Buy a flat worth 60 lakhs without taking home loan, do SIP of this thousand

Most people fulfill their dream of building their own home by taking a home loan. In return they pay huge interest to the bank.

If a person takes a home loan of Rs 60 lakh, he pays the same amount of interest in about 20 years.

If you plan after getting a job then there is no need to take a home loan.

If a youth starts a job at the age of 25, at the age of 35 he can buy a house without taking a loan. However, this will require disciplined investment.

This work is possible through SIP. If a young man does a monthly SIP of Rs 15 thousand, after 10 years he will easily build up a fund of Rs 59,36,129.

However, this will require increasing the SIP amount by 10% every year along with the salary increase. That is step-up-sip.

If a person starts a SIP with Rs 15000 and does the SIP for 10 years and earns 15% annual return on investment, he will easily save around Rs 60 lakhs.

Small cap and mid cap mutual funds can easily return up to 15% over the long term.

It is possible that this return is 25% to 40%. In such a situation, a large amount will be deposited.