POSTED BY May 18, 2012 2:05 pm COMMENTS (9)ON
I have taken a home loan of 18L in 2011 from LIC with interest rate of 9.75%(fixed for five years) and then floating.Total tenure is 20 years and my EMI is 17000.
I want to repay the loan with more amount than EMI frequently,during the remaining four years before it moves to floating.
I want to know if it a good choice or should I plan for investment and just continue with normal EMI? Since my interest rate is around 9, I am in two minds.
I am currently 29 years old and my take home is 60K. Will get married this year.
Please suggest me good option in dealing with the loan repayment.