banner_ad

Home Loan repayment query

Others 435 views 5 replies
Hi,

I have a home loan of Rs. 5 lac for which branch manager has intentionally increased loan tenure by 24 years instead of 5 years what I agreed. As per schedule the EMI is 4k per month which is charging higher interest every month.

My query is that if I am paying 10k per month, will it reduce interest portion till the loan is completed paid off.

Please solve me query...
Replies (5)
Yes, If You pay excess amount above EMI then it will reduce early closure...

But,

Why the manager extend it fro 5 to 24...???
The procedure:
write a letter to bank convincing of the problem you are facing
reschedule the loan
RAJA sir...will it reduce interest also?
Yes, May be...
As per that Loan Procedure**...
All loans are being disbursed at mclr rate.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details