Person loan or withdrawal from gpf
This query is : Resolved
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.
09 May 2024
Better option would be to withdraw the amount.
09 May 2024
Thank you sir. Can I get the explanations if possible ?
09 May 2024
The loss on interest difference between loan amount and investment made any where will enlighten you about the option.
07 September 2024
Good Luck.
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