I have a MaxGain loan with an outstanding of 22L and an EMI of 32K. At the moment only I’m paying this EMI. Recently my wife has started working & we are in a position to increase the EMI upto 50K.
This way both of us could avail the tax benefit in proportion to our contribution. But bank is not allowing to increase EMI. Also bank says min 20% of outstanding is needed for part prepayment.
These are not written in the contract document anywhere? Can you suggest the way forward here.