That you are taking the responsibility of EMIs on his behalf if you want to help your brother with the loan, remember.

In an auto loan, can there be any pre-payment clause?–Mayank Bhardwaj

Yes, frequently there are prepayment limitations vehicle loans, particularly into the very first few years. Nonetheless, the costs vary by loan provider, term expired, loan outstanding along with your creditworthiness. Please browse the information on your vehicle loan sanction page to find the charges out.

We had taken loan of Rs 23 lakh from HDFC Bank additionally the EMI that is monthly is 18,500. I’ve maybe maybe not taken PMAY subsidy. I wish to increase my EMI to Rs 27,000 and do prepayment of Rs 5 lakh. Continue reading →