Although this financing option is more expensive, it will result in huge deals within the interest and you may a shorter repayment tenure.

Thirty-seven-year-dated Sunil Nadkarni are up against a problem popular to many a beneficial mortgage debtor. He is curious whether or not to prepay and cut notice to the financial otherwise hold the currency having a rainy go out.

The compulsion so you’re able to prepay at least an integral part of the principal is actually strong. From inside the 2006, the newest Mumbai-created financial government was spending an EMI out-of Rs 6,134 at mortgage of eight.5%. Read More >