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Personal Finance

Do not overestimate tax benefits on home loan repayment

Updated : July 24, 2019 08:47 AM IST

Home loan borrowers do not want to prepay their loan just because of associated tax benefits. I do not deny that home loan repayment comes with tax benefits bringing down the effective cost of the home loan.
However, sometimes, these tax benefits on home loans can be overrated.
Since the tax benefits are capped, you may not get as much tax benefit as you think you are. In fact, you may pay off part of the loan and still get almost similar tax benefits.
Do not overestimate tax benefits on home loan repayment
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