An Indian techie has paid off his home loan of ₹53 lakh in only six years thereby cutting down the marathon into a sprint. The sum of money he paid back which included interest amounted to ₹67 lakh. His case is not about chance or an inheritance, but it is a matter of financial discipline and commitment.
In November 2019, the moment he put his signature on the loan documents for ₹53 lakh was the start of it all. Like a typical middle-class Indian family, he had the dream of buying a house but was scared by the idea of EMIs for 20 years.
Right after that came the pandemic, the situation of the job market was uncertain, and he was unsure whether the decision he made was correct, just like many other people.
Rather than being in a state of panic, he made up his mind that prepaying the loan was the only option, so that every bonus and every rupee that could be saved from the budget would be used for that purpose.
There was no impulsive buying, no extravagant dinners, and no fancy gadgets. His friends may have been going on holidays, but he was gaining his peace of mind.
The turning point in his life was when he got a job in Germany. The higher salary along with the saving culture that is prevalent there helped him to pay off his loan much faster. IIt was not just the job that did the magic, but rather the way he thought.
Even though his income was in euros, he did not alter his standard of living. Instead, he went all out. He kept track of all his expenses, had monthly goals and considered his home loan as a mission. Every salary increment was directly used for the reduction of the principal amount. He accomplished his home loan goal within six years, from November 2019 to November 2025.
He mentioned two things that gave him the strength to keep going when he was asked. They were clarity and control. With the warning he gave, "Do not get a home loan if you are an overthinker or have anxiety condition," he warned. "It is not meant for everyone."
What he was saying is in line with what most of the people who forget it, that a loan is not only a financial but also an emotional commitment.
In addition, he provided a reminder which was really very obvious to many: "People may admire your house, but they won't be paying your EMIs."
Where people usually pursue status, this particular story does the opposite. The techie wasn't purchasing luxurious goods to show off his success. What he wanted was freedom, the kind of freedom that you get when you're not in debt with anyone.
He is a textbook example of one who has control over his finances and shows that paying off loans early is not a question of making a lot of money, but rather making wise decisions.
Therefore, if next time you think that it would be nice to have a better phone or car, remember this story. Because the real wealth is not about having more of this, it is having peace of mind.
