A 6-Point Wishlist for Union Budget 2023

The Union Budget 2023 is round the corner. Are you ready with your wish list? What do you want from this budget? Lower taxes? Higher tax deductions? Additional tax exemptions? The Budget announcements may not meet all your demands/wishes since the Government must strike the right balance between populism, targeted incentives, and tax collections. Still,… Continue Reading

Where to Find Money for Home Loan Prepayment?

A few weeks back, I wrote about the impact of RBI repo rate hikes on your home loans EMIs. RBI Repo rate hikes will quickly translate to longer loan tenures or higher EMIs for the borrowers, especially if your loan is linked to an external benchmark. If there is scope to increase the loan tenure… Continue Reading

How Can You Use an Overdraft Facility Smartly?

Not all credit is bad. In this post, I will show how an overdraft facility can be useful in certain cases. What Is an Overdraft Facility? An overdraft facility is a revolving credit facility just like a credit card. You pay interest only on the drawn (utilized) amount. You can draw from the facility up… Continue Reading

Are You Planning to Make a Tax-Saving Investment?

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

ICICI Bank Insta Loan Against MF Facility

ICICI Bank has launched an instant loan against mutual funds facility. So, if you are an existing ICICI Bank customer and have made mutual fund investments, you can apply for an instant loan against your MF investments. The loan is available in the form of an Overdraft facility (and not a term loan). You pay… Continue Reading

Loan against Securities from Bank of Baroda

In times of need, when a personal loan is not an option, many of us have to offer collateral to the bank/credit institution to get a loan. In many of our earlier posts, we have discussed loan against gold jewellery, loan against property, loan against insurance policies and loan against financial investments (securities). Since gold, insurance… Continue Reading

HDFC Bank Digital Loans Against Mutual Funds

I had written a post on loan against securities earlier. However, the process always seemed a bit drawn out. It can easily take up to 5-6  days to avail the facility. HDFC Bank has come out with a loan facility — Digital Loans against Mutual Funds or Digital LAMF — where you can pledge your… Continue Reading