I am servicing my education loan repayment with Rs 15,000 EMI and am left with Rs 5,000 a month which I wish to invest. Please suggest where I should invest.
Raghav Goswami, Bhopal
You should try and repay your education loan as early as possible to reduce your exposure to loans. Next, set a financial goal before blindly investing in mutual funds for them to work well for you to help you realise a financial outcome with the investment. If you have short-term goals of about 1-3 years, invest in debt funds. However, if the goals are about 3 -5 years away, you should invest in balanced and multi-cap funds through the SIP route. You could invest in a fund like ICICI Prudential Balanced Advantage Fund to start with.
