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Person loan or withdrawal from gpf

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(Querist)
09 May 2024 As a government employee with an opening balance of 4,100,000 rupees in my GPF fund at an interest rate of 7.1%, I invest 20,000 rupees monthly. I'm considering taking a loan of 20 lakh rupees with an interest rate of 10.80% for 6 years. Should I take the loan or withdraw the same amount from my GPF fund? I'd appreciate suggestions from an expert.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
09 May 2024 Better option would be to withdraw the amount.
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Rahul Raj

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Rahul Raj (Querist)
09 May 2024 Thank you sir. Can I get the explanations if possible ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
09 May 2024 The loss on interest difference between loan amount and investment made any where will enlighten you about the option.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 September 2024 Good Luck.
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