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Normally people are taking loan for 20/25 yrs depending upon eligibility and availability but if somebody wants to take a loan for 10 yrs or 15 yrs then he/she should take a loan for 20/25 yrs and the difference between emi of 10 yrs and 15 yrs and 20 yrs should be invested in equity mf via systematic investment plan.
Details | 25 YRS | 20 YRS | 15 YRS | 10 YRS |
---|---|---|---|---|
EMI | RS.8154/=PM | RS.8773/=PM | RS.9936 /=PM | RS.12479/=PM |
The Difference Between the EMI of 25 yrs and 10yrs = rs. 4325/=PM
The Difference Between the EMI of 25 yrs and 15yrs = rs. 1782/=PM
The Difference Between the EMI of 25 yrs and 20yrs = rs. 619/=PM
The calculation of difference invested in sip then what will be the figure after stipulated time period are as follows (we assume that person has taken the loan of 25 yrs)Details | 10 YRS | 15 YRS | 20 YRS |
---|---|---|---|
EMI | 8154 | 8154 | 8154 |
SIP | 4325 | 1782 | 619 |
Total Amount Payable | 12479 | 9936 | 8773 |
Assume Maturity Value of SIP at 12% PA | 1004867 | 899154 | 618473 |
Loan Outstanding | 820653 | 653391 | 396022 |
After Certain Period but EMI of 25yrs | |||
Final Cash Balance | 184214 | 245763 | 222452 |
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