home loan repay option

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.

asked May 30 '11 at 19:46 by Rajiv 1446

If you have spare liquid money with you then it makes sense to prepay and close the loan as soon as possible.

answered May 31 '11 at 02:53 by Pankaj Batra 5.2k320


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Asked: May 30 '11 at 19:46

Seen: 2,113 times

Last updated: May 31 '11 at 02:53