Smart Way to Buy a Car! 🚗💡
Most individuals assume taking a automobile mortgage means paying further curiosity to the financial institution. But what if I informed you {that a} mortgage might really make you cash? 🤯
Here’s how:
✅ Instead of paying ₹25 lakh upfront, take a ₹20 lakh automobile mortgage at 9% for five years → You pay ₹24.9 lakh to the financial institution.
✅ Invest the identical ₹20 lakh in an FD at 8% for five years → It grows to ₹30 lakh!
✅ Net revenue = ₹5 lakh! 🎉
This works as a result of mortgage curiosity is calculated on a lowering steadiness, whereas FD curiosity compounds on an rising steadiness—so your FD grows quicker than your mortgage compensation!
💰 Moral of the story: Don’t simply spend cash, make it be just right for you!
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