So I had a home loan in SBI which I made prepayment and closed early for purchase of a property. Now I want to construct over the same bought out property and I am requesting loan for it for construction costing around 20 lakhs. At the same time, I have some money saved (say approx 7 lakhs) and...
I currently have ₹15 lakh in savings and a home loan of ₹30 lakh that I’m paying off. I'm trying to decide whether to invest this ₹15 lakh or use it to pay down my loan principal.
Here’s some additional information:
The interest rate on my home loan is around 8.5%.
If I invest this 15 lakh...
I have two concerns and would appreciate your suggestions:
1. I applied for a personal loan from Kotak Mahindra Bank, and it's been two weeks since the documentation and approval process started. I received the loan agreement last Wednesday and the E-NACH request on Thursday. Everything has...