I'm 45 and have a surplus of ₹10 lakh. Should I start SIP or prepay home loan?
Opt for prepayment in case your monthly SIP contributions seem adequate and/or your risk appetite has reduced due to the stretched market valuations
I am 45 years old and I invest ₹40,000 per month in mutual funds through SIPs. I have an outstanding home loan of ₹40 lakh of 5 years old with 15 years of tenure left. It is costing me an interest rate of 8.5%. I have a surplus of ₹10 lakh and I am not sure whether to invest it in mutual funds through SIPs despite the stretched valuations or use it for prepaying the home loan to reduce my debt burden. Please suggest.