Part-prepayment in home loan

2 min read

The home loan part pre-payment facility allows you to pay off a substantial portion of the principal outstanding before its due date. This helps you save on your overall interest payment and leads to an EMI reduction, a tenor reduction, or both.

There is no limit on the maximum amount, however, the minimum amount per pre-pay transaction cannot be less than 3 EMIs.

Additional read: Factors to keep in mind when prepaying your home loan

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