Bajaj Housing Finance has recently extended the maximum tenure on its home loans to 40 years from 30 years for salaried borrowers. For a 40-year home loan, the company now offers equated monthly installments (EMIs), starting at Rs 733 per lakh. Longer tenure helps you bring down the EMI amount. Isn't a 40-year home loan with lower EMI an attractive deal, considering you have 10 more years to repay the loan? Probably not. Know why
