POSTED BY August 12, 2012 6:05 am COMMENTS (3)ON
I have invested 2.5L 3years ago in post office KVP in my mother’s name. I also invested in flat for an under construction property in chennai recently. My next payment is due to builder in 3months (about 10L) and I am thinking to surrender my KVP now so that I don’t have to take loan from bank yet. If I let the KVP mature it I will get 5L after 5years. I can arrange my own funds of 7lakhs in 3month for payment to builder and will have shortage of 3L.
Is surrendering KVP makes sense? I am only delaying taking house loan from the bank as much as possible as I dont’ have to start paying interest.
Please give your insight and valuable comments.
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3 replies on this article “Kisan Vikas Patra :: Surrender”
I can take loan from someone for 2.5L but I personally don’t like to take loan from friends or relatives. If I let my KVP mature and wait for another 5years I will get 5L but the value of this amount will be worth only 3L or so.
If no other option I will avail homeloan. The reason I am trying to delay homeloan is I am thinking to apply for SBI Max gain. I already have home loan approved from HDFC but haven’t availed any loan yet.
Dear Bharat, for the given situation that you neither want to loan from friends nor banks, please surrender this KVP & use the amount for your need.
Dear Bharat, if you are not going to surrender that KVP & not going for home loan, from where do you think to provide the amount?