If a penny saved is a penny earned, prepaying a home loan may be the best investment option available. If you have a large home loan running, you would do well to make partial prepayments as soon as you can.There are some obvious benefits of foreclosing a long-term loan. Yet, a long-term loan may be unavoidable in some circumstances. This can have a dramatic impact on the loan tenure. Though overdraft facilities normally entail annual maintenance charges, home loan overdraft facilities are exempt from this charge.

Source: Economic Times March 12, 2018 00:56 UTC