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The Impact of interest rates on your home loan repayment tenure

Home loan interest rate and repayment tenure are connected, as they determine the financial viability of a loan. When repaying the loan, the principal amount plus interest is paid, and the tenure is calculated based on the borrowed amount and agreed interest rate. Tenure is the number of years it takes to return the principal and interest amount, with 360 EMIs in 30 years. Understanding these terms helps you understand how interest rate impacts repayment tenure.

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