Need A Financial Product › Forums › Loans › How to save interest outgo on home loan

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  • November 5, 2014 at 12:36 pm #48294
    samkapoor77
    Keymaster

    In the beginning of 2013, I took home loan from HDFC Ltd. for Rs. 86 lakhs for 20 years. Now, when I am generating good income and I want to prepay my loan every alternate month. But HDFC guys are saying that I can prepay only twice in one year. What to do when I have funds? How to save on interest outlay?

    November 9, 2014 at 2:46 am #48295
    samkapoor77
    Keymaster

    Open a recurring deposit account and start depositing your surplus money there or deposit the money in fixed deposit. Interest earned on these deposits will offset a part of interest outlay.

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