Home mortgage prepayment must be our high precedence. Why? Because it’s going to ultimately make one mortgage free. But individuals get confused about prepaying their house loans early. Why do they get confused? Because they don’t need to lose the chance to avoid wasting revenue tax underneath sections 80C and 24. Some individuals want investing cash elsewhere in shares or mutual funds as an alternative of utilizing it to prepay their house mortgage. Comparing the precedence of house mortgage prepayment with revenue tax saving and return on funding is not a good comparability. Becoming mortgage free is extra vital than any of the alternate options.
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