Hi, I am looking for help in planning my investments. Below are the details Goal : Re-payment of House loan ( loan amount 23lakh, I pay 23 thousand EMI ; tenure 20 years ; loan was taken on NOV-2013) My Income : I get around 80K per month after taxes and other deductions age : 25 I want invest in any SIP mutual funds (or) similar plans and clear the loan in 7 to 8 years. please suggest me the best plans to invest money. I do not have much experience with the financial world and request you to suggest the best course of action. I will follow as you told. Thanks, Siva
I suggest you to use RD of a year. After completion of a year, pay towards principal. I am not saying that you will NOT earn more than 9.9% by investing money. But it is always a peace of mind to come out of debt at the earliest.
OK..Now think within 7-8 years by investing in any other product, do you feel you earn 9.90% or more? Just few questions to you. Please answer.
I am not sure. I have ZERO experience with the investing world. If you say, paying 3-4 lakh annually towards principal amount is the best way to deal with it, I will do that.