Part Pre-payment of home loan during pre-emi tenure? Is it allowed

POSTED BY Jassi ON June 4, 2012 3:26 pm COMMENTS (2)

Hi,
Is one allowed to make some part pre-payments of home loan during pre-emi tenure?

Option to convert into emi was considered. But if one has extra cash, can pre-payment be done?

Rgds,
Jassi

2 replies on this article “Part Pre-payment of home loan during pre-emi tenure? Is it allowed”

  1. TheZionView says:

    I dont think many banks allow it. If you are prepaying during the partial disbursement of loan,It defies the logic of taking the loan.Just my Thought

  2. Dear Jassi, please check with your bank/financial institution. Some banks/FIs do not allow part prepayment during moratorium period (pre EMI period). On the other hand, some banks/FIs allow the same. So check with your lender.

    thanks

    Ashal

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