Should I choose for a house financial loan or an overdraft-linked financial loan?- Property Hotline
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Specialist: PV Subramanyam, Dwelling finance specialist.
Question: I want to borrow Rs 45 Lakhs from Central Financial institution of India. Should I choose for a house financial loan or an overdraft-linked financial loan? Will I save revenue if I use surplus resources to make a pre-payment?
Answer: You have the benefit of income in a more robust forex than the rupee – so the total that you repay around 10 decades is likely to value you a lot, a lot lesser in conditions of US dollar. How a lot curiosity you will save is a question which only you can solution simply because it relies upon on the curiosity prices, the total you leave as a balance, the trade rate, etc. In all very likely hood if you put the surplus to perform in a fantastic fairness mutual fund, that corpus is very likely to be larger than the revenue that you repaid – around say a 10-twelve year period of time.
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