Education and Career Forum

Hi,
I have taken Education Loan of Rs. 6,00,000. I am regularly paying its EMI. Still I have some excess money. Should I invest this money into the market or should I use this money to repay my Education Loan?

As you have taken a education loan of 6 lakh. Now It’s nice that you are regularly paying Equal Monthly Installment (EMI). EMI includes your principal amount as well as interest too.

**As you said that you have some amount. If you use this money in paying the education loan then following are the benefits for you:

--EMI amount will be reduced.

--Since you paid the principal amount so the interest is also reduced.

--you can also reduce your EMI tenure too.

**So it’s up to you. You can use money to repay the education loan or to invest in the Market to get the profit.

In hard times of financial crisis, the best friend of is the savings of an individual. There are so many ups and downs in our life, so it is better to save money for coming future.

If after paying the EMI of your education loan, you have money left then open an e-fixed deposit in the bank in which you have account like SBI, CBI, Syndicate etc. You can deposit the money in fixed deposit account by net banking and the bank will pay you interest on it.

The best thing is that you can close the fixed deposit account at any time and the deposited money will be automatically credited into your account within seconds.