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- Answered on Dec 24, 2019

Asked on - Dec 24, 2019Hindi

I have a home loan with SBI and the outstanding as on date is Rs 11 lakh. The rate of interest is 11.45 per cent. I am presently paying the EMI from the rental income from this house.

Does it make sense to pay off the outstanding by breaking an FD that I presently hold, or should I just continue with the EMIs for the rest of the tenure?

Ans: No FD can possibly give you an interest rate that will exceed the interest rate you are paying on the home loan. Liquidate the FD and payoff the home loan immediately.

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