Its clear regarding a lot more than example you to definitely, you need to pre-shell out each day, in lieu of waiting to gather a beneficial corpus. Certain banks stipulate a minimum pre-percentage matter. Within a great monetary planning discipline, you ought to establish good pre-fee target on a yearly basis and you may pre-pay regularly.

Income tax work with getting dominant pre-commission

You could allege an effective deduction as high as Rs step 1 lakh to your home loan dominating commission less than Section 80C of your Earnings Taxation Work. [Read more…]