About an year back my wife gifted me a book “Rich Dad Poor Dad” by Robert Kiosaki, by then I have learnt a lot about finance & money management. I am thankful to Robert sir for such wonderful book which has changed my life 🙂 … and Thanks to Roopa too for gifting me such book 🙂 post updated for 2019
So I will be sharing some valuable investor tips on how to save some money or generate money based on my own experimentation and learning so far …
So here is one of the most important task of anyone’s life . which is to buy a home … This dream of yours also brings you burden of home loan interest & it is important to know that highest part of repayment is Interest on home loan.
Do you know How to get Home Loan at 0% Interest Rate in India ?
Yes, for sure if you plan intelligently then for sure you can get back all your Home loan interest you pay through EMI’s.
How do I get my home loan interest back, explained with example ?
Say you have availed a Home loan of 10 lacs for 20 years with an interest rate 9.5% your…..
| For a Home loan of 10 lacs for 20 years with an interest rate 9.5% Calculations | |
| Monthly EMI | Rs. 9,321.31/- |
| Principal Amount | Rs. 10,00,000/- |
| Interest Payable | Rs. 12,37,144/- |
| Total Amt Payable | Rs. 22,37,115/- |
Trick to get your Home Loan Interest Back
- Keep aside 0.10% of your home loan amount
i.e. 0.10% of 10,00,000/- is 1,000/- per month till the tenure of your home loan - Start an SIP till the tenure of your home loan with the amount you are keeping aside. (i.e. Rs. 1,000/-)
Mutual Fund Investment:
If I would have invested into HDFC Top 200 MF with SIP of 1000 Rs
| SIP in HDFC Top 200 (Sample calculations) | |
| SIP Amount | 1000 Rs |
| Start date till June 2017 | Jan 01, 1999 to Jun 01, 2017 |
| Investment Value as on Jun 01, 2017 (Just 18.5 Years) | Rs. 20,92,490/- |
| Extrapolated over 20 years returns | Rs. 22,62,151/- |
What is End Result of my planning
| Home Loan Interest Paid Over 20 Years | Rs. 12,37,144/- |
| SIP Amount Paid over 20 Years Rs. 1,000 x 12 x 20 = 2,40,000 /- | Rs. 2,40,000/- |
| Total Amount Invested in 20 years | Rs. 14,77,144/- |
| In Mutual fund SIP you generated a wealth | Rs. 22,62,151/- |
| Wow ! My Savings Over 20 Years | Rs. 7,85,007/- |
Being an engineer I am not too good in finance, hence I have tried to keep the calculations as simple as possible (To best of my financial knowledge 😛 )
So I suggest you Start your SIP now and enjoy interest free home loan 🙂
ps : You can also get the book Rich Dad Poor Dad in Marathi
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Krutika says
April 14, 2017 at 4:14 pmWow, amazing concept. I will definitely going to apply
Mohd Abdul lateef says
April 24, 2017 at 3:37 pmI buy home or flat in hyderabad with out interest interest free schemew
Loansa Assit says
May 7, 2017 at 6:46 pmEntire different home loans, it is necessary find to check some true facts from different home loan. The major important points of different when it comes to home loans are as kind of principal ( Interest rates ) ( Processing fee ) ( Loan to value Ratio ) However, you need to choose the loan in the entire package and not just focus on single elements. The concept given on Reviews section of TrekBook India is very much unique and it will be very much useful to me and my clients.
Thank you very much.
Sumit Raut says
May 26, 2017 at 10:29 amValue of Rs. 1000 invested for 20 years shall be Rs. 15, 15, 954.97
Please check
yashoda naidu says
June 10, 2017 at 2:50 pmi want a home loan rs 5 lac fr a 0 interest
Mahesh says
June 10, 2017 at 3:50 pmHi Yashoda, Please mail me at mahesh@howzbuy.com for guidance
Mahesh says
August 1, 2017 at 12:41 pmPlz read the post carefully, you can nullify the impact of interest, that way you are making it Zero percent interest! so the process is self explanatory
sandeep says
August 19, 2017 at 9:12 amI want interest free loan of 200000 to buy house p
Rakhi says
June 25, 2018 at 10:24 amI want a home loan 20 lakh in 0% intrest rate please help