• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

Need advice on where to invest 8.75lakh for guaranteed high returns

Apply For Lifetime Free IDFC First Credit Card
thanix said:
Of course yes but even if you don't, now a days bank has to report and it comes in AIS 😉
Click to expand...
very stringent measures by govt to collect every paisa of income tax. But the irony is 80D still stands at 50k-75k whereas medical inflation increased more than 50% in the last few years.
They refunded the tds on 80D after I claimed expenditure for medical costs since i missed reporting to employer hence missing in my form 16, but they are yet to share the itr return statement approval yet, god knows what they are upto either send the notice or be done with it
 
Apply For LTF AU LIT Credit Card
Vickymaster1010 said:
How u got so low interest rate on personal loan?
Click to expand...
Its 11% reducing interest rate , and for different tenures the interest rate is different. All options arent shown to u on the app or online portal, connect with cc on call and they may have some hidden details or dsicounted schemes
 
Akio said:
Interesting.. Is there any formula to convert fixed rate to reducing rate?
Click to expand...
Reducing rate will be higher and the fixed rate will be always lower. We generally mean "flat interest rate" when we use the term interest rate. There is some formula yes but I too haven't gone into the depths of it to understand completely.
 
xywowowvw said:
I don't think they allow restructuring
Click to expand...
Mine was a reducing interest rate kinda loan only, and hence every month emi will be little different also interest amnt in every emi will decrease every month.
There is nothing like restructuring or choosing between flat and reducing rate.
When i said i took the loan at 7%, its basically means effectively it is at a flat interest rate of 7% , in total i paid to bank (principal + 7% on principal, by the end of 1 yr)
 
the_dark_knight said:
Mine was a reducing interest rate kinda loan, and hence every month emi will be little different also interest amnt will decrease every month.
When i said i took the loan at 7%, its bascially means effectively it is at a flat inetrest rate of 7% , in total i paid to bank (principal + 7% on principal, for 1 yr)
Click to expand...
Yeah thought so, amortization may be different. Anyway, check whether you can use Amazon Pay credit card itself heavily for friends and family to get 5% cashback to bridge the interest 😀
 
AritraSaha said:
Get a another dc.. open a another account..
Click to expand...
Yeah that is one route anyway.
But I was thinking guys here would have find some way to generate even 2% returns on cc bill payments considering one has to pay 75k regularly for 1 year.. like any debit card where one can get cashback 1% approx or more and in addition to that some milestone voucher rewards as well
 
Never ever invest in MF or Stocks with borrowed money. Doesn't matter even if it can offer 30% returns.
Moreover, you are not allowed to invest using loans. As the IT department now uses Big Data, they can track everything easily.

Also, remember, you have got a loan at 11% RRR and you are in 30% Tax Bracket.

Avoid P2P. Might look good now, if it gets focked, no one can get your money back.
Safest is Tax Saving FD in Senior citizen name or Treasury T-Bills.
 
MangoRush said:
Never ever invest in MF or Stocks with borrowed money. Doesn't matter even if it can offer 30% returns.
Moreover, you are not allowed to invest using loans. As the IT department now uses Big Data, they can track everything easily.

Also, remember, you have got a loan at 11% RRR and you are in 30% Tax Bracket.

Avoid P2P. Might look good now, if it gets focked, no one can get your money back.
Safest is Tax Saving FD in Senior citizen name or Treasury T-Bills.
Click to expand...
Moreover, you are not allowed to invest using loans --- can you site some official docs for this. Investment as in, are fd investments not allowed too?
 
You must log in or register to reply here.
Back
Top