So in total, and including principal repayment of Rs 50 lakh as well, you pay the bank Rs 1.05 Cr in 20 years
(2/n)
SIP (Trick) of 1% of the Home Loan amount.
Many call it the SIP trick to compensate for home loan interest.
What exactly is it?
Here is the thread๐งตthat tries to explain this simple idea ๐๐
(1/n)
So in total, and including principal repayment of Rs 50 lakh as well, you pay the bank Rs 1.05 Cr in 20 years
(2/n)
So SIP of 1% of the home loan amount, comes to Rs 50,000 (i.e. 1% of Rs 50 lakh). This is the annual SIP amount.
(4/n)
(5/n)
- At 9% returns, you have Rs 28-29 lakh
- At 10% returns, you have Rs 31-32 lakh
- At 11% returns, you have Rs 35-36 lakh
- At 12% returns, you have Rs 40-41 lakh
(7/n)
(9/n)
(10/n)
(11/n)
Doing SIP of 1% of the Home loan โ SIP Trick?
https://t.co/wqBeUZHQPG
(12/n)
(13/n)
(14/n)
https://t.co/XNiJz2sEKe
(16/n)
If you have a Rs 50 lakh home loan \U0001f3e1 or plan to take one soon, here is a long thread on how to manage it well. It discusses various options you can use to become loan-free quickly.
— Stable Investor (@StableInvestor) November 19, 2022
Here is the thread\U0001f9f5& it highlights all possible home loan prepayment scenarios \U0001f447\U0001f447
(1/n)
https://t.co/EFnOtJEz0a
(17/n)
What happens when you pay just 1 Extra EMI for your home loan every year?
— Stable Investor (@StableInvestor) November 24, 2022
This a short, simple thread \U0001f9f5 for those who want to get rid of their home loans but don\u2019t have a large surplus to start prepayments.
<1/n>
https://t.co/e187EDmHbG
(18/n)
If you take a home loan, you will realize that loan principal gets paid off slowly during initial years. This is exactly why it is better to make prepayments earlier in tenure than later.
— Stable Investor (@StableInvestor) December 9, 2022
A thread\U0001f9f5on why principal gets repaid slowly initially & how to prepay smartly\U0001f447
(1/n)
(19/n)
But remember - Your home loan is not your only priority. You need to invest for other financial goals as well. So donโt get too obsessed with the home loan prepayment.
(20/n)
You can also retweet the link to the first tweet of this thread to spread the word. Link below ๐๐
https://t.co/JFI3CkC1lj
SIP (Trick) of 1% of the Home Loan amount.
— Stable Investor (@StableInvestor) December 18, 2022
Many call it the SIP trick to compensate for home loan interest.
What exactly is it?
Here is the thread\U0001f9f5that tries to explain this simple idea \U0001f447\U0001f447
(1/n)
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THREAD PART 1.
On Sunday 21st June, 14 year old Noah Donohoe left his home to meet his friends at Cave Hill Belfast to study for school. #RememberMyNoah๐
He was on his black Apollo mountain bike, fully dressed, wearing a helmet and carrying a backpack containing his laptop and 2 books with his name on them. He also had his mobile phone with him.
On the 27th of June. Noah's naked body was sadly discovered 950m inside a storm drain, between access points. This storm drain was accessible through an area completely unfamiliar to him, behind houses at Northwood Road. https://t.co/bpz3Rmc0wq
"Noah's body was found by specially trained police officers between two drain access points within a section of the tunnel running under the Translink access road," said Mr McCrisken."
Noah's bike was also found near a house, behind a car, in the same area. It had been there for more than 24 hours before a member of public who lived in the street said she read reports of a missing child and checked the bike and phoned the police.
On Sunday 21st June, 14 year old Noah Donohoe left his home to meet his friends at Cave Hill Belfast to study for school. #RememberMyNoah๐
He was on his black Apollo mountain bike, fully dressed, wearing a helmet and carrying a backpack containing his laptop and 2 books with his name on them. He also had his mobile phone with him.
On the 27th of June. Noah's naked body was sadly discovered 950m inside a storm drain, between access points. This storm drain was accessible through an area completely unfamiliar to him, behind houses at Northwood Road. https://t.co/bpz3Rmc0wq
"Noah's body was found by specially trained police officers between two drain access points within a section of the tunnel running under the Translink access road," said Mr McCrisken."
Noah's bike was also found near a house, behind a car, in the same area. It had been there for more than 24 hours before a member of public who lived in the street said she read reports of a missing child and checked the bike and phoned the police.
![Peter McCormack [Jan/3\u279e\u20bf \U0001f511\u220e]](https://pbs.twimg.com/profile_images/1524287442307723265/_59ITDbJ_normal.jpg)
