Hello, I have home loan (HL) of 20L from SBI (Maxgain) @ 9.25% fixed interest rate for initial 5yrs, started in May 2009. As per the documents, I can close HL after 3 yrs (i.e. after May-2012). Already, I have done prepayment of 10L.Now, I have another 10L (+4L for refurnishing house, investment) available in hand from my onsite journey.

My net salary is 50K after tax. From saving point of view,
Rs 5000/month SIP investment since 1 yr
1L NSC.
No policies,
health insurance covered by my company.

Now, I am confused whether to close my HL completly or not since its overdraft account. Would it be beneficial if I close HL? Your opinion is highly appreciated. (I know finally I have to take a call but before taking any decision, I would like to know your view as well).

Thanks in advance,

– Sandeep