Hi All,
I already have two home loans for which I am paying more than 45 K as EMI. The details are below
1. SBI maxgain loan amount 20L, tenure 20 years, EMI around 20K But so far I have been paying only interest - as a result of which the loan is like a new loan (though I have taken the loan 5 yrs ego).
2. Axis Bank Loan loan amount 24L, tenure 15 yrs, EMI 26 K. a new loan for which the EMI should start from Jan 2013.
Now I have 40 thousands saving every month, Which one of the below two investment/savings options should I consider?
A. Buy a new flat in Bangalore which is in sort of a pre-launch (assuming I can arrange a 20% value of a property ) for which I will pay 30 K to 40K per month as EMI)
B. Pay 40K per month towards the prepayment of my Axis loan
C. Pay 40K per month towards the prepayment of my SBI MAX Gain Home loan
I request you guys to explain elaborately which is better option for me and why
Thanks,
Ramakrishna
I already have two home loans for which I am paying more than 45 K as EMI. The details are below
1. SBI maxgain loan amount 20L, tenure 20 years, EMI around 20K But so far I have been paying only interest - as a result of which the loan is like a new loan (though I have taken the loan 5 yrs ego).
2. Axis Bank Loan loan amount 24L, tenure 15 yrs, EMI 26 K. a new loan for which the EMI should start from Jan 2013.
Now I have 40 thousands saving every month, Which one of the below two investment/savings options should I consider?
A. Buy a new flat in Bangalore which is in sort of a pre-launch (assuming I can arrange a 20% value of a property ) for which I will pay 30 K to 40K per month as EMI)
B. Pay 40K per month towards the prepayment of my Axis loan
C. Pay 40K per month towards the prepayment of my SBI MAX Gain Home loan
I request you guys to explain elaborately which is better option for me and why
Thanks,
Ramakrishna