When you buy a product from an e-commerce website, you have multiple options to pay through credit. You can pay in full or through merchant EMIs. You can pay in full and later request your bank to convert this purchase into a loan (EMIs). OR you pay in full and take out a separate personal… Continue Reading
A friend had to buy a car. For the funding, he was considering 3 options. Break bank FDs and pay for the car Take a car loan Take loan against the FD He was not too keen on breaking the fixed deposit. Two reasons. Firstly, he didn’t want to break the FDs. Accumulating a corpus… Continue Reading
The Reserve Bank of India recently cut Repo rate by 0.25% from 6.25% p.a. to 6.0% p.a. You have heard that the rate cut by the Reserve Bank will lead to lower EMI. However, despite this rate cut, let’s say, your loan EMI has not gone down. What could be the reasons and what can… Continue Reading
Pradhan Mantri Awaas Yojana-Urban (PMAY-U) was launched in 2015 to provide affordable housing to poor and middle-class families. The revamped PMAY-U 2.0 was launched in 2024, and the scope was expanded to construct, purchase, or rent a house in cities. PMAY-U 2.0 has 4 main verticals. Beneficiary led construction (BLC) Affordable housing in partnership (AHP)… Continue Reading
You have been working for 10-15 years. You kept applying for various credit cards over the years depending on your expense preferences at a particular time. As a result, you have accumulated too many credit cards. You do not even use all the cards. You have not used some of them for a couple of… Continue Reading
The Reserve Bank has revised the priority sector lending eligibility for housing loans vide its Master Directions on Priority Sector Lending, 2025. As a prospective home loan borrower, how does it affect you? What is Priority Sector Lending? Priority Sector Lending (PSL) is an RBI policy to encourage banks to lend to certain key sections… Continue Reading
Budget 2025 has made the New Tax regime more attractive, but we know that the new tax regime comes with certain restrictions. You do not get tax deduction for investments under Section 80C, specific expenses (health insurance under Section 80D, house rent/HRA) and loan repayments (home loan and education loan). Hence, as a taxpayer, you… Continue Reading
Recently, we reviewed a Fixed Deposit backed credit card from ICICI Bank (ICICI Bank Instant Platinum First Credit Card). Such credit cards are useful for first-time borrowers who are struggling to get their first credit cards because of adverse or lack of credit history. You can use such cards to build or improve your credit… Continue Reading
If you file returns under the new tax regime, if your annual income is up to Rs 12 lacs, then you do not have to pay any taxes. That is a major concession. Now, assuming you are retired, and your only source of income is house rent, you can earn a fair amount of rental… Continue Reading
The Union Budget 2025 brought huge relief to middle class taxpayers by changing tax slabs and reducing tax rates. Further, the income up to Rs 12 lacs was made tax-free through rebate under Section 87A. Amidst this excitement, you may have missed an important change for taxpayers with multiple houses. In this post, let us… Continue Reading