POSTED BY July 11, 2012 2:52 pm COMMENTS (5)ON
Need a suggestion.
I have a current outstanding housing loan of 16.85L with HDFC @ 10.75% Interest. I am paying monthly EMI of 30K. (have another 76 more months to finish my loan).
After reading about SBI Maxgain in these forums wanted to check if
1) It would make sense to shift to Maxgain. SBI said interest rate is 10.5%. Checked up with HDFC no prepayment penalty if I move to SBI.
I am aged 34 and my monthly salary is 90K (after tax). Of this approximate 20K goes out for various LIC Insurances, 10K for Equity MF SIP. 5K for Gold. 30K for EMI. 5K for Utilities and Bills. Family is run by my Wife\’s Salary including my kid\’s school fees etc.,
Over the years have created the following corpus
Stocks – 7 L
Equity MF\’s – 2 L
Will taking Maxgain help me out, thought will keep the surplus as emergency funds in the maxgain\’s OD account, as I always move my emergency funds to Equities. Also I am not planning to liquidate my corpus at this juncture and they may stay just as stocks and funds as of now.