When we are looking for home loans, we tend to go with the loan product that charges the lowest rate of interest. What if the bank were to charge you a negative interest rate? Essentially, the bank pays you to take a loan from them. Not possible? Well, a Danish Bank has just done that.… Continue Reading
The Reserve Bank of India has cut Repo rate by 110 basis points since the beginning of the year (2019). However, the banks have reduced their weighted average lending rates by 29 bps. If you have a floating rate home loan, then this news is not very comforting. This is a very common grievance for… Continue Reading
Union Budget 2019 announced an exclusive tax benefit of Rs 1.5 lacs for loans taken to purchase electric vehicles. Good news for those who plan to purchase electric bike or car in the next few years. The tax benefit is under Section 80EEB. I briefly touched upon the tax benefit in my post on Union… Continue Reading
You can get loans instantly these days. These instant personal loans are typically of small amounts and for shorter tenure. Every loan has an associated cost. For the long tenure loans, the interest rate is the primary determinant. You prefer to go with the lender that offers you the lowest interest rate. However, the same… Continue Reading
In July 2019, the National Housing Bank (NHB) directed the Housing Finance Companies to refrain from lending under Interest Subvention Schemes to developers. Under an interest subvention scheme (80:20 scheme or any other nomenclature), you pay 20% of the purchase value upfront and the bank disburses the remaining 80% cost to the builder upfront. The… Continue Reading
For most young professionals, buying a house tops the list of priorities. Even those who do not believe real estate makes for a good investment, do not have second thoughts about purchasing a house to stay in. Not only does it give you the comfort of living in own house, it also provides financial security… Continue Reading
Getting loans is easy these days, especially if you are salaried and have the right credit profile. And there are loans available for everything. You can easily get loans for travel, home renovation, wedding, medical treatment or anything under the sun. You can get these loans quickly too. A few platforms claim to provide loans… Continue Reading
The Finance Minister, Nirmala Sitharaman, presented the final budget for the FY2019-2020 on July 5, 2019. The Interim Budget was present in February this year. The new budget retains the relief offered to the taxpayers and adds a few tax incentives for the taxpayers. At the same time, there will a small section of taxpayers… Continue Reading
You need money but you do not have cash readily available. What would you do? Let’s rule out borrowing from friends & family OR taking salary advance as options. Beyond these, you have two options. Sell some of your investments / Withdraw money from your investments OR Take a loan While selling investments is easy… Continue Reading
We know that insurers provide loans against insurance policies. Therefore, if you have a traditional insurance policy and need short term funds, you can approach your insurance company to offer you a loan. The maximum loan amount is 80-90% of the prevailing policy surrender value. If you can’t repay the loan, the insurance company can… Continue Reading