Can I take loan and invest in mutual funds?
It is never advisable to invest in mutual funds by taking a personal loan. In fact, if you take a personal loan, you will see that in the terms and conditions, it is clearly mentioned that the loan amount can no be invested in any securities or in any kind of speculative instruments or products.
Can I withdraw all my money from mutual fund?
You simply have to log-on to the ‘Online Transaction’ page of the desired Mutual Fund and log-in using your Folio Number and/or the PAN, select the Scheme and the number of units (or the amount) you wish to redeem and confirm your transaction.
Are you taxed on mutual fund withdrawals?
In general, most distributions you receive from a mutual fund must be declared as investment income on your yearly taxes. In some cases, distributions are subject to your ordinary income tax rate, which is the highest rate. In other cases, you may be eligible to pay the lower capital gains tax rate.
What is the maximum tenure under loan against property?
Eligibility Criteria for Loan Against Property
Loan Amount | Rs 10 lakh – Rs 5 crore* |
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Age | Minimum: 25 Years Maximum: 65 Years or retirement age whichever is earlier |
Eligible profiles | Salaried & Self-Employed |
Tenure | Up to 15 Years |
Why one should go for loan against Mutual Fund?
Benefits of borrowing against mutual fund units The interest rates for a loan against mutual funds can be lower than that for personal loan interest rate. If you opt for a loan against your mutual fund units, then you would not have to sell your units hence your financial plan, and fund ownership remains intact.
Should you prepay your home loan or invest in mutual funds?
When we buy a home through home loan, we take into account our current financial situation and accordingly decide how much we can pay as the EMI amount. But over time as our income increases, the dilemma – to prepay your home loan or invest in a mutual fund – often crosses our mind.
Should you invest in equity mutual funds or not?
Although there is no guarantee of returns in case of mutual funds, in the long-term, equity mutual funds tend to provide a higher return as compared to the interest rate we pay on a home loan. Real gains should be calculated, only after you consider the tax benefits.
Can I prepay a part of my home loan on a bonus?
A bonus amount received from the employer might seem a good opportunity to prepay a part of your loan. This means the tenure of your home loan can come down by 2-3 years. But is it a feasible option?
Should I prepay a part of my equity loan?
If the return from investing in equity is higher than the return from the property you get after deducting the cost of maintenance and cost of interest and adding the rent (if any) from the property. A bonus amount received from the employer might seem a good opportunity to prepay a part of your loan.