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Thread: Which should be more beneficial, pre - payment towards Home Loans or Personal Loans?

  1. #1
    PolicyWala NewBie
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    Question Which should be more beneficial, pre - payment towards Home Loans or Personal Loans?

    I had taken two loans - home and personal. Both of these I am paying regullarly. I have recieved bonus this year, so have some extra month. Should I go ahead and make payment to my loans? If yes which one do you suggest? Which should be more beneficial, pre-payment towards Home Loans or Personal Loans?


  2. #2
    PolicyWala Guru v.r.s.nathan's Avatar
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    Default

    Pay first the loan where you are paying more interest. So in the above case pay the personal loan first.

  3. #3
    PolicyWala Fan
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    Go for pre-payment Personal loan first, because of high interest rates. In home loan, you also receive tax rebate so always check that also before making any pre-payment.
    The road to success??.. Is always under construction.


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