What Is 20-10-4 Rule for Car Loans?

Our brains are not wired to perform very complex calculations without assistance. Either we need pen and paper to solve. Or a calculator or spreadsheet software to solve complex problems. Now, if you really want, it is not difficult to find a pen and paper. And mobile phones provide 24X7 access to calculators and spreadsheet… Continue Reading

How to Use RuPay Credit Card for UPI Payments?

Recently, I signed up for a RuPay credit card from a leading private sector bank. I already had a couple of credit cards, but I still signed up more out of curiosity and excitement than anything else. UPI is ubiquitous now and I didn’t want to be left behind in understanding how credit card payments… Continue Reading

Can a ‘Credit Card Takeover Loan’ Help?

Struggling with credit card debt? You make small payments on your credit card every month, but the debt just does not seem to go down. Why Does This Happen? Because credit cards are the most expensive debt in the formal finance sector. The interest rate ranges from 36% to 45% p.a. While you may be… Continue Reading

What to Do if Your Credit Card Is Stolen?

Have you ever lost your credit/debit card? If you have, how did you react? Did you panic? What is the first thing you did? However, do you really need to worry? Don’t credit cards have inbuilt security features? For instance, when you swipe your credit card, you must enter your credit card PIN. And unless… Continue Reading

When in Muddled Waters, Math Is Your Friend

What is an EMI? Equated Monthly Installment. We usually associate this term with loan repayment. Every month, the same amount (and hence the word “Equated”) gets debited from your bank account and is used for loan repayment. A portion of the EMI goes towards interest payment and the rest towards the principal repayment. We have… Continue Reading