Need A Financial Product Forums Loans Can EMI be reduced by prepaying part of home loan

This topic contains 1 reply, has 2 voices, and was last updated by  Smita Maloo 3 years, 2 months ago.

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    Smita Maloo

    In order to purchase a house, I have borrowed from HDFC. Loan amount is Rs. 57 lakhs for 25 years and EMI is Rs. 63,000. I am a business person and I expect a cash inflow of Rs. 12 lakhs in another 15 days of time. Out of this, if I use Rs. 10 lakhs to prepay my loan, then is there any mechanism that I can get my EMIs reduced for same number of years?


    Hasan Shaikh

    In banking terms, we call it loan reconstruction. Talk to your loan serving branch. On charging fee for it, they will reconstruct your EMIs.

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