Home loans

If you have a home loan you might be really worried with the banks intrest rate going up again.
When banks increase intrest rates..they either increase your Monthly EMI(like 6000Rs a month to 6500 a month) or they increase number of EMIs(Like 5years to 5yrs and 8months)...depending upon your Age and number of service years left.
DO you which of these methods will save you money? NOne. But if you downpay the increase amount at once.(LIke 0.5% hike had made you total payable amount to 6lak 60thousand from 6lak) Pre-Pay the 60thousand if your poket allows you. This way you will be paying the least amount. Banks should not take Pre-Pay penatly...unless you have signed the documents agreeing to pay.