Plan for maximum returns

POSTED BY The Qazaq ON December 12, 2010 10:56 pm COMMENTS (2)

Dear Manish & Members, Its a great contribution from you all & first let me thank & wish you all the best. My prevailing scenario is 

  1. I’ve been living in rented houses for the past 4 years & the total paid out is about 2 Lacs
  2. Currently i’m planning to move to a leased residence which shall be around 2 Lacs.
  3. I’m planning to raise the 2 Lacs at 1% int.(Hopefully, but that might also hike)
  4. My work out was that, i shall pay the interest monthly & save 5K every month & repay against capital.
  5. Every year i shall add up 1K for repayment.
  6. Likewise, after 2 yrs completion, i’ve added another Rs. 50000/- for lease renewal.
  7. Hypothetically, in the 40th month, i should have cleared my debts & my total interest payout would be Rs. 50800/-.

My query is 

  1. How can i monthly save the amount with best possible growth(of course with low risk as it needs to be with drawn every 6th month)
  2. This is to earn back the total or a part of the interest paid during the loan tenure.
  3. This is my broad idea & am not a proficient in finance. If anything better or best can be done, pls do suggest. I’m totally fed up with the pay out named “RENT”
With thanks in advance,
The Qazaq.

2 replies on this article “Plan for maximum returns”

  1. The Qazaq says:

    Dear Shashank!

    Thank you again for your quick reply.

    The first query is “Leased Residence”.
    In Tamilnadu we have a practice of leasing properties, ie, we pay a lumpsum amount for using the property & have a deed for, say 2 or 3 years. Till then we can use the property & when we vacate we’ll get back the initially paid lumpsum without any interest. else on mutual consent we can renew the deed by adding a part payment again with the initial package.

    Likewise every year i shall add Rs. 1000/- for repayment. ie. i shall pay Rs. 5000/- for first 1year, then Rs. 6000/- for 2nd year, Rs. 7000/- for 3rd & Rs. 8000/- for the rest 4 months.

    Hope i made it a little better. Pls do revert back if anything needs to be clarified yet

    Wtih Thanks & Regards

    The Qazaq.

  2. shashank kashettiwar says:

    Qazaq,
    Your querry seems to be interesting but it is not clear from the way you have described the situation. You have written in details ,no doubt, but the essence is not clear.
    That point 2. is still unclear to me even after reading it so many times. What exactly you mean by ‘leased residence’ and getting it for 2 laks? The point 5 is also unclear.

    Howsoever I wish to help you I can’t do it if the situation is not so clearly expressed.
    Can you do that?

    shashank

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