Reducing tenure or EMI in Personal Loan

POSTED BY Girish ON September 20, 2013 12:51 pm COMMENTS (2)


I am planing to take personal loan and the company offering Flexible option of Reducing either Tenure or EMI on partial pre payment. I am confused whether I go for reducing tenure or EMI and how it going to help me. Please clarify the same.

Thanks in advance.

2 replies on this article “Reducing tenure or EMI in Personal Loan”

  1. Girish says:

    Hi Ashal,

    Thanks for the valuable information.

  2. ashalanshu says:

    Dear Girish, whenever there is an option to reduce either EMI or Term, always use reduction in term with constant EMI. This ‘ll help you to pay out your loan early with lower interest. In case of EMI reduction, your over all interest pay out ‘ll be higher. Please do not go by my words & check on your own in your PC in exl. loan amortization template.



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