Make sure loans have a short tenure
Monday, November 27, 2017, 6:12 PM
You must know of the power of compounding. The longer you stay invested, higher are the returns. With loans well, it's the other way. Longer the loan tenure, higher is the interest burden you face. Borrowers are tempted to go for longterm loans because the EMI is lower. But this is a misconceived-strategy because they end up paying a huge interest on the loan.