POSTED BY May 7, 2012 3:12 pm COMMENTS (4)ON
as i understand ,now there is no prepayment penalty for housing loan as per RBI’s directive. would there be any money outflow difference in following cases:?
1. i select for 10 yrs’ period for repayment and floating rate option at the start and pay accordingly.
2.i select for 20 yrs’ period for repayment and floating rate option at the start and pay the a/m (emi) from beginning to end as i would have taken loan for 10 yrs. the same a/m as case1 above will my loan be paid within 10 yrs.?