If you do not want to take the burden of home loan EMI, then you can plan your monthly plan of 15,000 rupees. Through this plan you will buy your flat without a home loan. For this, you have to invest 15,000 rupees for 10 years every month in Systematic Investment Plan SIP. In this way, you can avoid repaying Monthly EMI of home loan for up to 20 years and paying millions of rupees as interest.
Where to Invest: In 10 years, a fund of Rs 42 lakh will be made if you invest in 15,000 rupees equity mutual funds every month for 10 years and if you get a return of 15 per cent annually on your investment, after 10 years your total fund is about Rs 42 lakhs. At present, the cost of one bedroom flat in metro cities is between Rs 20 lakh and Rs 30 lakh lakh. In some areas, two bedroom flats are also available for 35 lakh rupees.
Monthly investment Rs. 15000
Estimated Returns 15%
Investment period 10 years
Total fund 42 lakhs