More loans: the funds on hand will increase, the investment project can earn more profits, the living standard will be relatively improved, and the interest paid to the bank will also increase (of course, the return on investment must cover the interest), and the monthly repayment pressure will be great.

Loan reduction: the interest paid to the bank will be reduced. If there is investment demand, funds may be tight (of course, if there is good project investment, you can consider increasing the loan amount). The relative living standard will be lowered, and the monthly repayment pressure will be reduced.

How to choose depends on your own situation.