Home Loan repayment query

Sandeep Sharma (Accounts executive) (552 Points)

08 August 2023  
Hi,

I have a home loan of Rs. 5 lac for which branch manager has intentionally increased loan tenure by 24 years instead of 5 years what I agreed. As per schedule the EMI is 4k per month which is charging higher interest every month.

My query is that if I am paying 10k per month, will it reduce interest portion till the loan is completed paid off.

Please solve me query...