Soften The Blow

In the last couple of years, interest rates hit rock bottom with the Reserve Bank of India (RBI) and the government focused on infusing liquidity in view of the Covid-19 pandemic. As such, home loan borrowers became used to paying less for their biggest assets—their homes. It’s no secret that your house will now cost you more with home loans becoming costly and expected to only become costlier going forward. The storm has only started and it’s only a matter of time before it hits harder. While you cannot  escape from paying more for your home loans now, you can soften the blow of the rising interest rate storm. Pay a little extra either through part prepayment or increased equated monthly instalments (EMIs), and to be able to do that, sync your lifestyle with your cash flows and save more. Changing Tide It’s important to understand that interest rates will...