POSTED BY June 29, 2014 2:10 pm COMMENTS (5)ON
I am having a car loan from HDFC for 2 lakhs Rupees with interest rate of 11.99%.
Loan was started from 2012 with monthly EMI of 4404 and I already paid 26 EMI till date. Around 34 EMI is pending (approx. 149736 INR).
I saved some funds and now thinking about below options to use this money:
1) Close the car loan with around 3% pre-closing penalty.
2) Invest time amount in somewhere and let the loan continue.