Want to keep your Home Loan EMI low: These five tips will come in handy...

If you are looking to reduce your home loan EMI, here are five things you can do that can help you get into a better financial position.

Want to keep your home loan EMI low?

Tenure Want to keep your home loan EMI?

1. Choose a Longer Tenure

Paying off the loan every month can reduce your monthly EMI to a great extent. EMI means that instead of paying the price of an item in one go, you can pay off that amount in full monthly over a long time period. This will not affect your monthly budget, and your work can also be done easily. However, it is very important to remember that while your monthly payments will be less, this policy will increase the interest on the actual price to be paid during the loan period.

2. Opt for a Lower Interest Rate

The most beneficial way to reduce your EMI is to compare different loan companies and their interest rates. Loan rates can vary widely from one bank to another. Therefore, before making any decision, think carefully before choosing a loan. If you feel that the bank you have chosen is charging you more interest than other banks, then in this situation, you should make the right decision and choose the bank that will charge you less interest. This not only reduces your monthly EMI but can also save you a substantial amount of money during the loan tenure.

3. Increase Your Down Payment

If you make a higher down payment in the beginning, your installments can be reduced significantly. So, if you are capable, definitely consider this. By doing this, you can avoid paying more interest. This reduces the burden of your monthly EMI considerably. By making a higher down payment, you can avoid paying more interest, and the number of monthly installments also decreases, which is very beneficial for you. If you are capable of giving a higher down payment, then get a loan by paying as much down payment as possible.

4. Prepay When Possible

If you use bonuses, tax refunds, or any additional savings that you can accumulate to make partial prepayments on your home loan throughout the year, you can reduce the remaining principal amount, thereby significantly reducing your EMI amount. If you prepay your loan, you can also avoid paying interest for a long time, and the loan tenure can also be reduced. By doing this, you will be able to pay the loan amount sooner, get rid of the mental stress of repaying the loan, and also save on interest.

5. Negotiate Loan Terms

Many borrowers are unaware of the fact that they can negotiate the terms of their loan with their lending bank. If you discuss your terms with the bank, the bank may be willing to modify your loan terms, such as lowering the interest rate or extending the tenure, if you have taken a loan in the past and have a good repayment history or if market conditions have changed to provide you with better facilities. It is worthwhile to negotiate your loan agreement with your lender and know all the terms and conditions.

Maharashtra Natural Gas IPO : Investors will get this city gas company of BPCL..

MNGL IPO: Maharashtra Natural Gas Limited is a city gas distribution firm, with Indraprastha Gas Limited owning a 50% stake.

Maharashtra Natural Gas IPO

Maharashtra Natural Gas IPO : Maharashtra Natural Gas IPO: The public sector refinery and marketing company BPCL has given the green light for the IPO of Maharashtra Natural Gas Limited. In a regulatory filing with the stock exchange, the company announced that BPCL's board has, in principle, approved the IPO of MNGL (Maharashtra Natural Gas Limited).

BPCL board approves IPO

Bharat Petroleum Corporation Limited stated in a regulatory filing with the stock exchanges that there are reports indicating Maharashtra Natural Gas Limited, a joint venture of BPCL, GAIL, and IGL, is planning to list by launching an IPO (Initial Public Offering) worth Rs 1000 crore on the stock exchanges. In clarification, the company mentioned that the board has approved BPCL to proceed with an IPO, but regulatory and other necessary approvals will be sought.

IPO will come in the next financial year

Maharashtra Natural Gas Limited, a city gas distribution firm, plans to launch its IPO in the upcoming financial year and will be listed on the stock exchange. Indraprastha Gas Limited (IGL) owns a 50% stake in the company, while BPCL and GAIL each hold a 22.5% stake. Additionally, the Maharashtra government, through the Maharashtra Industrial Development Corporation (MIDC), holds a 5% stake in the company.

Company's investors will sell stake

In the IPO of Maharashtra Natural Gas Limited, funds will be raised through both an Offer for Sale and the issuance of new shares. The company's largest shareholder can sell their stake through the Offer for Sale. Maharashtra Natural Gas Limited operates in Pune, Pimpri-Chinchwad, and the surrounding areas. Additionally, MNGL supplies CNG and PNG for commercial and industrial purposes, as well as to domestic consumers in the districts of Maharashtra, Karnataka, and Telangana. In the last financial year, the company reported a revenue of Rs 3,001.88 crore and a net profit of Rs 610.12 crore. Once listed, Maharashtra Natural Gas Limited will become the sixth such company to be listed on the stock exchange.

HDFC, TCS, ICICI remained in loss : Big companies earned money in 1 week, HDFC, TCS, ICICI remained in loss..

Over the past week, the market capitalization of Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of India (LIC), and Hindustan Unilever has risen. Together, these companies have experienced a market increase of Rs 82,861.16 crore.

HDFC, TCS, ICICI remained in loss

HDFC, TCS, ICICI remained in loss : Last week, the combined market capitalization of four of the country's top 10 most valuable companies decreased by Rs 96,605.66 crore, with HDFC Bank taking the hardest hit. Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, and State Bank of India experienced a drop in their valuations. Conversely, the market cap of Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of India (LIC), and Hindustan Unilever increased. The total market value of these companies rose by Rs 82,861.16 crore. We will also inform you about the gains and losses in market cap among the nation's leading companies.

The market capitalization of HDFC Bank, the country's largest private lender, has decreased by Rs 37,025.46 crore to Rs 13,37,919.84 crore.

The market cap of the country's second largest private lender ICICI Bank declined by Rs 29,324.55 to Rs 8,93,378.50 crore.

Last week, the market capitalization of Tata Consultancy Services (TCS), the country's largest IT company, decreased by Rs 24,856.26 crore to reach Rs 14,83,144.53 crore.

The market capitalization of State Bank of India (SBI), the country's largest public sector lender, decreased by Rs 5,399.39 crore to Rs 7,08,168.60 crore.