How to save Interest on Home Loan ?

Its opportunity cost you pay

To save it, go for OD loan account

You can divert all your funds there and pay interest only on remaining principle

And that funds are liquid

you have the option to pre pay once or twice per year use it to kill the loan asap

try to close the loan in 5 years

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Certainly, there are several ways to potentially save or earn on the interest you pay over a 10 to 15-year tenure. Here are a few strategies:

1. Systematic Investment Plan (SIP): As you mentioned, investing a portion of the interest amount in SIPs is a common method. It allows you to regularly invest a fixed amount in mutual funds, providing the potential for returns over time.

2. High-Interest Savings Account or Fixed Deposit: Consider putting a portion of the interest in a high-interest savings account or fixed deposit. While the returns might not be as high as some investment options, it provides a safer and more liquid alternative.

3. Real Estate Investment: If feasible, you might explore real estate investments. Real estate has the potential to appreciate over time, providing both a hedge against inflation and potential returns.

4. Stock Market Investments: Invest in stocks or equity mutual funds for potentially higher returns. However, be mindful of the associated risks, and it's advisable to diversify your investments.

5. Retirement Accounts: Contribute to retirement accounts like a 401(k) or IRA, depending on your country's regulations. These accounts often provide tax benefits and can serve as a long-term savings strategy.

6. Educational Investments: Consider setting aside a portion of the interest for educational investments, such as courses, certifications, or skill development programs that can enhance your earning potential.

7. Create an Emergency Fund: Ensure you have a robust emergency fund that covers 3 to 6 months of living expenses. This can protect you from unexpected financial challenges.

Before making any financial decisions, it's crucial to assess your risk tolerance, financial goals, and consult with a financial advisor for personalized advice based on your unique situation.

SBI MaxGain Loan is your best option, if you can get it