Have a home loan? Here's how to squeeze the most out of it.
Published by Mint
Abhishek Kumar's role: Quoted
Abhishek Kumar of SahajMoney said some borrowers route their salary through the overdraft account and pay credit card bills from it to save more interest, and cautioned that only idle cash should go there, not money meant for long-term investments.
More of Abhishek's views on debt and loans
Mint explains overdraft home loans, which let borrowers park surplus cash in the loan account to cut interest while keeping it available to withdraw. Through several borrowers' experiences, it covers the interest saved, the slightly higher rates, the shrinking room to park money as the loan is repaid, and the risk of withdrawing to invest in stocks. It includes comments from Abhishek Kumar.
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Have a home loan? Here's how to squeeze the most out of it.
