Have you ever heard how loan amount is calculated and deducted as an EMI. You will never know about the insider tip for your pending loan amount.
After payment of your EMI loan amount still left is more not as you expected. In simplified words loan amount left to be paid will still be more.Banks want to earn more on your interest rate and you want to pay less interest rate, here banks win this game.
HOW DOES BANK CALCULATE YOUR DUE LOAN AMOUNT
System of banks are very clever if your emi is 3000 ( Principal + interest ) then in this major portion will be interest not of principal.Like you are thinking of 1500 principal and 1500 interest will be deducted but it is not true maximum amount will be interest not principal thats why loan amount pending is always more than you expected. As Principal will always be deducted less and loan will be extended as well.
TIP AND SECRET SOLUTION FOR THIS Whenever you pay an amount while visiting bank tell them to submit that cash in principal as banks have two types of ways for loan emi. 1) Submitting amount as told above.
2) Submitting amount where Principal deducted more.Banks have different menus for both when you will insist them to do it will reduce your principal loan amount and hence your loan amount.