ilmscore | Prediction Details
"the new bank can do. What that typically does is not only that you save on 2% of interest, but uh your EMIs almost become half of what it currently is because your tenor has gone up."
By Finance With Sharan | March 27, 2025 | Correct
From video
60k Income, Managing FAMILY After Losing Father | Personal CFO Ep. 4 | Finance With Sharan 00:19:47 - 00:19:57
Interpreted Prediction
Extending the loan tenure to 20 years during refinancing can approximately halve the monthly EMIs, alongside interest savings.
AI Evaluation Notes
Refinancing and extending loan tenure can reduce EMIs, but halving them depends on interest rate differences and the specific terms of the new loan. Interest savings are also achievable through refinancing, but the extent varies based on individual circumstances.

Prediction Details

Topic
Loan Refinancing Strategy

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.