Short-term vs long-term home loan tenure: Which one is better?

EMI amount

Longer Tenure: Since the EMI payments are spread over a wider time frame, you will have to pay a lower EMI amount. However, the interest is higher on this time frame. Short term tenure: The short term reason EMI amount has to be paid on the higher side. However, you save money on the total interest amount payable on the loan.

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