What happens if I pay 1 EMI extra every year?

its deduct that much amount from principle amount which lowers your total interest amount, which lowers loan term or u can get lower emi 

better to pay few lakhs early in loan that whill tips loan on your side

for first few year bank cut mostly interest and little to none principle amount 

if u have 13850 emi 1000 goes to reducing pricple and rest goes to bank interest aka massive profit for banks

Insta pe bahut famous hai ye chiz...
PS - It's because finfluencers are creating reels on this topic...pay one extra emi/add extra amount to your SIP or do step up SIP...

If you pay 12 extra EMI your loan will be cleared next year you can take another loan that's all

Then apki thailand ki trip pakki...🫢🤔

not all loans or banks allow this, pay anything you feel is extra and save on interest nothing more

25 year loan will be completed in 10 years!