I am paying off EMI's for two loans - home loan and personal loan. Just got bonus. I want to use this money to make additional payment towards the above said loans. Which should be more beneficial, pre-payment towards Home Loans or Personal Loans?
I am paying off EMI's for two loans - home loan and personal loan. Just got bonus. I want to use this money to make additional payment towards the above said loans. Which should be more beneficial, pre-payment towards Home Loans or Personal Loans?
Always pay high interest loan first. Out of the two mentioned above the personal loan would be high interest loan, so pay this one first.