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.