Best Way To Pay Off Home Loan
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- Опубликовано: 19 окт 2024
- Most people fall into a debt trap unassumingly. 😞
They do not realize how EMIs are piling one after the other and only know they are trapped when they start missing payments ❌
Fortunately, you can escape a debt trap even if you do not have the income to make the EMIs. 🤩
One way would be to withdraw your PF to repay your home loan 🏡 You can withdraw up to 90% of your PF for home loan repayment.
Once you’ve made your home loan payment, you can concentrate on paying off other high-interest debt like credit card loans and personal loans. 💳
You can also use your PF corpus to make the downpayment for your home loan.
⚠️ But it is important to note that your PF is essentially your retirement fund and any withdrawal you make should be replaced so you can achieve your retirement goals.
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#financewithsharan #homeloan #pf #creditcard
one more thing. During bankruptcy proceedings, no creditor can touch your PF account.
creditor? even the courts don't have the power to touch pfs
@@Omega-dj9sheven prime minister😂
@@prasadmankar7650prime minister is not above court
even president
Even mia khalifa
Michael - I declare bankruptcy!
Oscar- you declaring bankruptcy not gonna change anything!
Oscar-Saying you are going bankrupt doesn't change anything.
Micahel - i didn't said it, I declared it.😂
"You can't just say the word bankruptcy and expect anything to happen"
"I didn't say it, I declared it"
"Still.. it is not... Anything" 😂😂😂
this guy is getting info from the movies and the internet his too dumb to get it ! priceless
Haha that's exactly what happens in the office 😅😅 /s
Areey haan bhai haan “thats what she said”😂
Employee - I follow my real boss 'finance with sharan'
Boss - you are fired🗿
fr
Yeah@@dragoonxgamer
Literally what I thought 😂😂
And during retirement you can keep following your man and sleep on footpath 😂😂
😂😂😂
The person who promotes staying on rent rather than buying own house can think only this much
Then u should know how to prioritise how, when and how much to spend with ur bandwidth
@@ajaysurve_21 exactly that doesn't mean that u dont take ur own house. I remember people during covid have morgatage thier houses to fullfill medical expenses.if one would have stayed on rent then ?
@@kunalshah2331 dude then take loan on your company/bussiness in early 20s we should invest on building a bussiness rather than buying a house
"That's what she said" 🤣
What's that I don't know
Sharan scott from Funder Mifflin 😅😂😂😂
No matter what topic you are talking about, you are a principle
Sharan's family pic is as epic as his financial advice❤😂
His "I declare bankruptcy' was like Mahendra Baahubaliiiiii!!!!😂😂
No it was Michael Scott from The Office
Nah it was michel Scott from the office US
No bruh it was Michael Scott from the office
The management is the real key in this
This is quite basic economics 🎉
Instead of paying for a Home loan, we pay a car loan and personal loan Because a PL costs you 16 to 21 percent interest and CL 9 to 11 percent interest per annum were as a home loan cost 7 to 9 percent. 😊
prioritize more "dear" assets that you can pay off, let the bank take back their car and decrease your credit score for defaulting on personal loan, but dont let them take away your home, if it comes to worst sell your home at your own terms before the bank puts it up for auction. because what they do, say your home worth 80 lks, loan amount is 80% is 64 lks, you have paid off 20 lks in principle and left with 54 lks ... banks will auction such that (they tip off some relative) who gonna buy it for dirt cheap either 54lks or even less, bank prioritizes recouping the loan amount first, if there is still balance they might write it off, but you wont get anything. better yourself sell it for a loss of even 70lks you will have some little money at least for yourself
I think in the finance point of view but your think in the emotion and bond of home. I agree your point and I like it
@@Gokullokesh yes emotion and bond of home maybe true too, but home loan has a higher value collateral that you must protect, while car is a depreciating asset, Home is not a depreciating asset, rather it can even earn you income (lets say you lease a part of the home or even fully, eg rent for 20k and use 10k to yourself stay in a lower value rent home - or rent first floor of your home and you shift your family members to ground floor even if its congested little) - which is why home becomes an important asset to protect first esp when it comes to the worse of worse you dont let go of home easily because if one lets go of home easily and lets say he/she lost job cant pay rent, then they will come down to the streets. unlike car, home is a living essential, you can use bus service if you dont have car easy to deal with, but imagine no home, no money to pay rent, and full family members to take care of, the person would have to count on a relative who can help him if there is absolutely no other property to survive, basically looking at the streets!... and the personal loan nobody can force you to pay it if you can prove that its not a willful default. Its just a civil case, but only becomes criminal if we do a willful default. One can also ask for personal loan restructure if he/she think thats possible
PF does not pay for Car Loan and other Loans, but only for Home Loan😊
@@Motivational-lf8zqthey are not assets since all of them are not used to make money out of it
It is important to repay the loan with the highest interest rate. Housing loan has lowest interest compared to all other loans
No of years is more. Calculate what u are paying on 3L PL for 3 yrs vs 3L on HL for 20yrs.
Main difference is PF only supports home loan.Not others
I want to meet those people who have 10 lakhs in PF acc and a combined EMI of 50k for home / car and finance.
I have 6 lks in ppf, and home loan emi 34k no other loans
@OorsuttriTNdid you withdraw your PF and repaid the loan?
That's what she said.. 😊
Employee : I follow my real boss
Sharan: Ghaddari Korbe 💀
Thanks for making this
Itni quality improve kr li .. gazab 👌👌🌟
Same man said to pay off personal loan first as it has higher interest rates than home loan.
