Trending @Accenture; Need suggestions for loan repayment. So i have calculated that i can pay extra 20k every month for my loan loan repayment along with the EMI

16mo ago

TwirlyQuokka

Accenture

16mo

Is it better to pay every month 20k extra or shoul i keep it in RD and pay annually once.. Please dont ask me to invest in SIP as I already have enough investment there, don't have any more risk appetite

JumpyMochi

Accenture

16mo

It all comes down to your loan interest rate and rd rate. Unless your RD rate is higher than your loans interest rate (which is rare) you may end up paying more in your loan interest than what you earn from RD. By paying 20k extra you could save on the interest and clear off the loan early.