Pre-closing of Home Loan
Easy access to a home loan in today’s time has opened paths for buyers from all segments to get their dream homes like Panchkula Flats 3bhk . However, it does put the financial burden on the borrower due to the long tenure along with the extra amount to be repaid. So the question arises whether it is a wise decision to repay the home earlier than the set duration? Pre-closing of the home loan not only puts off the financial ease but also helps the borrower to save on the extra loan amount. What is the Pre-closing of a Home Loan? The pre-closing of home loan is the early repayment of the loan than the earlier set tenure. The borrower can repay the half or full loan earlier than the pre-decided tenure to save the money that the borrower was supposed to pay for interest. While it is a debatable topic whether to invest the money in some other asset class instead of early repayment of home loan, it depends on the borrower’s choice. If easing off the financial burden is the goal, then i...