A friend was planning to take a home loan of Rs 75 lacs. With an EMI of Rs 66,278 for 20 years. Over the 20 years, the total of all payments will be Rs 1.59 crores. So far, so good. Now an interesting twist. He calculated the cost of this home loan as 3.83% p.a.… Continue Reading
Your most recent credit card bill is Rs 1.5 lacs. Your cashflows do not allow you to settle the card bill in full. What do you do? Clearly, you should have been more careful and should not have raked up such a high card bill in the first place. While you should have been more… Continue Reading
Debt is bad. Loans are bad. That’s what we are fed religiously on various social media channels as well. That’s correct to an extent too, especially for personal balance sheets. If debt is not managed well, it will lead to big problems. However, things are not always black and white. Debt, if taken within limits… Continue Reading
Has your credit card application been rejected? If yes, do you know the reason? The banks usually do not tell and just reject the application. If you have recently started working and had applied for your first credit card, a reason for rejection could be the lack of credit history. Also known as ‘No Credit… Continue Reading
Almost everyone wants to close their home loan soon. A home loan is a big liability and getting this burden off the head is important for most households. Of course, there is only one way to close the home loan soon: Pay more than the EMI. There is no other way. Yes, a reduction in… Continue Reading
Recently, I misplaced my wallet. I used the word “misplaced” because I was not sure if I had lost it or had simply kept it somewhere and forgot. I noticed my wallet was missing in the morning, and I had last seen my wallet the previous evening. While I found the wallet in the house… Continue Reading
I tried to recharge my FastTag account recently through Paytm app. Decided to make payment through a credit card. My credit card was already saved/tokenized on the app and hence did not have to enter the credit card details. That’s expected and quite convenient too. However, I was not asked to enter CVV either. The… Continue Reading
Recently, I came across a viral content on social media where the author referred to home loans as a scam. Why? The author took a loan of Rs 48 lacs. EMI of Rs 42K. After paying 15 EMIs, the author had repaid only Rs 75,000 in principal and Rs 4.8 lacs in interest. And it… Continue Reading
The Government of India took away indexation from real estate investments through a proposal in the Budget 2024. After collecting feedback, the Government retracted and allowed indexation benefit to properties bought before July 2024. How Will the Capital Gains from Real Estate Be Taxed? For properties sold before July 23, 2023 Short Term capital gains… Continue Reading
You need to pay your daughter’s college fee of Rs 15 lacs in the coming month. You are wary of visiting the bank branch multiple times for getting an education loan sanctioned. You took a home loan 5 years back. You get a call from your bank that you are eligible for a top-up home… Continue Reading