Book balance for my SBI max gain home loan account is nearly zero. Available balance in the account includes both interest saved and surplus. I have heard that a loan can be prepaid using only surplus balance. Is this information correct? Can I prepay my entire loan using the available balance, i.e. using amount of interest saved as well?
I hope that this information will bring smile on your face. Available information with you is incorrect. You can prepay your SBI max gain home loan by using the entire available balance including your interest savings along with the surplus funds.