I have a home loan of 2.7 lacs.Currently I need to pay 1.13 lacs rest i paid.Current interest per month is roughly 1100 rs. I get total annual rebate on home loan interest upto 13000 rs.Shall I pay the balance 1.13 lacs in one go or keep paying 4000 rs as EMI to avail tax benefit on rs 13000. I dont avail tax benefit on principal amt has I already have 100000 rs saving from other investments.
1 Answers
If you have spare liquid money with you then it makes sense to prepay and close the loan as soon as possible.
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