EMI

Finance/Money

Home Loan Tenure Selection: Impact on EMI and Total Interest Payment

Selecting the right home loan tenure plays a vital role in managing long-term repayment. It directly affects both the Equated Monthly Instalment (EMI) and the total interest payable. Financial institutions offer flexible tenure options, generally ranging between 5 – 30 years. Borrowers must align the tenure with their financial goals, income stability, and repayment capacity. Choosing an appropriate duration helps…