POSTED BY August 27, 2014 1:05 pm COMMENTS (2)ON
Hello JagoInvestor members,
I had taken a home loan of 10 lac (for 10 years) during 2012. My sole purpose of purchasing flat was investment and not for accommodation as I already have one house in the same city.
Since my plan from very beginning was to repay the entire home loan within 4 years, I had stopped investing money in MF/Equities (since 2012). Since I am falling into 20 % tax bracket and might get into 30 % bracket in a year or so, what should be my strategy –
1. Repay entire loan
2. Continue paying EMI (for remaining 8 years) considering the high tax bracket and thereafter start investing in FD/MF/Equities/Gold
Return on my saving (for repayment of home loan) is 8.5 – 9 %
Please share your valuable guidance and experience to get rid of this dilemma.
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