I read about an interesting product in The Hindu Business Line about “Design your EMI” home loan product from Godrej Housing Finance website. The said article was in fact a press release. What Is the Claim? In the product, you can choose your own repayment schedule. I copy a few statements from a senior official… Continue Reading
Your mobile wallet such as PayTM and MobiKwik is about to get more powerful. Over the past couple of months, RBI has brought some changes that will bring wallets much closer in functionality to a savings bank account. In this post, let’s look at the changes and how that increases the value the wallets offer.… Continue Reading
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
Flexible car loans provide flexibility to the borrowers in loan repayment. Usually, the flexibility translates to lower EMIs upfront or some concessions during the loan tenure. The loan repayment does not have to happen through equated monthly installments (EMIs), where you pay the same amount every month to the borrower. The lenders can always structure… Continue Reading
If you are a woman entrepreneur in need of funds for your business, there are a few loan schemes that you can take recourse to. We discussed one such scheme Stand up India in an earlier post. Under the scheme, women entrepreneurs can take loans up to Rs 1 crore. The loans under Stand up… Continue Reading
With the second Covid wave impacting lives and livelihoods, the Reserve Bank of India has made an attempt to provide relief to troubled borrowers. While the RBI has not opted for an outright EMI moratorium this time, it has allowed banks to restructure loans under Loan Resolution Framework 2.0. Loan resolution (or loan restructuring) schemes… 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
Have you received messages from your bank that the standing instructions on your credit card will not be honoured from April 1, 2021? And that you must make payments to the service providers/merchants directly. Thus, if you have automated your payments to streaming service providers (Netflix, Disney Hotstar, Sony Liv etc) or for utility payments… Continue Reading