What should I choose ? high EMI or low EMI

[samkapoor77]

I borrowed home loan from Axis Bank. I am paying EMIs @ Rs. 12,500. The loan is for 20 years but I want to wrap it in 3 years. I have an ability to pay Rs. 45,000 p.m. for EMI but the banker insisted on keeping the EMI low. What will you suggest ? should I continue with same amount of EMI and pay a huge sum after 3 years or should I increase the amount?

[samkapoor77]

If you are not looking from tax point of view and you have the ability to pay then it is better to pay high EMI.

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