Is it better to repay home loan earliest

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  1. Mahesh Deshmukh

    Mahesh Deshmukh New Member

    I have borrowed 24 lakhs of home loan from ICICI of which 1.7 lakhs principal amount is recovered along with interest. Now I am having 9 lakhs as bank balance. I would like to repay principal amount and want to reduce tenure with same EMI.

    What I should do? some friend told me not to paid as it is hard to get loan at 10.15%. I may require above balance for children education as education loan is at higher rate. Another friend says pay it as bank is recovering interest first and then principal.

    Please suggest which option is better for me?
     
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