Is it advisable to opt for prepayment of housing loan in lumsum

226 views 2 replies

 Is it advisable to opt for prepayment of housing loan in lumsum , but major question is that , Bank / finance company charge and collect  interest component on entire housing loan amount in intial years,

Replies (2)
As per my view.,

NO... Interest will be calculated at the time of outstanding payment or Which will be paid by the borrower...

But,
Better to check out the details in Banks T/C in the Loan application...

 Thanks, Answer above  is not clear, there are 2 aspects of query.

1.. assume one  has certain funds, which he do not wants to invest in FD/ MF/ or utilize  for buying of furniture-jewellery

 then is it advisable /recommendable for him,to prepay part of housing loan .

2. as banks/ housing loan companies , opt  for EMI with major charged as interest component , minor is towards principle  ,in that scenario, whatever slum amount borrower repays , goes to interest component as major and minor towards repayment of reduced principle amount.

 so thus is it advisable for HL borrower to repay part of HL as lumsum one

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details