According to the sources, it is found that to improve the customer service, the RBI has taken the step. This new plan is going to help many customers whoever wants to prepay part or whole of their outstanding loan amount. Moreover it gives lot of advantages to the customer like prepayment amount is deducted from the principal so there will be less of interest taken from you and you have the option to adjust the tenure. The tenure of the loan will come down according to the amount of prepayment by keeping the EMI same or if the the EMI is giivng presure in your monthly income then you can alter the EMI amount and retain the same.