401K loan

[MDharmarajuMA]

limitation enti?

 

entha % varaku 401k nundi loan teesukovachu. Can we take all 100% funds from 401k as loan.

and entha interest rat euntundhi for the 401K loan?

 

can 401k money can be taken out for any kind of loans (automotive,mortgage, personal loan)

 

throw some light experts. 

[LadiesTailor]

5 minutes ago, MDharmarajuMA said:

limitation enti?

 

entha % varaku 401k nundi loan teesukovachu. Can we take all 100% funds from 401k as loan.

and entha interest rat euntundhi for the 401K loan?

 

can 401k money can be taken out for any kind of loans (automotive,mortgage, personal loan)

 

throw some light experts. 

You can take up to 50% of your 401k loan no questions asked and pay back monthly... whatever the interest you are paying to the loan adds up to your investment at the end...

[MDharmarajuMA]

1 minute ago, LadiesTailor said:

You can take up to 50% of your 401k loan no questions asked and pay back monthly... whatever the interest you are paying to the loan adds up to your investment at the end...

nice. usually entha interest rate untundhi for 401K number any ball park numbers?

[LadiesTailor]

Just now, MDharmarajuMA said:

nice. usually entha interest rate untundhi for 401K number any ball park numbers?

Mine was around 4.5% baaa 

[MDharmarajuMA]

Just now, LadiesTailor said:

Mine was around 4.5% baaa 

wow adhi chala ekkuva bro.. nenu inka edho .99 intetest anukunna.

[LadiesTailor]

Just now, MDharmarajuMA said:

wow adhi chala ekkuva bro.. nenu inka edho .99 intetest anukunna.

Yeah but aa interest antha nee account balance ki add avvuddi.. you are not paying anyone.. you are paying interest to yourself and reinvest after paid off everything 

[LadiesTailor]

2 minutes ago, MDharmarajuMA said:

wow adhi chala ekkuva bro.. nenu inka edho .99 intetest anukunna.

Plus they keep high interest rate to discourage taking loans from 401k... 

[dasari4kntr]

after taking loan...in case if you are changing job..you need to pay it full in certain time...

[chandrabhai7]

I guess 50% or max 50K

 

it also depends on company policy what they want to give loan as

[idibezwada]

2 hours ago, LadiesTailor said:

Mine was around 4.5% baaa 

ditto

[csrcsr]

Also keep in mind the loaan you will be taking will be out of market (obviousbro but just telling) nuvu loan unna antha sepu ee money market lo undadu

[Jumper]

Loan A 20k undi at 6.9%

401K nunchi 20K tiskuni Loan A ki kattesthe then interest amount kuda manu undi pothadi. 

so we can save from being charged high interest and low interest ki 401k loan tiskunte ah low interest kuda 401k loki add avuthadi. only thing is ah money market lo undadu.

correct me experts 

[ElIen]

4 hours ago, LadiesTailor said:

Yeah but aa interest antha nee account balance ki add avvuddi.. you are not paying anyone.. you are paying interest to yourself and reinvest after paid off everything 

How to take loan ?

[LadiesTailor]

29 minutes ago, ElIen said:

How to take loan ?

Call your 401k provider or login to their website... it takes two to five minutes 

[LadiesTailor]

38 minutes ago, Jumper said:

Loan A 20k undi at 6.9%

401K nunchi 20K tiskuni Loan A ki kattesthe then interest amount kuda manu undi pothadi. 

so we can save from being charged high interest and low interest ki 401k loan tiskunte ah low interest kuda 401k loki add avuthadi. only thing is ah money market lo undadu.

correct me experts 

Correct...