Dear Sir,

I have taken home loan of Rs.3000000/- to construct house n my site. But I have given the tenure as 12 yrs .i.e 144 months. Also I have mentioned moratorium period as 15months. Now I came to know that(after the loan approval) moraorium period in included within the tenure(which I was not aware of initially)  and hence the number of months to clear the loan come down to 129 months. Due to which the EMI too become higher.

1.My 1st question is,  is it possible to increase the tenure of the Max gain loan after the loan being approved with 1st dispursement being done? If yes I can apply for 20yrs max by which time I would attain the retirement age.

2.Also from the forum discussion, it is evident that we can have liquidity of the OD a/c and hence it could be better if I could have applied with the maximum tenure possible. Is that correct?

Please help me in this regard.

SMM