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FAQ: Is repaying loan, a good option? - Property Hotline
Posted
June 17, 2016
Views
2,303
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11
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June 17, 2016
2,303
11
0.48%
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3:15Now PlayingBe Un Confused
Expert: PV Subramanyam, Home Finance expert
Q: I took a loan of Rs. 15 lakh. I'm paying Rs. 14,500 as an EMI every month. I want to know if I can prepay the principal amount by paying Rs. 5 lakh in the next 2 months’ time. Is it a good idea to prepay?
Answer: You can repay but it is advisable that you should not. It is better that you let the loan remain as it is and invest the money that you have in plans like ICICI Prudential life, or Franklin India Bluechip fund. Do a SIP there for the surplus money that you have. Wait for some time and decide in 2019 that whether you want to repay the loan or not.
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