It will improve your credit score. The reduced EMI will help you to pay your EMIs on time. You may also have some surplus money in your hand which may help you to do part prepayment. This will further reduce the principal amount and your EMI. This may have a positive impact on your credit score.
It will enable you to make prepayments. You should transfer your Home Loan in such a bank or NBFC that offers prepayment and foreclosure facility free of cost. So that, you can prepay some amount and reduce down your EMI.
It will help you to avail value-added services such as customised insurance scheme, online loan of management, Top-up Loan, etc.
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