[Infographics] SIMPLE WAYS TO REDUCE YOUR LOAN EMI

Taking loans is the easy way out when there is a sudden requirement of more capital than one has as savings. The need could be due to unexpected expenses or because of some investment plans. EMIs make life easier as it divides the loan into affordable parts to be paid over a period of time.

However, thanks to the rate of interest levied on the principal amount, the borrower can end up paying much more in repayment. But there are few simple steps, which if followed, can lower your EMIs considerably and thus, lessen your financial strain. From negotiating with the lender to paying bigger down payment, here are a few doable ways by which one can reduce the EMIs and repay the loan earlier than planned.