I’m planning to buy an apartment for my parents in India. I have some cash saved. But confused if I should opt for a home loan or use the money already in some fixed deposits. I heard about tax benefits for loan repayments, but as we aren’t under that category, what should an NRI consider? Are there interest differences for NRIs? Could someone please give me some insights? TIA

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Jancy Pinto 2022-09-09T13:29:26+02:00 2 Answers 191 views
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Answers ( 2 )

  1. Ruksana Hussain
    0
    2022-09-14T08:13:51+02:00
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    If you have earned enough for life then buy it in cash. Else you can buy some good assets like index funds. You’ll easily get a 15% return there. And let that return pay your EMIs. Because you’ll get home loans for 7-8% interest max. Try these calculations a few times to understand them better.

  2. Kemmy Seema
    0
    2022-11-28T10:24:28+01:00
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    You staying in Netherlands? What’s your plan for India? (Want to stay long in NL or India) if not staying in India take Cash and use it …. why to pay interest… if you plan to go back to India, take loan. once you go to India invest remaining cash for Property or you can do vice a versa … if you have Euro then it is not good time to convert euro to INR.

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