Need A Financial Product Forums Trading/Investments How to use Rs. 1.84 lakhs of my old EPF

This topic contains 1 reply, has 2 voices, and was last updated by  Ajit Saran 2 years, 10 months ago.

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  • #48426

    Ajit Saran
    Member

    I have recently changed my job. My old EPF account shows a balance of Rs. 1.84 lakhs. With my current salary, I am able to save Rs. 20,000 to 25,000 monthly. Should I transfer this EPF to new EPF account or withdraw the amount of EPF and use it to repay personal loan (outstanding Rs. 1.5 lakhs) taken from GE Money?

    #48427

    Nishit Jain
    Member

    Since you are in job, ideally you cannot withdraw the amount. Though the process is time consuming, but I will suggest you to transfer it. As regards repayment of persona loan, you have good savings to be used here.

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