I would suggest by using both bull or partial flexi account, there is no need to minimize the loan principal, you might set up more income to minimize desire (towards the saving account or the socall virtual account below some other loan particular respectively). Save yourself the money having contigency. and you also shall merely get it done (decreasing the dominating), after you both planning to pay the house loan or obviously have too-much cash so you’re able to spare and extremely certain that you will not require the more income.

e.g. mortgage dominant once 36 months, is actually 85k . when you yourself have cash out-of 40k, no point dump directly into reduce the dominant. Because only reason to reduce dominant should be to save money on notice, just like the one another flexi mortgage already allowing you to do so. If you don’t has actually 85k of cash, and today, we wish to pay it off or you just need 40k bucks, then you can thought placing int the latest 45k to attenuate the brand new principal. [Read more…]