What to do with extra money from loan?
My family is taking out a 7M home loan. 5.5M lang talaga yung kailangan pero hindi na maadjust yung amount downwards kasi otherwise start from scratch daw yung process ng bank, eh kailangan na yung pera. What's the best way to go about handling the excess? May chance na may paggagamitan kami if magpaparenovate kami ng bahay at magpapainstall ng solar, pero that could still be a year from now, at sayang naman yung interest kung nakatengga lang sa bank yung pera.
If we prepay the full amount agad, naisip ko, it's as if 5.5M lang niloan namin pero lugi kami sa processing fees kasi ang basis is 7M.
Is there a way to safely invest the money to offset or at least make worth it the processing fees and interest we will be paying on the 1.5M na hindi naman namin kailangan urgently, in such a way that we can take out the money easily once we are in a position to use it?
Gusto ko sana iinvest sa PAGIBIG MP2 kaso gagawa pa ng bagong account so five years pa yun makukuha. Medyo ayaw namin magdigital banks even though mataas interest but open to advice on this. Government bonds, maybe? Saan kaya pwede?
