Improve Your Credit Score 

To get lower interest rates, maintain a high credit score by paying bills on time, keeping credit usage low, and monitoring your score regularly.

Choose the Right Loan Tenure

Select a tenure that balances manageable EMIs with total interest. Use an EMI calculator and consider prepayments to reduce the term and save on interest, noting any potential fees.

Increase your EMI

Increase your EMI to shorten your loan tenure. If your salary has increased, consider raising your monthly payments to reduce the loan duration and overall interest. Check with your lender to see if they offer this option.

Negotiate with Your Lender

Use your good credit, stable income, and positive repayment history to negotiate better rates and leverage your relationship with the lender.

Make a Higher Down Payment

A larger down payment reduces the loan amount, which can lower both the interest rate and EMI, while showing commitment and reducing lender risk.

Consider a Home Loan Transfer

Transfer your existing loan to a lender offering a lower interest rate. Calculate transfer costs like processing and foreclosure fees and compare loan terms before switching.