Hi,
I am holding 3 personal loans with different tenure and interest rates with different banks. I now have some surplus amount in my savings accounts, which I can use to close one of them. But I would like to prioritize, which one to close first and second and third. Please find the loan details (split Int and Pri). Please help me prioritize.
| paid | Pending | ||
| Amount | 110000 |
personal Loan (Start date 03-June-2012) |
|
| Tenure | 3 Y | ||
| Interest | 14% | ||
| EMI | 3773 | ||
| Pre-Closure | 4% | ||
| Bank | HDFC | ||
| Total Int | 25343 (100%) | 13431 (53%) | 11911 (47%) |
| Total Prin | 110000 (100%) | 31869 (29%) | 78100 (71%) |
| Amount | 300000 |
personal Loan ( Start dt - 03-May-2011) |
|
| Tenure | 5 Y | ||
| Interest | 14% | ||
| EMI | 6998 | ||
| Pre-Closure | 4% | ||
| Bank | HDFC | ||
| Total Int | 118828 (100%) | 73970 (62%) | 44857 (38%) |
| Total Prin | 300000(100%) | 102000 (34%) | 198000 (66%) |
| Amount | 550000 |
Car Loan ( Start dt - 01-Mar-2012) |
|
| Tenure | 7 Y | ||
| Interest | 10% | ||
| EMI | 9815 | ||
| Pre-Closure | 0% | ||
| Bank | SBI | ||
| Total Int | 250743 (100%) | 75222 (30%) | 175520 (70%) |
| Total Prin | 550000 (100%) | 71500 (13%) | 478500 (87%) |
My browser was not able to attach the file in excel ( so pasted the stats above)
CAclubindia
