How to say Bye-Bye to EMI from your Life Forever ?

Equated Monthly Installment (EMI) has always been promoted as the easy installments by banking and other financial institutions. The truth is this is a new way acquired by institutions to trap middle class so that the banks could earn big interest from the hard earned salaries of middle class. Middle Class today is taking Home Loan, car Loan, Personal Loans, Loans against mortgage, etc and is being a source for making huge earnings for the lending institutes.
Simply talking about Home Loan, a person who takes this loan for 15-20 years keeps paying EMI almost throughout the life. He is not authorized to miss even a single of it and in case he does miss due to certain emergency, he would be paying extra (big money as late fee and interest over interest). For more than half of his entire tenure of loan repayment, he hardly pays much of the principal amount and suppose due to any personal or professional issues he is now not able to pay, he comes to see that he has to almost the entire loan amount to the bank and this is the worst trap one can fall for. Once some one takes a home loan, he keeps paying the loan through out the life and can’t even think of changing his professional life because if anything goes wrong even for the time being, he won’t be able to pay his EMIs.
This video talk about various points related to Loan and related EMIs with examples. It also includes a Case Study and discusses a real Home loan chart issued by a bank to its customer who is paying an EMI in detail. This also talks about how to avoid loan for those who have not taken one yet and how to repay loan as early as possible who are frustrated due to never ending EMIs.



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