It is a huge exploitation of average middle class man is what I wud say of the current home loan scenario.
1. In the name of tax benefit huge amounts of your EMI goes into interest calculated for the tenure. Which means if you are repaying your loan much much earlier, you loose all that additional interest paid per month till the early repayment of loan.(Your interest amount is not equally spread within ur repayment tenure) 2. On top of it you also pay an early payment charge which could range from 2% to 5% of amount paid depending on the loan schemes which is absolute exploitation of the middle class community. 3.Over and above all this increasing inflation and interest rates in the name of floating rate schemes luring more and more common men and families to this drive.
What more can we ask for? Come fall in love with the Indian home loans