You ought to carefully examine these facts and you will coming monetary desires just before thinking about home loan prepayment
Your financial preparations: Prepaying a mortgage far earlier than the booked period you’ll need a great deal. This might sink your savings. Therefore, bring a call based on debt updates and coming agreements ahead of utilizing your difficult-acquired money in prepaying the borrowed funds.
Taxation pros: According to the Taxation Operate, 1961, you could allege tax different as high as Rs step 1.5 lakh a year to the dominant count payment below Point 80C. On top of that, you can even claim to Rs. (mais…)
