ICICI Bank Home Safe Plus — A Review

When it comes to financial planning, everyone wants to leave behind an asset for their families. Nobody wants to leave behind a liability. And when it comes to your house, you want to ensure that your family inherits your house and not your home loan. Repayment of a home loan is a long term activity.… Continue Reading

Budget 2016 — Salient Points

The latest Union Budget is a mixed bag for many investors. Though the budget had many sops for the borrowers & middle class folks, there were a few setbacks too. Let’s look at ten most important takeaways from the latest budget. 1. Tax Relief for First Time Home Buyers First time home buyers have been… Continue Reading

Focus on Your Financial Goals While Planning for Taxes

As the financial year draws to a close, the hustle for tax-saving products grows stronger. The human resources department of your company is after you for proofs of tax-saving investments.  Last quarter of the financial year is anyways quite hectic. You are already under so much work pressure. Amidst that you need to find time… Continue Reading

Do You Have These Insurance Plans in Your Portfolio?

Why do we purchase insurance? Well, the answer is simple. You purchase insurance to guard against the impact of a particular event on your family’s finances. That event could be death, illness, disability or damage to expensive belongings. You don’t insure your pen or clothes but you insure your car.  Why? This is because loss… Continue Reading

Gold Loan — Unlocking Cash for Emergency Needs

Consider these two scenarios. You quit your job to start a business and need an instant loan. It is unlikely that you will get a quick loan from banks. There are many banks that offer personal loans instantly. However, this facility is available to customers with high income levels and good credit history. You just… Continue Reading

You Get Tax Relief Even If You Are Staying on Rent

Most of us are quite clear about the tax incentives associated with home loans. You get tax benefits up to Rs 1.5 lacs for principal repayment under Section 80C of the Income Tax Act. Additionally, you get deduction of up to Rs 2 lacs per financial year for interest payment on home loans. Must Read:… Continue Reading

How to Save Tax on Sale of a House

You made a killing recently on a house that you had purchased 15 years ago.  You had bought this house for Rs 7 lacs. Recently, you sold the same house for Rs 1.5 crores. Net absolute gain of Rs 1.43 crores. You are aware of the indexation benefit on sale of a long term capital… Continue Reading

SBI FlexiPay Home Loan Scheme

State Bank of India has recently come out with a home loan product, SBI FlexiPay Home Loan scheme.  As with all the SBI home loan products, it has created a lot of buzz among the prospective borrowers. In this post, I will discuss the important features of this scheme and what makes it different from… Continue Reading

Loan against PPF Account

You are looking for a small loan of Rs 1 lacs for purchasing new furniture for living room of your new house. The first thing that comes to mind is a personal loan. But you are aware that personal loans are quite expensive. The interest rates can vary from 14% to 18% p.a. or even… Continue Reading