As you start your retirement, you will need to replace your salary with another source of regular income. If you have been part of a defined benefit pension scheme or have been investing in a pension plan during your working years, you will not feel as much pinch. Those who have not purchased a pension plan… Continue Reading
Being self-employed gives you the freedom to work on what you want and how you want. You don’t have to deal with a rude boss and frustrating office politics. You may get to choose your work timings. Till now, everything sounds good. However, self-employment can bring its own set of unique problems. There is no… Continue Reading
I got an e-mail from one of the regular readers at EMICalculator.net. He brought to my notice an aspect I had failed to cover in my earlier post on Home Loan Protection Plans (HLPPs). Case Summary His father had taken a loan of Rs 8.95 lacs for a tenor of 17 years from a leading… Continue Reading
Have you felt the need for gold in your investment portfolio? If you have not, you need to think again. Gold is a physical asset, is globally priced and can be a good hedge against high inflation and rupee depreciation. Even though gold is a speculative asset, it deserves a small part in your investment portfolio… Continue Reading
Ramesh is 45 years old. He has read enough about importance of purchasing an adequate life cover. Till now, he has relied on traditional life insurance plans for life insurance. He had never given any serious thought to purchasing life insurance. Even these traditional life insurance plans are more a result of hectic tax-planning than… Continue Reading
You are aware that you get tax benefit of up to Rs 1.5 lacs for principal repayment under Section 80C of the Income Tax Act. You are also aware about tax benefit of up to Rs 2 lacs for interest payment for a housing loan for a self-occupied house. In case the house is not… Continue Reading
Credit cards are easily available these days. The banks keep chasing customers with attractive offers (or so they say) on their credit cards. Personally, I am not against credit cards. If you use your credit cards judiciously, you can save a lot of money. You get an interest free credit period of up to 52… Continue Reading
Ever received an e-mail about pre-approved loans from your savings bank or credit card issuing bank? Most of us will answer this question in the affirmative. The e-mail is typically about a pre-approved home loan or a personal loan. The frequency of such e-mails is quite high too. I get an e-mail from my credit… Continue Reading
You have excess cash in hand from the last bonus you received and the fixed deposit that just matured. You have been thinking about how to use the funds. Your financial advisors that include your friends, doctor, lawyer and grocer have suggested that you take exposure to equity mutual funds. Your parents have advised you… Continue Reading
Starting April 1, 2016, all floating rate loans (and select fixed rate loans) are now linked to Marginal Cost of Funds based Lending Rate (MCLR). You will get loans at a spread over MCLR. What is MCLR? How is it calculated? How is it different from Base Rate regime? Why has RBI asked banks to… Continue Reading