Which plan to select while repaying home loans?

Taking loan is an easy task. But remember once you have takes the loan amount, you are bound to repay it within a fixed time. In order to avoid confusion and properly pay back the amount you can follow the below mentioned points and then choose a scheme which suits you the best. Do select from the below mentioned plans and repay your loan within the stipulated time. Construction-linked plan: In this plan, one has to pay the cost in the form of pre-determined installments to the builder in cycle with the development of the property. Time-linked plan: The second plan is the TLP where one is required to make the payment of the installment within a predetermined time, irrespective of the development in the property. Some developers also tend to offer discounts in this plan. The advantage of this plan is the periodicity of payment, unlike construction linked plan where the demand for payment arises as and when the floors are laid out, this plan allows one to plan out expenditure in a better way and there are no surprises down the line unless of course the projects are unduly delayed in which case buyers would have paid up way before delivery. Down payment plan: This is the traditional method of loan repayment; here the customer has to pay up nearly 20 pct of the total value of the loan upfront. Depending on your comfort, you could choose to pay up as much as you are willing resulting in commensurate discounts. You may also choose Flexi plan and pay your dues comfortably on time.