Prepay News
Factors to note before prepaying loans
When
should one foreclose a loan, if one can?
The kind of loan you have taken will decide whether you should foreclose or
stick to the EMI schedule. Here are the three factors you need to consider
before prepaying:
Unsecured debt: Be it a personal loan or a credit card
loan, this should be the first to be foreclosed. Usually, such loans do not
come with a part prepayment option.
Tax incentives:
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