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 Lee
      Gabriel Lee
      366 Answers, 560 Upvotes
      Answered on 09 Dec 2018

      As 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 Hwee
      Yong Kah Hwee
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      Top Contributor (Feb)

      528 Answers, 712 Upvotes
      Answered on 18 Oct 2018

      Unless 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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    Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    Top Contributor

    Top Contributor (Feb)

    398 Answers, 530 Upvotes
    18 Oct 2018

    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.

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