Srishti Gosavi: Empowering Finance Management

Srishti Gosavi, a prominent finance influencer renowned for her insightful tips and tricks, offers invaluable guidance on reducing home loan Equated Monthly Installments (EMIs).

Leveraging Improved Credit Scores for Better Interest Rates: Srishti emphasizes the importance of maintaining a good credit score, citing her personal experience as a testament. Initially starting with a credit score of 600 points, she diligently managed her credit card, leading to a significant improvement to 728 points within a year. Armed with this enhanced credit score, Srishti successfully negotiated a 0.5% reduction in her home loan’s interest rate with her bank. This highlights the pivotal role of a good credit score as a bargaining tool with lenders.

2. Utilizing Conversion Fees to Lower Interest Rates: Srishti recommends utilizing conversion fees offered by banks to lower interest rates on existing home loans. By paying a nominal conversion fee, typically ranging from 0.5% to 1% of the outstanding loan amount, borrowers can secure substantial interest rate reductions. Srishti’s prudent decision to pay a modest fee of Rs 2,500 resulted in nearly a 1% reduction in her interest rate, translating to significant savings over the loan’s duration.

Srishti Gosavi’s insightful strategies empower individuals to effectively manage their finances and navigate the complexities of home loans with confidence and ease. Her practical tips serve as a beacon for borrowers seeking to alleviate the financial burden associated with housing loans.