Death in the family brings not just emotional trauma but can also bring financial agony to the family. If the deceased was the primary breadwinner, the family can struggle financially unless the deceased had bought adequate life insurance coverage. If the deceased had taken a home loan, the loan needs to be repaid too. Since… Continue Reading
Home loan interest rates have been moving down over the last couple of years. At some point in time, the interest rates will bottom out. Some of us may feel that the interest rates have already bottomed out. In that case, if you are planning to take a home loan, is it a good idea to… Continue Reading
The events of the past 12 months and scary experience of many patients and their family members has highlighted the importance of adequate health insurance and a robust emergency fund. Many have lost jobs or received a salary cut. A robust emergency can be helpful in such cases. Not only that, but it can be… Continue Reading
Covid-19 infections are on the rise again. Many of us are under great stress for various reasons. A series of “What ifs” constantly overwhelm our minds. During such times, it is easy to appreciate the importance of adequate insurance in our portfolios. An insurance plan helps you ringfence your finances from potential shocks. In fact,… Continue Reading
Home loan is a long term financial commitment. At the time of borrowing, your income may not be sufficient to service the bigger EMI or you may have other obligations and debts like car loan or personal loan. But once you are done with all other loans or when your income increases, you may be… Continue Reading
“I have never borrowed in my life. Hence, my credit score must be perfect. And the banks would line up to lend to me.” Quite the contrary. Firstly, no borrowing means no credit history. In absence of credit history, the banks will be in dark about your credit behaviour. They may not be comfortable lending… Continue Reading
Your bank calls you and offers to increase your credit card limit or upgrade you to a premium card. I am sure many of you have experienced this situation. A happy situation to be in. Usually, it is good to have a choice. Should you accept such an offer? Well, there is no black and… Continue Reading
The tax-saving season is round the corner. Are you still running around to finalize tax-saving investments? Well, there are so many ways to save tax. There is PPF, EPF, NPS, ELSS, LIC policies, ULIPs, 5-year FDs, life and health insurance plans, pension plans and many more. In this post, I do not intend to discuss… Continue Reading
You have taken a personal loan an year ago. Interest rates have moved down since and you can get a personal at a cheaper rate. Lower interest rate means lower EMI. Without any friction, you would move to the lower interest rate right away. i.e., take the new loan at a low rate and use… Continue Reading
The Reserve Bank of India has issued master directions for Digital Payment Security Controls in its circular dated Feb 18, 2021. Among other things, the intent is to provide greater security to customers in digital transactions (internet, mobile banking, card transactions etc). The rules come into force in July 2021. The directions apply to the… Continue Reading