CHEQUE BOOK

HT Estates - - HTESTATES - Harsh Roongta

I am the only earn­ing mem­ber in my fam­ily. I had taken a home loan of ₹ 30 lakh for 20 years in Novem­ber 2011 with a fixed in­ter­est rate of 10.75% for three years. Which is a bet­ter choice - part pre­pay­ment of ₹ 2 lakh for the home loan or in­vest­ing the same amount in the eq­ui­ties mar­ket, mu­tual funds or fixed de­posit? —Sharda P First make sure that you have enough money set aside to meet emer­gen­cies such as a job loss, etc. (typ­i­cally three to six months of ex­penses such as EMI and in­sur­ance pre­mium). Next pay off the more ex­pen­sive loans (if any) such as credit cards, per­sonal loans, etc even if that in­volves pre­pay­ment charges.

Only if you still have a sur-

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