POSTED BY May 24, 2013 9:17 am COMMENTS (5)ON
1) I have a home-loan of about Rs 25 lacs, for 20 yrs, of which 15 lacs has been disbursed by the bank. On this, I am paying an EMI of about 17000 p.m. I am using the EMI to gain on the tax benefit.
2) I surrendered a ULIP policy and got about 13 lacs.
3) I have a goal of getting about 20 lacs in 7 yrs, in time for the child’s higher education needs.
So, my question is, on what is the best way to reach the goal, with the amount ?
A) So, should I repay the home-loan and invest the EMI saved towards some MF ?
B) Invest the lump-sum in some post-office scheme for long-term ? I am wary investing this amount into equity ?