Loans & credit
Loan tenure
The total time you take to repay a loan, which decides your EMI size and total interest.
Tenure is how long you stretch a loan. A longer tenure means smaller EMIs but far more total interest.
A shorter tenure means bigger EMIs but you finish faster and pay much less overall.
Pick the shortest tenure whose EMI you can comfortably afford, and prepay when you can.
For example
A ₹20L loan over 10 years has a higher EMI than over 20 years, but can save you well over ₹15L in total interest.