Loan Against Property

 

Godrej Capital's Loan Against Property (LAP) is designed to support business growth with high loan eligibility, flexible EMIs, longer tenures, and a wide range of acceptable collaterals. This loan provides substantial funding based on property value, making it ideal for significant business investments and expansions.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Udyog Loan Against Property

 

For MSMEs aiming for growth, Godrej Capital Business Loans for small businesses offer the funds needed to expand their business and manage cash flow. Apply for MSME loan without collateral today!

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Commercial Property Loan

 

Take your business to the next level with a Commercial Property Loan that finances construction, extension or improvement to make your business goals become reality. With plans designed for your life, you can rest assured that your business empire is in safe hands.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Balance Transfer

 

Transfer your existing loans to Godrej Capital and experience the benefits of lower interest rates, flexible repayment terms, and significant EMI savings. Enjoy higher eligibility, along with a top up loan, to take care of your extra needs.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Home Loan

 

Seeking a Home Loan to buy a ready-to-move-in property, an under-construction house, or renovate your current residence? Our Home Loan, featuring low interest rates and flexible EMI plans, is specifically designed to help you accomplish buying your dream home.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Plot Loan

 

Found the perfect spot to build your future? Our Plot Loans can help make it yours. Our loans offer you the financial help, low interest rates and flexible payment options you need to construct the home of your dreams.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Professional Loan for Doctors

 

Whether you need working capital to start your own clinic or upgrade your current practice with new facilities and hire skilled staff, our Professional Loans for doctors are here to help you. Apply today for a collateral free loan today!

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Professional Loan for Doctors

 

Whether you need working capital to start your own clinic or upgrade your current practice with new facilities and hire skilled staff, our Professional Loans for doctors are here to help you. Apply today for a collateral free loan today!

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Professional Loan for CAs

 

Godrej Capital's Professional Loan helps CAs in expanding practice, hiring new staff, enhancing equipment, and upgrading services for business growth. Get a loan without collateral and take your career to new heights.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Business Loan for MSMEs

 

For MSMEs aiming for growth, Godrej Capital Business Loans for small businesses offer the funds needed to expand their business and manage cash flow. Apply for MSME loan without collateral today!

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Business Loan for Women

 

Are you a woman entrepreneur? Godrej Capital's Business Loans for women-owned MSMEs help them fuel growth and meet business needs without any collateral. Apply for a small business loan today!

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Business Loan

 

Empower your business with Godrej Capital's Business Loan, offering flexible financing solutions to help businesses take the next step for growth. Apply for online Business Loan without collateral today!

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

blog-22-01.jpg

Effective Strategies for Paying Off Your Home Loan Sooner



If you have a home loan and want to pay it off before its full term, prepaying your home loan can be a smart financial move. Not only does it help you become debt-free faster, but it also reduces the total home loan interest rate you'll pay over time. Here are some smart ways to prepay your home loan:

 

  1. Increase your EMIs Gradually: One effective strategy is to gradually increase your Equated Monthly Instalments (EMIs) each year. Initially, when you might have less income, you may have opted for a longer tenure to keep your EMI affordable. However, as your income grows, you can consider increasing your EMI by a certain percentage annually. Calculate your payable EMI using an EMI calculator and evaluate how much amount you can increase. This can significantly reduce your loan tenure.

    For example, if you have a ₹50 lakh loan at 7% interest for 20 years, with an EMI of ₹38,765, increasing the EMI by 10% annually could help you close the loan in 9 years and 11 months, while a 5% annual increase could lead to closure in 12 years and 6 months.

    An EMI calculator can be of good use to understand the best outcomes of increasing your monthly payables.

  2. Consult your Lender: Check with your lender if they allow you to increase your EMI annually. You can also use online prepayment EMI calculators to see how much interest rate and time you can save by prepaying your home loan.

  3. Prepay a Fixed Amount Annually: Another option is to prepay a fixed sum at the end of each year. For instance, if you have a ₹50 lakh loan for 20 years at 9% interest, with a monthly EMI of ₹44,986, adding a fixed sum annually, like ₹3 lakhs, could help you pay off your home loan in 9 years and 3 months.

  4. Invest to Prepay: You can also consider making investments to accumulate a corpus to prepay your home loan. Depending on your risk appetite, you can choose between fixed-return instruments like bank FDs or market-linked products like mutual funds to earn returns and prepay your loan.
     

Before opting for any of these strategies, ensure you understand the prepayment rules of your home loan. It's advisable to discuss your options with your lender and carefully review the terms and conditions before making any decisions.

 

Disclaimer: The contents of this article are for information purposes only and not a financial advisory. The information is subject to update, revision, and amendment and may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Godrej Capital or its Affiliates to any requirements. Godrej Capital or its Affiliates shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any decisions, financial or otherwise based on the contents and information mentioned. For more information, please visit www.godrejcapital.com