POSTED BY January 9, 2013 10:54 am COMMENTS (6)ON
Am in a dilemma to choose between home loan pre payment and retirement corpus building.
I have been paying Rs. 36,000 per year towards LIC Market Plus ULIP (total Rs. 2,16,000).
It’s value today is only Rs. 2,46,000 after 6 years. I checked with LIC agent and found its surrender value to be same as the current value of 2,46,000
I also have home loan for Rs. 39 L with SBI Maxgain. Since the loan amount is quite high, am thinking to put this money into prepaying home loan. But that would result in nil corpus towards retirement after 7 years of experience. To make up for that, am planning to open 3 or 4 SIPs for a total value of Rs. 10,000.
Please advise if this approach is good or should i look at putting that 2L into PPF in two slabs, 1L right away and another 1L on April first week.