What is wise decision for Home Loan Payout ?

POSTED BY sdhingra ON June 11, 2014 2:19 pm COMMENTS (2)

What is wise decision for Home Loan Payout

a) Pay it as soon as possible using the Savings
b) Keep Home Loan for its tenure as it helps to save tax

I have a Home Loan of 30 lac for 20 years at 9.4%. Not sure whether to go with a or b option.

Saurabh

2 replies on this article “What is wise decision for Home Loan Payout ?”

  1. sharath Mumbai says:

    Your interest rate is low compared to what it is in market right now.
    you can use the money you are thinking to pay off your loan else where.
    Let the home loan be there as it gives you tax benefits. Invest in funds instead. Start an SIP. In the long run it would give returns much more than your home loan interest rate.

  2. Hemanth Chandra says:

    Don’t disturb your emergency fund and try to pay off ASAP.

    Please make some calculations of how much you will saving as tax if you pay in EMIs and is it really worth….

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