I have a home loan of Rs. 50 lakhs under SBI max gain. My monthly EMI is Rs. 48,000. I am planning to increase my EMI from 48,000 to Rs. 60,000. Am I right in m decision ort should I deposit a particular amount of money monthly in maxgain account?
It is advisable to deposit a particular amount of money monthly in your maxgain account as the money in it is withdrawable, so it will act like an emergency fund to you. Moreover, it will reduce your interest payments.