We get several queries from readers about if they can get a loan or how much loan will they get. Some queries have details about the income or security too. It is not easy to answer such queries. The banks look at many more things before they sign off your loan application. By the way,… Continue Reading
You wouldn’t want to find yourself in a situation where you are struggling with debt. As discussed in many of our earlier posts, there are only 4 ways to get out of debt problems. Increase income Reduce expenses Reduce debt Reduce the cost of debt Or a Mix of all the above approaches In this… Continue Reading
If you want to repay your home loan quickly, the only way out is to make some prepayments on the home loan. Many use their annual bonuses to make big prepayments on their home loans. Not surprising that average home loan tenure in India is about 7-8 years. What if you can’t manage very big… Continue Reading
Recently, I read an excellent article from Uma Shashikant about the signs of a person battling with debt. Remember, the person who is in debt trap or nearing one may not tell you if that’s the case. However, if you see such signs and realize that your friend or family member is struggling with debt,… Continue Reading
Technology has made things easier for most of us. From purchasing gadgets and groceries to making travel and hotel bookings, everything can now be done in a few clicks or taps. Mobile wallets such as PayTm, Amazon Pay and PhonePe have add to convenience in a big way. You can now easily make your mobile,… Continue Reading
With how much it costs to purchase a house these days, it is not easy for most people to purchase a house outright. Many of us have to take a home loan if we want to purchase our dream house. On our website, we have discussed interesting home loan products. One of those products is… Continue Reading
Do you use mobile wallets such as PayTM or PhonePe or Amazon Pay? If you do, then do you know the steps you should take if you figure out that there has been a fraudulent transaction using your wallet? What are your rights? What is your liability? Let’s find out. We had discussed about customer liability in… Continue Reading
Recently, I got a promotional email from a bank to convert credit card outstanding to EMIs. The EMI amount will be added to the credit card statement every month. I have discussed such deal structures in much greater detail in an earlier post. However, there have been a few interesting developments in the payments space that such… Continue Reading
Most of us don’t have the luxury to purchase a house without a home loan. So, if you plan to purchase a house, you have to take a home loan at some point during your working years. A question that may cross your mind, “What is the ideal age to take a home loan?” Should… Continue Reading
When is a good time to prepay or part prepay a home loan? When you think about the above question, the next question that comes to mind is how do you define a “good time”. One of the ways to assess this could be the number of EMIs saved due to your prepayment. Let’s understand this with… Continue Reading