I HAVE AN ACTIVE HOME LOAN WORTH RS 16 LAC ON MARCH 2021 TAKEN FOR CONSTRUCTION ( 2 YEARS ONLY INTEREST AFTER THAT EMI OF RS 12152 ALREADY PAID APPROX 5 LAC + AMOUNT TILL DATE FOR 24 YEARS .
KINDLY GUIDE TO REDUCE EMI BURDEN & CLOSE IT EARLIER .
I think both points are different may be contradictory. Try to understand if your priority is to reduce EMI burden only then probable way are somehow extended loan repay time or anyhow rate of interest reduce by bank. If you want to close it earlier than you have to Pay some amount directly in principal amount so that it close early or take more more burden of payment like atleast add one or more EMI in a financial year.
