Read More@ Financial Express
If your loan is expensive to keep, pay off the loan as soon as possible. It is better to take care of unplanned expenses so that high-interest personal loans and loans on credit cards may be avoided. Sometimes people want to take a loan to avail of the benefits of 24B and 80C. To close your loan prematurely, you need to give written information to your bank that you desire to close the loan. But the payable interest has to be cleared.