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Should you prepay your home loan?
This article discusses the pros and cons of prepaying a home loan. It also helps you decide if you should prepay or not.
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Note: Please treat the opinion expressed here as a broad suggestion. Please consult your financial planner / investment advisor before making any investment decision.
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Re: Should you prepay your home loan?
Hi Ramgp,
Thanks for your interest in this article. However, this is an upcoming article.
I would write it and publish it soon. Stay tuned!
Thanks for your interest in this article. However, this is an upcoming article.
I would write it and publish it soon. Stay tuned!
Author:
Msharma
Jun 26, 2009
Jun 26, 2009
Re: Should you prepay your home loan?
Dear Sir
I'm paying home-loan to State Bank of Patiala. I would like to know pros & cons of prepaying home-loan. Please guide me.
Regards
msharma
I'm paying home-loan to State Bank of Patiala. I would like to know pros & cons of prepaying home-loan. Please guide me.
Regards
msharma
Re: Re: Should you prepay your home loan?
Hi,
I understand your interest. I would be writing about it soon.
I understand your interest. I would be writing about it soon.
Can I take Home Loan from multiple banks
Hi,
Can I take Home loan for a single flat from multiple banks in chunks? For example, I need 15L and would like to take 5L from SBI and 10L from Canara due to the low initial interest offerings from both. Is this possible? Do banks allow this? Can you please clarify?
Regards,
Dhanaprakash
Can I take Home loan for a single flat from multiple banks in chunks? For example, I need 15L and would like to take 5L from SBI and 10L from Canara due to the low initial interest offerings from both. Is this possible? Do banks allow this? Can you please clarify?
Regards,
Dhanaprakash
Re: Can I take Home Loan from multiple banks
Hi Dhanaprakash,
I do not believe this would be possible, as the banks would not allow this.
When you take a home loan, you have to mortgage the house to the bank - you would not be able to do this for 2 banks.
I do not believe this would be possible, as the banks would not allow this.
When you take a home loan, you have to mortgage the house to the bank - you would not be able to do this for 2 banks.
Author:
Vijay Watwani
Jan 01, 2010
Jan 01, 2010
Interest recalculation based on revised loan duration
Sir,
I am looking to prepay my loan but the bank is not ready to recalculate the interest based on shorter time period. They want to close the loan at "current" outstanding principal which is based on their original EMI chart made based on original loan tenure. This EMI chart obviously works in banks' favor as earlier EMIs go more towards paying interest rather than the principal. Pls guide if this practice by the bank is legal or it can be challenged in the consumer court or forum.
Thanks,
Vijay
I am looking to prepay my loan but the bank is not ready to recalculate the interest based on shorter time period. They want to close the loan at "current" outstanding principal which is based on their original EMI chart made based on original loan tenure. This EMI chart obviously works in banks' favor as earlier EMIs go more towards paying interest rather than the principal. Pls guide if this practice by the bank is legal or it can be challenged in the consumer court or forum.
Thanks,
Vijay
Author:
rana
May 19, 2010
May 19, 2010
when is it happening
u were going to write it on 30 dec 2k7..
itz 19 may 2k10
so whn is it gng to be published ..
itz 19 may 2k10
so whn is it gng to be published ..
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I would like to read this article.Shall be thankful if you please give an access to the same.
I like to read your articles which are very informative and lucidly explained.
Thanks
Remgp