EMI for my home & car loans are 7000 &7500 respectively. Loans outstanding are5.8 & 3.2 lakhs respectively.?

Both the loans have floating interest rates. I have planned to pre pay the car loan first , within about 10months. I will surrender some of my LIC money back &endowment policies for this purpose. Thereafter I will have a sum of 90000/year (save on EMI) to invest , plus save on the interest payable for car loan.
Am I on the right track?
Where & how to invest the sum of 90000?