POSTED BY February 19, 2013 10:28 am COMMENTS (10)ON
I had taken a lesser amount of Home loan than the sanctioned amount yet the EMI i am paying is on the sanctioned amount and has not been revised. I had sent mail to the bank but they have not responded.
Is this correct or is it error from their part? also if i make part pre-payment of say Rs. 5000/- every month apart from my EMI. WIll the pre payment amount reduce my Principal amount and duration of loan?