16 Prepaying Home loan The 25 bps rate cut by the RBI notwithstanding, no lender has talked of lowering the rate of interest on home loans. So, if you are an existing borrower and can afford to prepay your home loan in part or in full, better do so and save on the interest outgo. What’s more, there is no prepayment penalty on home loans either. But prepayment also has its tax implications. Here’s a home loan prepayment plan for the next financial year
In July 1998, the Group launched "Intelligent Investor" re-christened as "OUTLOOK MONEY" as of 30-Nov-2002, India's first personal finance magazine, which offers sound strategies for the lay investor, especially the growing segment of salaried middle and upper middle-class and self-employed professionals. Its message is clear and simple: 'Invest well, borrow wisely, spend smartly'. Evidently, that message has gone down well: the magazine sold upwards of 1,00,000 copies a fortnight within a year. One of its distinguishing characteristics is that about 93 per cent of readers retain all past issues of Outlook Money
