Asked by Anonymous
I'm a graduating uni student that has a DBS student loan. May I know how can I find ways to grow my wealth i.e. how and where do i invest so that I can pay off the loan asap before getting a BTO flat?
I managed to save up a bit over my uni days however it is not sufficient for me to pay off the bank loan in one lump sum.
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Gabriel LeeTop Contributor (Dec)
366 Answers, 558 UpvotesAnswered on 09 Dec 2018As always, all investments carry risks and the returns are not guaranteed as compared to your study loan's interest. Therefore, you should try to clear off your loan asap before beginning investing and only invest with money that you can afford to lose.
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Yong Kah HweeTop Contributor (Dec)
423 Answers, 580 UpvotesAnswered on 18 Oct 2018Unless you can be sure that your investments can yield more than the 4.75 loan interest, I would suggest you just pay off the loan first, then think about investing!
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I would prefer paying finish the loan first. Because the loan interest is guaranteed. Investments that are guaranteed pays like 2%-3% interest which i dun think is more that your student loan interest. Investments that have more interest than your student loan are not guaranteed. So my opinion is to finish paying the loan first and then start investing. Be frugal and pay finish debt as fast as you can so that it wont get more expensive.
