Why prepaying your home loan right now is an absolute masterstroke

Interest constitutes a massive chunk of a long-tenure home loan. By making even small, consistent prepayments early in your loan cycle, you can drastically reduce your principal balance. Financial planners highlight that prepaying just 5% of the outstanding principal annually can reduce a 20-year loan to nearly 12 years, saving borrowers millions in compounded interest over the lifetime of the mortgage.