doubt in finance lease and interest
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hi, I heard for 20 Lakhs if we give for lease to a known person for 5 years, we will get 35k interest per month.
but if we don’t know any trusted person, then it’s not possible and risky.
So do any banks give us this much interest per month ?!
say the year to invest this amount is 1 year 5 months.
if so what’s that scheme called as ?!
(fixed deposit, recurring deposit, etc?) which gives maximum interest.
or in online it’s not possible ? only with public it’s possible
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and that to only in selected facilities..
Popular banks will not give u more than 8.5%
If u are getting that much of interest or atleast being promised of being paid..
be sure not to be scammed
Hmm yes after calculating using compound interest formula.
For 1 year 20L will yield
1) only ~15k per month on interest given by most banks 7%.
2) or 35k per month at a rate of 19%, if given for lease to common public through finance business.
No banks give 19% interest. But Mutual funds give 19% around, but depends upon market risks and the fund we choose….. So risky.
So, only option left is giving in local finance.
@chowdhuryparthoroy355
can u please elaborate the term “local finance”?
Current running rate of interest, between two persons, is 24% to 30% with real estate mortgage guarantee . Low budget movie producers borrow at around 36% with blank bank cheques guaranty.
Banks offer around 8%. Mutual funds offer more but you may loose principal amount too. Invest in real estate plots or wet lands, you may get at least 24%.
P2P lending interest is 18%24% excluding other service charges.
Most of the real estate builders borrow at 24%. Thats why the concept of pre-EMI came into picture. With pre-EMI, builder gets the money for 10% interest from the unit purchaser.
Bottom line, the more the interest rate, the more risk of loosing the principal amount.
Split the amount in 4 parts
5L – Invest in balanced funds, they have been giving around 12%
5L – liquid funds
5L – get a fd in name of any senior citizen in your family, shld give 10% in small/corporate banks
5L – small cap/mid cap fund they have corrected almost 30% in last year
This advice is keeping safety of your capital in mind, you can opt for much riskier options like local finance, however you need to have muscle power to collect loans incase of defaults
Nice bro…
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bro that’s 21% interest paid monthly..
there is no one that will give u that much of interest.
In FD/RD u will get max 10% interest.
that’s around 16500 p.m.