hi i have home loan of 1.38cr balance tenure is 144 months rate of interest is 9.75
and top up loan is 45 lacs balance tenure 170 months rate of interest is 10.25
there is one main borrower and two co borrower,loan was taken for self construction on land owned by main borrower,construction is completed now.
..home loan emi is 1,58,404 will complete one year in nov 2016
top up loan emi is 49,048 and will complete one yr tenure in december 2016
my query is
i am self employed,have no other loans.
i have extra funds of 5 lacs
should i prepay my top up loan or home loan,if so should i reduce the emi or reduce the tenure?
or should i invest the funds in my 3 family members ppf accounts
or should i invest in business where i can generate a return of 20 percent in less than a year?
CAclubindia
