I am also a sr. citizen and thogh i have not come to the level of preclosure, i have bitter experiences in part payments.Whenever i want to make part payments, the bank will somehow pullon the case on flimcy grounds and ensure that the EMI for that month is collected eventhough i wantd to avoid it.Moreover the Bank is keen on only keeping the number of installments on high side always even though you request for reduction in the EMI tenure ,keeping the amount constant.Another factor is that they want atleast 6 month,s EMI to be left for closure on its own.It is a pity that the Prime Banks beg the customers literally to take the loan and when once it is taken you will be doomed once for all.
