Does choosing the date of month for home loan EMI matter ?

POSTED BY astrosunil ON April 3, 2014 8:31 pm ONE COMMENT

Hello,   I have chosen 5th of every month as date for home -loan  EMI to be auto debited from my account . Does it make a difference if I choose a date at beginning of month or end of month  ?   I can think of one point – If the balance in savings bank account is more , then daily balance is observed for savings bank interest calculation, so i’ll get a bit more interest computed at 3 or 4 percent.

One reply on this article “Does choosing the date of month for home loan EMI matter ?”

  1. ashalanshu says:

    Dear Sunil, unless your loan is SBI Max Gain, date is not relevant.

    Thanks

    Ashal

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