RBI has recently cut the repo rate by 50 bps. If your floating rate home loan is linked to repo rate, your home loan interest rate would have already gone down or would go down in a few months after the next interest rate reset date. You have just received your bonus. Now that the… Continue Reading
You book an under-construction flat from a builder. You take a home loan to fund the payments to the builder. You are paying the EMIs to the bank. After a few years, you figure out that the construction is not going on as per the plan/contract. The builder is way behind the construction schedule. Your… Continue Reading
Imagine a hypothetical scenario. Your employer offers you a loan at 2% p.a. You can choose any loan tenure you want. 5 years, 10 years, 20 years. You can take such a loan only once. Even if you were to leave the employer, you don’t have to close the loan. You can continue to repay… Continue Reading
You are struggling with debt and are unable to keep up with monthly EMIs and card payments. And you have a bigger problem when your debt is spread across multiple loans or credit cards because you must manage multiple facilities. Tracking so many payments can be time-consuming. Plus, there is also a choice involved. The… Continue Reading
Your laptop has just conked off. A new laptop would cost you Rs 75,000. While 75,000 may not be a big amount for you, you foresee some stress on cash flows and would prefer not to pay at one go. A simple way out is to pay through your credit card and convert the purchase… Continue Reading
Gold loans are a quick way to access secured credit. Moreover, given propensity of Indian households towards gold, this is also an asset. RBI has released a draft circular (Lending against Gold Collateral-Directions, 2025) for gold loans and has made important changes to how gold loans shall be doled out in the future. Of course,… Continue Reading
With the proliferation of lending apps, you may be able to borrow money with a few taps. However, the problem is separating genuine loan apps from fake apps. Borrowing through a fake app can subject you to hidden charges, high interest rates, data theft, and possibly blackmail, harassment, and extortion. To safeguard borrower interest and… Continue Reading
A house is the most expensive purchase for most people. And since you intend to stay there for a long time, it is not uncommon to let your emotions score over fiscal prudence and buy an extremely expensive house. I must say it is unfair on my part to make such broad-based statements because this… Continue Reading
Recently, I came across a borrower who had opted for ICICI Smart Fix Home loan. Under this loan product, your loan is fixed rate for a few years (3 years in this case) and thereafter becomes a floating rate loan. Intuitively, such a loan product could be useful if you expect interest rates to go… Continue Reading
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