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Home Loan EMIs: Unable to Pay Home Loan Amid COVID? Here's What You Can Do
News 18The current times are petrifying with many people afraid of losing their jobs or their income. If you have a long tenure home loan running in your name and are finding it difficult to repay your loans owing to less or no payouts due to the coronavirus pandemic, you can try one or all the following methods to ease the burden of loan repayment. Instead, use the amount to pay off the EMIs thus, relieving yourself from the burden of penalty that would follow on non-repayment of your loan. Instead, take out only that much amount that you would need to repay your loan instalments till you get your next job. Since the loan would be secured with the policy serving as the collateral, the interest rates on the loan would be much lower than unsecured personal loans.
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