How to reduce my EMI and not the home loan tenure by prepaying the home loan ?

POSTED BY ndebjani ON September 21, 2014 10:55 pm ONE COMMENT

Have a home loan with SBI Kolkata, want to prepay 2 lakhs and I want my EMI to reduce and not the tenure but according to them they can only reduce tenure…can you please tell me what needs to be done or who do I talk to?

One reply on this article “How to reduce my EMI and not the home loan tenure by prepaying the home loan ?”

  1. Credexpert says:

    Dear Sir,

    If you are planning to prepay your home loan, we would suggest that you opt for reduction in tenure rather than reducing the EMI. This will help you save the interest that you are paying on the home loan. If you still want to go for reduction in EMI you need to negotiate with the bank official regarding the same.

    Regards,
    Credexpert

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