Is a right choice of the date of EMI important

[samkapoor77]

I have a running home loan from ICICI Bank. For the purpose of EMI, I have chosen 8th of every month as the date of payment. Every month on this date, amount of EMI is auto debited from my savings bank account maintained with ICICI Bank. Does the date of EMI matter? Will it make any difference if the date is beginning of month or end of month or any date in a month?

[samkapoor77]

Until and unless, the loan is from SBI maxgain, it won’t matter. Since you have borrowed from ICICI Bank, in your case the dates are irrelevant.

[Author]

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