A home loan helps people buy or build a house by borrowing money from a bank.
The loan is repaid through monthly EMI over a long period.
EMI is the monthly payment made to repay the loan.
Learn how EMI works: How EMI is Calculated
Interest plays a major role in total repayment.
Understand interest here: How Bank Interest Works
Home loans have lower interest but longer tenure compared to personal loans.
Read comparison: How Personal Loan Works
Always understand risks before taking a loan.
Read this guide: How to Avoid Loan Traps