Reduce the home loan size

When borrowing for your housing needs, you must make as much down payment as possible. Take a fair assessment of your asset holdings in form of gold, bonds, equity, small savings, deposits and any other personal assets. These holdings can work as prepayment alternative if there is an unexpected rise in the interest rates.

Giving the critical borrowing more attention

Home loans are considered be the most critical borrowings, considering the investment size and emotional association of buyer with them. It must be given the highest repayment priority. In case your car/two wheeler is on loan, and if is used for commuting on day to day basis, you must try to repay it following monthly payment due on mortgage.

Swap off small debts with quick repayments

Try to pay off small borrowings of few thousand rupees right away and reduce the number of arrears. You might consider the low interest rate on such borrowings, but remember that paying them off would mean one less bill to bother about. It will also help in motivating you and help in scrapping off other borrowings.