Should I take a Home Loan or pay from own pocket?

Share
Share This Thread
  1. Lekshminarayanan

    Lekshminarayanan New Member

    Hi

    I am planning to buy an apartment which will be let out. I have necessary cash. Still is it advisable to take home loan? Will the tax break I get be so high as to offset the interest? I am eligible for only a 5-year loan.

    Thanks.
     
  2. Karan Batra

    Karan Batra Well-Known Member

    If you invest the amount in bank FD and earn interest - tax would be levied in that case as well and your net payout would be lesser as compared to the interest paid on Home Loan( after Tax benefit)

    Therefore, in the above mentioned scenario - it is better to pay from own pocket rather than taking a home loan
     
  3. Lekshminarayanan

    Lekshminarayanan New Member

    Thanks for the advice...
     
Draft saved Draft deleted
Loading...