I have taken a home loan of Rs. 1250000 from HDFC in this month to purchase a resale flat, ROI 10.5%, duration 240 months.

1. When I went to HDFC to collect a cheque, the sales representative was behind me like anything to purchase a HDFC suraksha plus insurance policy. But I had no intentions to purchase the same (thanks to jagoinvestor & Manish) , hence I strongly refused the same. He was trying to convince me for atleast half an hour and was expecting to change my mind. Finally he ended up with the statement that, “Its not compulsion but I will quote it as a mandatory suggestion.” Really funny and extremely irritating.

2. I requested him to increase my EMI but he said that it is only possible after 2-3 months. Is there any rule like this? If not, what should I do?

3. I want to increase my EMI. Considering the recent RBI news of no penalty on prepayment, which is better choice: Either increase prepayment or let EMI be the same and make disciplined prepayments every month(this amount will vary every month but would be more than the 1st option……of course disciplne is the key) .

4. Is there any min. prepayment amount decided by HDFC for fresh loans?

5. Can we make prepayments online?

Thnks in advance.