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I have #SBI car loan of 7.5 lakhs outstanding with tenure of 7 years, I completed 2 years now I am looking for prepaying car loan and reduce it to 2 lakhs. My queries are,
1. Is this allowed ? If yes is there any prepayment charges?
2. I want my prepayment to reduce the principal n reduce my EMI ? Is this possible?
3. Can I make prepayment online via SBI site or do I need to visit home branch where loan was availed? Or any SBI branch can accept the payment? Appreciate ur thoughts!
#Gold#Investment Investing in gold does not yield great returns and it is also as volatile as equity. However, till date, especially in families which have daughters, parents invest in gold jewellry. The equity and MF awareness is negligible in India. But is that the only reason for people investing in gold or can gold be assumed to be a safe haven in case equity markets are in a bear phase when the need arises to arrange for the jewellry during marriage. After all, gold market usually behaves inversely to equity. So can physical gold or gold ETF be considered as a good hedge against equity in case the equity market is in a bear phase when the need for gold jewellry arises. I have a daughter who will one day be of marriageable age and am wondering that although I am investing regularly in equity, would it be advisable to have some diversification into physical gold or gold ETF as I am not aware that how my equity investment will be. Would appreciate advice.Read More...
I had 2 sips running- regular growth plan. Stopped them, and started direct plans in the same funds. Now I want to gradually shift the regular plans to direct, in such a way that in each financial year, my capital gains are just below 1 lakh- to avoid paying taxes. Is that possible to do? If yes, how to calculate the exact amount to transfer each financial year?