Need A Financial Product Forums Loans Should I prepay my car loan with HDFC Bank

This topic contains 1 reply, has 2 voices, and was last updated by  Meena Jain 3 years, 4 months ago.

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  • #46823

    Meena Jain
    Member

    I have an outstanding car loan of Rs. 2, 50,000 with HDFC bank. At present, I have Rs. 1, 20,000 surplus amount in my savings account. What will you suggest ? should I use this amount to repay my car loan or should I invest this amount for my child’s education?

    #46824

    Suresh Tawde
    Member

    If you know any investment plan that will yield a return more than what you are paying towards your car loan, then it is advisable to invest your surplus money rather than prepaying your car loan. Explore your investment alternatives and then take a rational decision.

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