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Mutual fund investments query

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(Querist)
30 May 2024 Query:
One of my client has taken a mortgage loan against his property of Rs 1 crore for purchasing other property so my question is as now after taking loan he has decided to not invest in property and he wants to invest in mutual fund.

So my query is can he do so
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
30 May 2024 Check any restriction imposed by bank for the utilization of the loan; otherwise no issue.
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Jaspal Singh

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Jaspal Singh (Expert)
30 May 2024 loan against property can be used for any purpose , home loans have restriction for specific home purchase.
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