Common Financial Dilemmas And How to Resolve Them
Increase Home Loan EMI or Loan Tenure
The lenders offer you with the option to increase the EMI's or increase the loan's tenure when the interest rates hike. If you have other loans to clear and can't afford a higher EMI then you can consider increasing the tenure period. If it is feasible then opt for an EMI increase so that you can clear the loan early. One important aspect you need to bear in mind an increase in EMI will definitely pinch your household budget.
