Blog about Financial Education, Advisory & Planning
Markets bounced back sharply over the last month by over 10% to 17900 NIFTY levels. Lower 10 year g-sec rates & inflation globally have eased nerves to some extent. Given the lower inflation print we expect rate hikes to slow down over next 3 months. Prices of crude among other metals & mining commodities declined …
RBI raised repo rate by 50 bps to 4.90% in the June RBI Policy. Thus repo rate has been increased by 90 bps in the last one month. MPC vote was unanimous and has decided to keep stance withdrawal from accommodative. MSF Rate & Bank rate has been increased to 5.15% from 4.65%. Inflation is …
Should you buy properties at an e-auction? Here’s a checklist on what homebuyers should keep in mind before bidding for such properties from banks. Banks auction such properties in a final attempt to recover whatever value is outstanding to them. Most of the properties that are being auctioned are owned by borrowers against whom the …
The burning topic today in India is about bank NPAs, NPA recovery especially from businessmen who have defrauded the banking system of crores of rupees & fled the country. As we complete 10 years of the Lehman Crisis, it seems we have not learnt any lessons from it though we must ensure that such a …
I had purchased a property with a home loan sometime back. Currently I need some additional funds for additional expenses on the property. I have decided to take a top up home loan on my existing home loan. Top up home loans clearly outscore other loan options because they come with lower rates of interest …
A loan guarantor is someone who is legally liable to pay off the loan, in case the primary applicant is unable to do so. In addition, being a guarantor will not only make you liable to pay off the loan in case of a default, but your own borrowing capacity would reduce and your credit …
As a smart borrower make sure you are taking the loan for the right reasons. Don’t borrow just because the interest rate is attractive or you can claim tax benefits. Here are a few basic rules to keep in mind: Take on an EMI only if you can afford it: A smart borrower will never …
Owning your own house is every man’s dream. It is a necessity & nothing beats it if you can also save some taxes in the process. Buyers can claim income tax deduction on both the principal repayment & the interest payment under different sections of the IT Act. Tax Deduction on home loan Interest: (Section …
The Employees’ Provident Fund Organization (EPFO) recently relaxed its norms to allow subscribers to withdraw up to 90% of the total accumulated corpus for purchase of a home. But we must remember that EPF is long-term savings for retirement and it is not advisable to dig into the retirement funds unless and until there is …
EPF withdrawal for home purchase – Avoid if possible Read More »
If you are planning to take a loan to purchase a house, a car or a high-priced consumer good one of the first things you should do is to check your credit score to know the chances of a loan being sanctioned or rejected by the lender. Credit score reflects one’s creditworthiness which depends on …
Unable to get a loan? Improve your credit score… Read More »