Gaurav Mohta | Answer |Ask -Follow
Answered on Aug 02, 2022
You should always have some liquid amount available handy for regular day expenses or emergencies. Once you deduct this amount, the money available can then be used to prepay your home loan. This will help you save money on interest payments.
You can choose whether to make a bulk prepayment in one go or go for smaller prepayments. From a tax perspective, you can claim exemption on monthly EMI payments which you will not be able to once you pay back your home loan. So it might be preferable to make smaller prepayments instead.
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