Although owning a home is a dream come true, the EMIs associated with a home loan, hefty interest rates, and a lengthy loan term might be intimidating. Coming to your query, can we increase EMI for home loan? Yes, you can ask your bank to raise your house loan's EMI. I have shared the complete details below.
Is It Good to Increase Home Loan EMI in India?
Increasing your home loan EMI can be a smart financial decision, especially if your income has increased or you want to repay your loan faster. While it’s not mandatory, doing so offers several long-term benefits.
Increasing your EMI makes you repay the principal amount quicker. It reduces the overall loan tenure.
A shorter tenure means you pay less interest over time. This can save you lakhs of rupees, based on the loan size and rate.
Committing to a higher EMI ensures you allocate funds toward a productive long-term asset and promotes disciplined saving and budgeting.
Consistently paying higher EMIs on time boosts your creditworthiness and improves your CIBIL score.
I hope you found this helpful.
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Is It Good to Increase Home Loan EMI?
ravi
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7 months
2025-05-13T16:09:13+00:00 2025-05-22T16:16:54+00:00Comment
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