A car is an expensive purchase, and many families take a car loan to purchase the car. In this post, I discuss aspects that you must keep in mind while taking a car loan. #1 Processing Fee Car loans are short to medium term loans. Usually, 3 to 5 years. Hence, the impact of processing… Continue Reading
Many Indian banks offers loans to NRIs (Non-resident Indians). However, since the rate of interest for loans is higher in India as compared to personal loans abroad, it is tempting to take a personal loan abroad instead of taking a loan in India. In fact, I know borrowers who have taken a personal loan abroad to… Continue Reading
You may be really excited to have negotiated a good interest rate for your loan with a bank. However, is the interest rate the only aspect in determining your cost of loan? What about the ancillary charges? Such charges also affect the cost of your loan, don’t they? [pullquote] FACTORS IMPACTING OVERALL COST OF LOAN… Continue Reading
I got an e-mail from one of the regular readers at EMICalculator.net. He brought to my notice an aspect I had failed to cover in my earlier post on Home Loan Protection Plans (HLPPs). Case Summary His father had taken a loan of Rs 8.95 lacs for a tenor of 17 years from a leading… Continue Reading
These days, it is not uncommon to find at least one e-mail per day about instant or pre-approved personal loan in your mailbox. The creative teams at banks can actually make you feel that the offer has specifically been customized for you. Do not fall for the attractive advertisement. You must avoid personal loans to… Continue Reading
Those, who have been on the wrong side of loan agreements, would easily understand a small clause or even a word can create a lot of difference. When I say wrong side of the loan agreements, I mean the exact terms and conditions of the loan were different from what you thought when you took… Continue Reading