Hello, I have an outstanding home loan of 10 Lacs , which has EMI of 40k. In next future I will be getting some extra money. Is it beneficial to pre-close the home loan by paying the outstanding amount vs investing that amount in a mutual fund.
Would like to understand from experts considering I am getting tax benefit for interest I am paying on home loan
1 Answers
Hi,
Few questions for self-introspection;
1 - How comfortable are you carrying a debt ?
2 - Did you complete more than half tenure of home loan?
3 - Have you ear-marked any investments for your retirement and other financial goals?
4 - Are you going with new tax regime from AY 2021-22?
Related article :
Investing in Mutual Funds while paying Home Loan EMIs | Cost-Benefit Analysis
Please login or Register to submit your answer