir❤️👍🏻🙏🏼.
Thanks Yashraj Singh :)
The EMI calculator is really helpful. Thanks. Wish I had this calculator 20 years back....
One of the finest Financial Guidance channel
I always keep on watching your videos
The best financial knowledge CZcams 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.
For 50 lakh home tenure 30 year interest is 8207762rs and for 15 year interest is 3600868 rs .
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
This definitely helped me change my perspective..thank you 🙏
You're so welcome!
your videos are always helpful, because of you I started investing in stocks. thanks a lot.
Keep learning Mayank
Thank you sir. This Video changed my plans to right direction.
GBU.
Glad to hear that 😊
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.
ARE YOU GREAT SIR AND ALL VIDEOS VERY VERY HELPFUL
Keep watching
I have been following most of your videos and I must say, Sir your knowledge of a given topic & ability to present it in simpler words are simply awesome. Thanks for educating people financially. :)
Thanks for appreciation, keep learning Ashwin 😊
No
Great explanation as always. Helped a lot in my idea of prepayment
Keep learning Annu
very well explained. enriched my knowledge. bank was giving me opposite advice for bank interest benefit.
Great 👍
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.
Thanks for the useful information. EMI calculation sheet is very useful to see the interest and principal component which provides the detail clarity.
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
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
I like the way you explain things with examples.
Pre payment is very good concept to mitigate the risk .
Sir I am a banker but mere finance ke guru aap ho. Life me aapse personally milne ki tamanna hai. Sir you are great mentor. Dil se pranaam.
Thankyou soo much for your support keep learning :)
Kaha the bhai abtak tum. i have 1st time seen your video, its very benefitial and informatic
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
I very much appreciate your time to make this informative video with so easy calculator. Thanks!!
Keep learning Karan :)
Bhai you are a very genuine person. God bless you
Thanks 😊
Bahut badhiya samjhaya aapane
EEE ( Excellent Excellent Excellent) 👏👏👏
Thanks for appreciation 😊
Talk about job security factor also and depreciation of rupee over period of time. U r talking about constant factors only.।
Thank you mukul ji for such a wonderful calculator, i wish aap hamari aise hi help krte rahen...
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.
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 ?
Sir agar kisi startup ko koi kharid leta hai to uska finance ko kis type se distribution kia jata hai founder aur co founder ko agar koi badi company aquire karti hai tab please iske bare me ek video bana dijye🙏🙏
Really appreciate the calculator you have provided easy but use-full thank you ❤
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 .
You have explained too good.
I don't have any home lone but I will apply it to my car lone.
Thanks 🙏🥰👍
Hi, very informative video. About the home loan, is it the same on pre payment of loans on flats?
Fabulous video sir
Main aapka die hard fan ho gaya 🙏🙏🙏🙏🙏🙏🙏🙏🙏 ye thought process main jab sochta tha to ye hi lagta tha ke galat soch rha hu aisa nahi hota hai but aap ne jis tarah se bataya mujhe khud pe 200% believe hua ke maine bhi jo decision liya hai wo sahi hi liya hai
Thank u very much sir. I m also planning to take home loan. Prepaymentwala concept amazing.👍
Emi pe loan le 8537836239?.!!
I saved 17L on 15L homeloan of 20 years by pre-paid all in 6 months.
Sir prepayment pe bank bhi koi cahrges leta hai kya?
@@Boyfromearth1 NO
@@vikash121sk ok thanks
Nahi
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. 😇👍
Sir really superb and easily understandable video with excel and it really helpful
Keep learning :)
I will do my repayment soon...love your video
Good luck!!
Its a basic common sense. One who can't think of his own should see this video
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.
Your emj calculator is fabulous
Superb work
Keep it up and thnx
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
That was really a great video, full of knowledge tq u sir...
Thanks 😊
Thank you sir, beautifully explained. 🙏
Keep learning Vijay
Thanks Mukul !! Great and simple explanation !!
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 😊
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
Thanks for this topic.Someone like you is really necessary to guide in life.
Thanks Shashank :)
Bhut kuch Mila is video me sikhne ko
Very nicely articulated with good audio visual presentation, kindly also include benefits from income tax in different income slabs.👍
Thank you so much sir, this video will be very helpful for me, I really appreciate your efforts.
Thanks 😊
Thank you so much lots of love.
Thanks Sahil
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
lovely bro thank u i needed this calculator for long. keep it up i needed this prepayment option
Thank you so much sir. Your explanation is definitely got me thinking about my home loan🙏
Highly impressed by this calculator sir, kindly provide the same calculator for bank staff whose repayment calculation is based on Simple interest with pre payment field
How to edit my data into the calculator
Thank you so much for the detailed explanation & EMI calculator.
Most welcome!
This information and the calculator is very helpful. Thanks a lot.
You are welcome!
Sir Thank you so much , lots of love and best wishes
from Pune
Thanks 😊
Your emi calculator is awesome. I just want to add one thing if you can add a column of variable RoI also. As my RoI is changing quarterly and exact calculation for the outstanding principal is nearly impossible to calculate
If internet rate will be changed we r unable to calculate as per ur calculator.
Bhai sab doubts clear ho gaye... Thank you❤
Hope you like this video :)
This excel sheet is Very helpful.......👍👍
Thanks
Very informative video. One question.
If the loan term is 15 years, and because of frequent prepayments, the loan is paid in 10 years, does the bank charge for early loan closure?
Yes
No
Read terms and conditions
No
Thank you So much, a great information indeed u hv imparted. It has opened my eyes! Thanks once again🙏🏻
My pleasure 😊
Mukul bhai...very informative and Educative Video...Thanks.
Always welcome
really sir .....thanks for giving knowledge...in finance ......thanks a lot
Most welcome
Thanks for this video, very informative reaĺy needed this thanks again
Thank you so much sir, I am also planning to buy an independent house. Will take care of this😁
Thanks Sangeeta 😊
Very informative video in simple language with simple explanation 👍
Thanks Rakesh.
Thank you sir
For giving valuable suggestion and make us financial educated in repaying home loan
Eye opener ... Thanks a lot Sir!!
Keep learning Arpit
Love the upgrade in quality of video and audio!
Glad to hear that 😊
Really great explanation sir
Amazed by your explanation
Very helpful ☺️
Thanks Ronak 😊
Very educative videos . Big applause from my side.
Sir kuch lumsum invest side me kare suppose divident wale mf me usme se Jo income Aaye aur thoda salary me se Aaye ESE EMI bhare to is it good thought??
Last year se dividend are taxable in hands of investors. This means jo dividend income apko milegi use apko apke slab rate se tax bharna hoga .. doesn't seem a viable option
@@pawangupta774 k
BB b nn
Thanks a lot, very informative 🙏, please make a video on swite over home loan i.e. kab kare, kyu kare etc ?? 👍
Superb Sir, your way of talking, knowledge, explanation ....... Superb 👍
I like your every video 😊
Thank you so much 😀
Ye to pata h mujhe , I already did prepayment 2 times and saved 6 years and 6lakh.😎😎😎
Thank you Sir... For educating people financially... Very informative and detailed knowledge 🙏🙏🙏
Keep learning Anishipher
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.?
thank u so much asset yogi ji every video is full on content
Thanks Badri Nath
We are very thankful to you for your easy way explanation and understanding
It's my pleasure