I am 30 year old, 2 year married. We both work and earn around 2 lakh a month after tax.
We bought a house last year and it's been 13 months since, the house was worth 44 lakh, and we took a loan for 28.8 lakh, the loan was for 20 years, with monthly emi around 24 k with 7.5% interest rate.
In the last year I focused on paying principle on home loan as and when possible and now the principle is down to 20.8 lakh. The current emi split between principle and interest is around 13 for principle and 11 for interest
I have a yearly bonus coming up around 2 lakh, I know that, I have the loan at low interest rate .
Wanted to know if, it's right to invest it in equity or keep on prepaying the loan and get it more down.
We bought a house last year and it's been 13 months since, the house was worth 44 lakh, and we took a loan for 28.8 lakh, the loan was for 20 years, with monthly emi around 24 k with 7.5% interest rate.
In the last year I focused on paying principle on home loan as and when possible and now the principle is down to 20.8 lakh. The current emi split between principle and interest is around 13 for principle and 11 for interest
I have a yearly bonus coming up around 2 lakh, I know that, I have the loan at low interest rate .
Wanted to know if, it's right to invest it in equity or keep on prepaying the loan and get it more down.