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Interest free home loan investing in mutual fund sip trick…

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INTEREST FREE HOME LOAN TRICK
This is the calculation you need to keep in mind. For instance, you took a home loan of 48 lakh for 25 years tenure. Considering home loan interest at 8.5%, the total amount payable to bank is Rs 11,595,270 at the end of 25 years.
Now, as per the calculation the interest amount is Rs 68 LAKHS
Now, suppose you start a SIP for the same tenure as your home loan which was for 25 years. If you invest just Rs 2096, which 0.043% of your home loan amount, for 25 years, the principal amount comes to Rs 6.28 lakh (300*2096).
If the return generated by SIP mutual funds is 15%, so after 25 years you will get back Rs 68 LAKHS. Even if you deduct your SIP money invested which was Rs 6.28 lakh from the amount earned, then you will get 68.20 LAKHS. This amount is nearly 20,000 more than that your interest on home loan amount, WHICH IS 6800000
Which means, you can easliy pay your home loan interest amount by returns from SIPs. So, while you are running for getting home loans, do not forget to invest in SIPs to make interest on home loans for free.

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