I have multiple home loans amounted 42 Lakhs, 22 L and 7 L and the tenure remaining are 180 months, 167 months and 154 months respectively. Would like to make part payment of 4 lakhs, which loan should I pay to get the maximum benefits? Please throw some light on this..
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  • Prepay on which you pay more interest component and rate of interest . By the way how much has your property price moved in the last couple of years ?
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  • Assuming all 3 loans are running at same rate of interest, prepay the loan with longest residual tenor, thereby saving maximum. If handling multiple EMIs is a problem than smallest loan should be targeted first.
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