Home   >>    Articles   >>    Historical Queries   >>     Home Loan   >>    25909-loan-ICICI-currently-10-25-amt-3000000-better
Get Home Loan Offers
A maximum of 5 providers will compete to give you the best rates (Jan 2018)
Yes No    

Preferred Banks
  •  Any 5
  •  HDFC
  •  DHFL
  •  HSBC


I authorize the website and its partner providers like HDFC Ltd, ICICI Bank, DHFL and other banks/NBFCs to call or SMS me in connection with my application & agree to the Privacy Policy and Terms of use

Search Queries related to...

Did not get what you were looking for? Ask an Expert

Ask An Expert

Date : Jul 23, 2009


I have taken a loan from ICICI at (currently)10.25% for an amt of Rs. 3000000. Is it better to foreclose the home loan in the initial years or towards the end - what is the impact in this case ? I have some extra amount but whether should I part pay it now or later. Plz advise.


Since you have taken a home loan at a floating rate of interest, it is anyways subject to change. You should explore the option of changing your home loan lender as you should be able to get an interest rate of around 10% to 10.50% if you have maintained a good track record of repayment on the loan. If you have surplus funds and you can also pre-pay a part of the home loan as it will reduce the monthly EMI burden. Quite a few banks do not charge pre-payment penalty if the loan is prepaid partially. The definition of what constitutes partial pre-payment varies from bank to bank. This will ensure savings in pre-payment penalty and at the same time help you to save on high interest costs on a substantial portion of the loan. However, before you decide to pre-pay a home loan, it is in your interest to first clear off all unsecured dues like credit card dues and personal loans. Also, make sure that you have some money set aside to meet emergency expenses. Tax calculation can change the view on pre-payment. You can also check the 'Should I switch my loan' calculator on Apnaloan to check whether it makes sense to change the lender.



25998 I am looking for the the bank in Bangalore, which offers the best deal( lowest interest rate, a
25993 What is the current best interest rate offered by any Bank in India for a loan below 20lakhs
25992 myself and my wife both are working. we have purchaged a house on joint name. we have taken fin
25991 Dear sir, Near to Bangalore International Airport, Devanahally, I have seen one layout and inte
25989 Hi There, Iam planning to buy a land worth 11, 00,000 Would i be able to get loan to buy
25984 iam working in a propirotship company since 1997,drawing 15000.00 salary. No bank accepting my
25983 Dear Sir, I took home loan from HDFC bank, when I questioned for difference of ROI for differe
25979 Hi, we 3 friends have decided to buy a land and construct a house for our own use. We were inte
25976 My salary comes to 39000 p.m if we purchase home my salary goes to 41000 p.m I want purchase si
25975 Sir, I am working in Aurangabad(Maharashtra) but want a property in Bhubaneswar,Orissa. As oris
25974 I am buying a property at Tilak Nagar, at Ayodhya society which is a Mhada land developed by bu
25964 in want urgent loan right now where to got 125000 required i amy army personal and geting myu s
25963 Harsh,from past 118 months I have relocated from mumbai and now based out at Noida. I work as a
25962 Hello, This is Praveen. I am currently having a home loan account with ICICI Bank. My present
25961 sir, I am an airforce employee. i have been allotted a dwelling unit in Kharar (Mohali- chandig
25959 Hi, I am a NRI working in dubai. I had approached the HDFC representative office in dubai. I w
25956 HI, Im plannig to buy a house of Rs 35 L and my load eligibility is Rs 22 L, the property ident
25954 currently i am staying in kharghar on rent basis.I am looking for house in kharghar at Rs 12000
25951 Hi HARHH I have sanctioned a home loan from IDBI,let me guide,what are the rules or u c
25942 my net salari is 6000 cani get a home loan about 200000
25931 Can I get a loan for purchase of land for construction of house
25922 i am having 30000 as take home salary how much ican get home loan in hyderabad[Please enter
25921 I talked to one of the SBI Guy regarding HomeLoan. He said that to get a HomeLoan from SBI we n
25919 hello sir i am defualt in icici can i opt a home loan ha?
25917 my son has filed his first it return for asst. year 2009-2010 as he attained major .earlier hi
25912 My income is 21000 per month. I want to take a home loan. I do not have IT return acknowledge s
25910 Please advice what will be the per month EMI ( interest)for Rs.20 lac flat , for a pd. of 20