When taking a loan against property, you typically have several repayment options to choose from. The specific options available to you may vary depending on the lender and the terms of the loan. Here are some common repayment options: Equated Monthly Installments (EMIs): EMIs are the most common and straightforward method of repaying a loan against property. Under this option, you pay a fixed amount each month, which includes both the principal amount and the interest. The EMI amount remains constant throughout the loan tenure, making it easier to budget your monthly expenses. Step-Up EMIs: Some lenders offer step-up EMIs, where the EMI amount starts lower and gradually increases over time. This can be beneficial if you expect your income to rise in the future and want to start with smaller monthly payments. Step-Down EMIs: Step-down EMIs work in the opposite way of step-up EMIs. You start with higher EMI payments, and they decrease over time. This option is suitable if you anticipate a decrease in your income in the future. Flexible Repayment Schedules: Some lenders provide flexibility in choosing the repayment schedule. You may be able to make quarterly or half-yearly payments, especially if your income is irregular or seasonal. These flexible schedules may help align your repayments with your income patterns. Bullet Repayment: In a bullet repayment option, you pay only the interest during the loan tenure and repay the entire principal amount at the end of the loan term. This can be a suitable option for those who anticipate a significant lump sum, such as through an investment or maturity of another financial instrument, towards the end of the loan tenure. Part Prepayment: You can make partial prepayments towards your loan against property to reduce the outstanding principal amount. This can help you lower your overall interest costs and shorten the loan tenure. Lenders may have restrictions on the number of prepayments you can make in a year or the minimum prepayment amount. Full Prepayment: If you have surplus funds or wish to close the loan earlier, you can choose to make a full prepayment. This allows you to repay the entire outstanding loan amount before the scheduled tenure, saving on interest costs. #tcm #cadfin #loan #repayment https://www.tcmservicemart.com https://g.co/kgs/EWruJK