While disbursing a loan, your lender is likely to offer you multiple loan tenor options. Longer the tenor higher would be your interest cost, but lower would be your EMI. You must strike a balance between the interest you want to bear and the EMI you are most comfortable with. Going for a shorter loan tenor just to keep the interest cost low can lead to higher EMIs. With high EMIs the probability of a default increases. Therefore, optimise your loan tenor and EMI amount so that you can repay it timely.