Hi,

I have taken an Home Loan for 30Lakhs for a total period of 15 years, my loan is sanctioned in Dec 2012 and first Cheque was disbursed to builder on Dec 10th 2012. Currently bank has disbursed total of 27Lakhs (to Builder) and I’m now paying 34,000 EMI per month started Jan 2013. Remaining 3 Lakhs yet to be disbursed to the builder. I have now 3Lakh money to do a part payment to Bank.

Can you please suggest me if I should first take the remaining 3 Lakhs from Bank first to give to the Builder or ask bank to reduce my Loan amount to 27 Lakhs and I can pay the builder remaining amount for 3 Lakhs from my side.

Could you please suggest which is the most beneficial to me?

Thanks,
Rakesh