To summarise, you are doing a mistake by taking this loan. You will most likely be at a loss. Try to foreclose, ask experts here (@xywowowvw and others) if they can help with foreclosure.
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Need advice on where to invest 8.75lakh for guaranteed high returns
- Thread starter DaDarkkNight
- Start date
Tsunami
TF Neo
You can try BetterInvest [https://www.betterinvest.club/] It is a very safe platform and giving returns as high as 18% (much more than any FD, Mutual Funds, or P2P) via Revenue-based financing opportunities in movies. Most of their investments are into OTT platforms like Netflix, Prime Videos, etc. hence, there is no chance for default. Personally using it for long and have made multiple investments.
Use my referral code NKSBFN for an additional Rs. 2000 as bonus on your 1st successful investment.
Use my referral code NKSBFN for an additional Rs. 2000 as bonus on your 1st successful investment.
i am 20
so my ITR since the past 2 years has been around 4-5 lakhs all of which has come from capital gains from the markets
if the movie is a flop show
then producers or platforms wont have money to give
he will face a 3-5% forclosure charge depending upon the tncs agreed as it is a fixed intrest rate not a floating rate one
dont consider the tax component on income earned here as he said he would invest in his mothers name whose itr would be less than 5 lakhs
then i guess he can claim the interest paid as deduction
Simple. You are assuming that you will have 8.75 lakhs for a full year to invest in FD. You don't. Every month you havebto pay 78k from that amount or from your own funds to the bank. Now calculate the interest lost on this amount. Simply go to amy recurring deposit calculator amd see the amount you would have gained in a year and you would find the answer.
Tsunami
TF Neo
No, returns are not linked to the performance of the movie, since its Financing not to the Movie producers, but to the OTT platforms and return is linked to release of the film on the platform. So, whether or not the movie flops, once the movie is released, its due for return. Hence, it is much safer than most other Invoice discounting platforms.
Read the FAQs on the website for more details.
Read the FAQs on the website for more details.
Why I would need experts like you for help in foreclosing?
If you are claiming I am making loss, give proper explaination with your calculations. And consider fd at 9% interest for time being.
Give me exact absolute amount of loss, also add 18k (as cashback on loan bill payment) to the returns
And leave out taxes to me, it's beyond your grasp now...don't include taxes anywhere.
And never consider others to be in same boat as you are before advicing for foreclose, they may have various other plans and factors playing...
you cant consider fd at 9% because you would need to wtihdraw emi amount every month which would reduced your returns
Don't consider I have to break fd everytime I need to pay emi, consider it the opportunity loss of every 77k that I will pay from my savings which could have been invested in fd or anything (but max consider 9% return here)
that is not practically possible thats where you lose money in absolute terms
the investment instrument should be something where you dont lose money in absolute terms or oppurtunity cost
if you pay from your savings your return on investment would go drastically lower than what it is currently
thats why it is viable to foreclose the loan
the investment instrument should be something where you dont lose money in absolute terms or oppurtunity cost
if you pay from your savings your return on investment would go drastically lower than what it is currently
thats why it is viable to foreclose the loan
Thanks for this suggestion. Can you suggest some good invoice discounting platforms which you have tried and genrated returns with?
THIS is the reason why i said p2p lending would be viable as you dont have any lock in with it and you can make this a arbitrage oppurtunity
Don't think I am paying emi from an already invested savings.. rather every month when I had to pay 77k emi, I got the money credited immediately same time only
So opportunity cost is like 77k invested in fd for 11 months, then 10 months, and so on......
Your suggestion on P2P lending is duty noted.
Lets end this loss discussions and only keep it to the different investment types
ITS YOUR choice
but look for an investment oppurtunity in a no lock in instrument where you dont lose oppurtunity cost
need not be p2p
can look for invoice discounting,asset leasing
direct stock trading according to your appetite
but look for an investment oppurtunity in a no lock in instrument where you dont lose oppurtunity cost
need not be p2p
can look for invoice discounting,asset leasing
direct stock trading according to your appetite
You would lose 41,000 on interest from that 77k if you had placed it in a recurring deposit. You are just blindly trying to justify your action as you have taken the loan. The toal interest paid, processing fee etc and this 41k added together will be more than what you can make on your FD. Just calculate it yourself.
Even I have taken a jumbo loan from HDFC on my credit card just in the hope of getting a limit increase. I have invested it in a 8.5% FD but I am well aware that I will be losing around 17k on this.
finally someone who can make him understand
bhai crypto me daal de 😆