You See why i don't trust internet
If you can have the PF amount, It's better to deal with all the other loans than the home loan. Because, home loans are the cheapest and also one can claim taxation benefit from repaying home loan.
Well pf can be withdrawn only in case of home loans or health reasons.Not possible to pay off other loans with it.
@@sivag2032where shall I got the information about withdraw PF details to repay the loan
Ooh, Michael Hegde 😮
Home loan is an exceptional
😂😂you should have put #theoffice also, loved the office references 😂😂
Thank you Sharan i got an idea from this clip.
Love your content❤
Employee:- I follow my real boss, Finance with sharan!
Boss:- Nimmoun!😐👍
Bro I love your content ❤❤❤🎉🎉🎉
Hey please suggest any investment plan for disabled person
25 din me paisa double scheme hai...interested??
@@inningsfantasyfables okay 😂
Better to foreclose personal loan as amount will be easy to reduce or foreclose. Even interest rate also will be high
I am studying Business Studies in college but Sharan definitely knows more always. 😂😂😂
The subtle parody dialogues to the office is awesome
Subscribed just because of the Michael Scott reference
Promoted to assistant to the regional manager.
😂😂😂 i declare bankruptcy sounded funny
Fun track with sharan😅
But i suggest to pay Car and personal loan firsy if possible to pay it from PF
Because Car and personal have more interest rate..
And you will not able save taxes
That's what she said
It should have been assistant 'to the" Regional Manager
how to withdraw 90% from PF. which option i need to select in that claim type
What if your pf amount is less than remaining principal.. Emi will keep going regularly
Assistant to the regional manager 😂
Assistant to the manager 😂😂
Hi sharan…thanks for educating us by the finance related videos…you have mentioned that we can draw 90% of the PF amount….my doubt is can I draw the amount from NPS for the same reason
Pay from PF and then sell the house during retirement 😂😂
Lmao the beginning was gold
That's what she said 🤣😂😅
Wish the other guy was Dwight. But the first guy is no Michael Scott either.
Paying a housing loan is so rediculus when you have a tax benefit and you are now compromising your retirement corpus as well 😮
Epic "That's what she said"
His family photo😂😂😂
The way he's holding the kid in picture 😂
Max I can give is 'Assistant TO the regional manager'
Im shure you get fined for paying back a loan early so let me cook here bro, if you pay back your loans faster you will need to pay a fee for early payment this is because the bank wants to profit off the intrest but if you pay back early they womt get as much money cause you paid fast so therfore you get sent a fee so they still make a decent profit this goes for any loan
And for people who want more here some more when you declare backruptcy yuor credit will be at 0 for 10 years so avoid it at any cost
"Assistant to the Manager" 😅
The office 😂😂
What about that PF overdraft it also contains intrest??
That what she said😂😂😂
Bhaiya aapki information to bahut acchi hai lekin ek baat hai ki
Aapki sari videos English mein hoti aur jyadatar Indians jinhe finance ke bare mein kuchh khas pata nahi hai aur jinke liye aap yah videos banate ho unko English samajh nahi aati hongi
To bus itni request hai ki HINDI mein videos banaya kijiye 😊😊
that must be really hard shef
THATS WHAT SHE SAID!!!
😂😂😂😂
What about prepayment charges?
Who was the first Indian person to get a home loan .
After paying the home loan you can take a hl top up, reduce interest outgo and refinance your personal and car loan with a longer term loan
how to get a personal advisor on finance??
Thats what she said😂
Lets call California, Jan & David. They will fix it
Assistant "to the" regional manager
Or withdraw from pf , pay major chunk towards home loan , then sell car , pay car loan and with rest of money do settlement in personal loan after ab u sing reco very agents and citing loss of income .
Michael Scott Parady
Thats what she said 😅
That "that's what she said" was mad funny 💀
You can see him breaking character in that line 😂
Isn't this 90% withdrawal allowed only 1 year before retirement? Also according to EPFO, isn't only 75% of the net balance of EPF is allowed to withdraw??
Office reference
commenting only because of THE OFFICE flare here
and Michael
"that must be really hard sharan"
"That's what she said"💀
Bro .I like ur Dialogue Deliverrrrrrrrrrrrrry. You r awesome .LOL
Withdrawing PF will attract tax & u can take that into consideration
Sharan bhai ka hard hain....
Get another top up on the home loan after paying some amount of it then when the money is in your bank pay off the other loans with it
But after taking loan from PF. You want to pay emi for that one also right. That you didn’t mention😂.
Hi can you please help in negotiating for purchaseing a property (not through auction) which is taken over by Bank due to emi failure of the original owner.
Can anyone explain what os PF ?
It will be a horror , if my boss shouted ""BANKRUPTCY"
He has bought Rolls Royce 😂😂
That's what she said 🤣🤣
Michael Scott 😂😂😂
"Tobeshwar works here again"
"NOOO GOD. No god please no. No. No. NOOOOOOOOO-
That's what she said and made u buy that fancy house and the luxury car which u did not need
That’s what she said😂
Thats what she said 😂😂😂😂😂
❤
Will it be good Sharan to break PF..
Declared as insolvent / bankrupt is as good as a living dead body
That's what she said 😂😂😂
Assistant to the regional manager
Promotion when company itself bankruptcy 😂
Promotion wow bruhh congrats...🤣🤣😂😂👍👍
"That's what she said"💀
I am not from India. What is a PF?
The office 😂😂😂 Indian michael scott