Sweet deal of Personal loan?
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I am getting a personal loan worth up to 8.35 lakh @ 10.5% interest. And the tenure can go up to 60 months.
This is how interest gets calculated:
As another example the guy from the bank told me for example if i take a loan worth 1 lakh for 1 year the total interest I will have to pay will be 6800 approx.
Now I am thinking of taking that loan, because of this I will be able to apply in SHNI category from multiple accounts.
Should I consider taking it? Can you suggest a way to invest this in a place which is safe and where liquidity is high so that my cost of borrowing becomes minimum.
Thanks in advance.
This is how interest gets calculated:
As another example the guy from the bank told me for example if i take a loan worth 1 lakh for 1 year the total interest I will have to pay will be 6800 approx.
Now I am thinking of taking that loan, because of this I will be able to apply in SHNI category from multiple accounts.
Should I consider taking it? Can you suggest a way to invest this in a place which is safe and where liquidity is high so that my cost of borrowing becomes minimum.
Thanks in advance.
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@harshitk3172247 - Which bank is giving you this interest at 10.5% and what's the processing fee?
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use FnO to recover the interest in 1 day.
NOTE: its very risky to take loan for investment purposes