When you buy a home, you are making a large financial decision. You will need to make a long-term financial commitment to pay a home loan. And your success in repaying your home loan largely depends your loan repayment plan, which includes the loan tenure and the other costs of owning your home.
Deciding on your loan tenure is important, as it determines the size of the loan amount. The longer your loan, the larger your interest payment. Banks usually grant a loan tenure for up to 30 to 35 years, depending on your age.