Dear Ashal
I got sbi maxgain home loan sanctioned rs 1753000 for 17 years with 18 months moratorium period @ 10.25 pa. Bank has disbursed me Rs 410000 in oct 2013. Mine is under construction scheme, builders next demand for rs 500000 is expected in mid feb 2014. Right now i am paying pre emi rs 3580 pm for amount disbursed.
I have paid rs 540000 from my pocket while booking the flat.
1) As my portion is rs 928000 and bank portion is 1753000 (total cost of flat is rs 2681000) , i have already paid 58% of my portion so bank will not ask me to share demand note till disbursement reach 58% of the rs. 1753000 i.e. rs. 1016000. So i dont have to pay single rs being next demand is for rs. 500000.
2) My question is that right now i have rs 200000 to share the demand note. To reduce the pre emi i want to share this rs 200000 out of demand note of rs. 500000.
Is it right step , pl advice me.
regards
Milind saraf