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Pls suggest me some useful tips
Though a huge number of people all over the world is going through this trauma, very few people know the real solution. I think Debt Consolidation can help you to lower the burden.
The following are the various options through which one can reduce the EMI
1. Repay a part of the loan through which principal reduces and so the EMI.
2. Try shifting to various banks which offer low interest rates, this reduces the EMI.
3. A few banks like ICICI take some switch over charge and reduce the interest rates or move the loans from Fixed to Floating or vice-versa.
the first option is that you can repay part of the loan to the respective institution, in this way your emi will also come down and there is also another way is that you can switch your loan to another bank, because what happen this is called Balance Transfer, in this case the another bank offer you less rate of intt so it will help you to reduce the emi sami,
T&C depending on your payment track recrod.
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