🔥🔥 Prepay Home Loan OR Invest extra money
If you have extra money, should you prepay your home loan or invest this extra money?
If you have a home loan of 50 lakhs for 20 years at 9% interest rate,, your EMI will be around 45,000 per month.
Let's say you took the loan in Aug 2024 and now in Aug 2025, you have 5 lacs extra money with you and the question is should you prepay your loan or invest this 5 lacs?
If you prepay your home loan, your 20 years of home loan will be settled in 16 years only assuming you keep EMI unchanged. This will save you around 17 lakhs in interest payments.
Now if you invest this 5 lacs, for the next 19 years,
at 12% annual returns, you will have 43 lacs with you.
at 10% annual returns, you will have 30 lacs with you.
at 9% annual returns, you will have 25 lacs with you.
In my view investing is a better option any day.
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