Topic: Closing a Home Mortagage loan

Dear Sir, I have a mortagage loan for which i am paying Rs.17860 as EMI for 180 years. The interest rate got reduced to 9.25% 3 months back. Now i am planning to close this loan. Let me know if this is a good idea.
I have one more mortagage loan for which i am paying Rs.9439 (it is for my existing house, where i am living) and i have started this loan in 2004 and the rate of interest is 11.50%. and i still have to pay Rs.593652/- .

Let me know which one i have to close. I am getting a loan from my company with 4% so i wanted to close one of those loans.

Regards
RK Vadlani

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