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Community User Posted on 02:34pm 16-Sep-2019

I have a personal loan of Rs. 450,000 lakh at 11.99% with monthly EMI of Rs 11,848 for 4 years.

If I close the loan I will have to pay a penalty of Rs. 13,500 (3% on Rs. 4.5 lakh) incase of pre-closure of loan. It has completed a period of two years and five months, should I prepay the loan or I was thinking to open an FD (received a lumsum amount). Which is the better option?

  
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Community User Posted on 02:13pm 16-Sep-2019

  
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Community User Posted on 02:12pm 16-Sep-2019

  
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Community User Posted on 12:20pm 16-Sep-2019

What is your view on home loan interest rates?

Is the interest rate cycle at its all-time low? Can you elaborate on the same and explain along with the implication of inflation on interest rates and other factors to know about?

  
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Community User Posted on 12:19pm 16-Sep-2019

I monthly transfer Rs. 10,000 to my father s bank account, his age is 57 years and an earning member.

 What is the tax implication on me (will I get deduction) and will it be counted as income or gift in father s income?

  
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