DIFFERENT ASPECTS OF PREPAYMENT OF HOME LOANS
Prepayment is kind of early repayment of a loan. It can be paid both in part or in a full way by a borrower. Sometimes, people get into the oscillation stage when they have some additional liquid cash in their hands and they thought for prepaying existing home loans or invest those in other financial instruments. But before getting into a dilemma they should ask themselves if they are paying interest on home loan which is too high or not. They can compare the interest which is applicable to a particular home loan after subtracting tax savings with the expected returns from fixed deposits or equities. Basically fixed deposits are lower than the rate of interest in home loan, while on the other hand, equities can deliver higher returns but these are uncertain in short term. The Home loan Schemes are available for Concorde Mayfair Project, an upcoming residential apartments in Medahalli, Bangalore. Concorde Mayfair Tax benefits on home loans Several tax benefit...