SomeRandomName
TF Buzz
How can I pay the ICICI home loan in most optimal way to save interest and also earn reward points along with it?
There is a ECS already setup in ICICI bank to auto debit the money on the due date.
I see ICICI home loan option is available in couple of portals.
1. Mobikwik
2. HDFC Billpay
3. SBI Unipay etc.
4. Cred
However, there are not letting me pay top-up to the loans (Once the bill is generated i can pay the money)
First of all any person having ICICI home loan.
Please help me understand.
Questions -
1. How do I verify the daily interest being charged on the home loan?
2. How do I prepay some money for the ICICI home loan?
3. How and when is the bill generated for the EMI payment?
4. If the due date is 5th of the month and the money is settled on 1st of month. Will i get charged got 1-5th of the month?
If we have answers to above 4 questions.
a) We can find portals which allow to pay the EMI before ECS automatically detects the money and earn reward points on it. (Note, we will need to keep a buffer money for an extra EMI everytime if there is double paymemt)
b) We have to find portals which allow top-up payment to home loan via rewards debit and credit cards.
c) We have to find portals which allow payment to home loan / top-ups through UPI (Rupay credit card) and use UPI offers.
We can earn easily 1.5% to 5% rewards points which can be be very beneficial for individual taking loans.
@Abhishek012
There is a ECS already setup in ICICI bank to auto debit the money on the due date.
I see ICICI home loan option is available in couple of portals.
1. Mobikwik
2. HDFC Billpay
3. SBI Unipay etc.
4. Cred
However, there are not letting me pay top-up to the loans (Once the bill is generated i can pay the money)
First of all any person having ICICI home loan.
Please help me understand.
Questions -
1. How do I verify the daily interest being charged on the home loan?
2. How do I prepay some money for the ICICI home loan?
3. How and when is the bill generated for the EMI payment?
4. If the due date is 5th of the month and the money is settled on 1st of month. Will i get charged got 1-5th of the month?
If we have answers to above 4 questions.
a) We can find portals which allow to pay the EMI before ECS automatically detects the money and earn reward points on it. (Note, we will need to keep a buffer money for an extra EMI everytime if there is double paymemt)
b) We have to find portals which allow top-up payment to home loan via rewards debit and credit cards.
c) We have to find portals which allow payment to home loan / top-ups through UPI (Rupay credit card) and use UPI offers.
We can earn easily 1.5% to 5% rewards points which can be be very beneficial for individual taking loans.
@Abhishek012
