Hi Sir,
I have received a lumpsum of 10 lakhs.
Am in 2 minds. Should I foreclose my home loan or should I go for investments in MFs.
my home loan is 32 lakhs. 31478/month.If I foreclose, my EMI will come down to 21000/month (approx)
1 Answers
Hi,
If have not made sufficient investments for your long-term goals like Retirement etc., its better you invest for your goals than for pre-payment.
Also the interest rate scenario is in downward-trend. So, you may make use of this trend and claim tax benefits on your home loan.
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