Paying home loan for 30 years? CA explains the hidden trap behind the home loans and the only way to beat it

Homebuyers often overlook the true cost of 30-year home loans. Early EMIs primarily pay interest, not principal. Chartered Accountant Nitin Kaushik explains this structure benefits banks significantly in the initial years. Aggressive prepayment is highlighted as a key strategy to reduce long-term interest payments and loan tenure. Reviewing loan statements and increasing payments when possible is advised.

Raccontata daeconomictimes.indiatimes.com