Take a home Loan or not ?
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I was planning to self finance my home . Now I am offered a home construction loan for a fixed rate of 8.55% . I considered the option option of putting 25L that i have in excess into an fd which offers 9.5% . Still it doesnt make any big difference as far as my calculation goes.
PS : I have NRI status and i don't take any benifit in tax reductions/deductions on loan . Interest earned on FD is tax exempted
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https://www.desidime.com/discussions/take-a-home-loan-or-not?page=1#post_9930072
what's the downside in floating paji?
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Getting a loan for construction is suggestible.
This is help you is preserving principal amount you kept in FD.
Try negotiating interest rates with PSB's or NBFC's. Ideal interest rate would be 8-8.5 % in your case at fixed rate and don't fall for floating.