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
Insurance is the first step in financial planning. Before getting your investments right, you must get your insurance portfolio right. If you get your investments wrong, you may still get another chance especially if you are young. However, if you get your life insurance wrong, there won’t be a second chance. If you get health… Continue Reading
Real estate developers and agents do not really rate highly on trust factor. And examples are aplenty. It is not difficult to see stalled projects while driving along the city. Just think of those buyers who have purchased apartments (not as an investment) in those projects. They have been waiting to move into their dream… Continue Reading
In one of the earlier posts on Retirement Planning, I had discussed the importance of starting early, portfolio diversification and a few psychological investments to get you on right financial track. By starting early, you get the power of compounding behind you and your small (involuntary) contributions can result in a significant corpus by the… Continue Reading
When you retire, the routine of a hefty salary credit to your bank account at the beginning of every month comes to an abrupt end. You have purchased a pension plan but that pension is merely a fraction of your last salary. Inflation seems a much bigger demon now. The ability to recover from unplanned… Continue Reading
As the financial year draws to a close, the hustle for tax-saving products grows stronger. The human resources department of your company is after you for proofs of tax-saving investments. Last quarter of the financial year is anyways quite hectic. You are already under so much work pressure. Amidst that you need to find time… Continue Reading
Cost of higher education has been rising sharply even for the colleges in India. The fee for many programs has gone up by up to 5 times in the past decade. The fee for the top business schools ranges anywhere from Rs 15 lacs to Rs 25 lacs. And this is only for colleges in… Continue Reading
Why do we purchase insurance? Well, the answer is simple. You purchase insurance to guard against the impact of a particular event on your family’s finances. That event could be death, illness, disability or damage to expensive belongings. You don’t insure your pen or clothes but you insure your car. Why? This is because loss… Continue Reading
Consider these two scenarios. You quit your job to start a business and need an instant loan. It is unlikely that you will get a quick loan from banks. There are many banks that offer personal loans instantly. However, this facility is available to customers with high income levels and good credit history. You just… Continue Reading
Most of us are quite clear about the tax incentives associated with home loans. You get tax benefits up to Rs 1.5 lacs for principal repayment under Section 80C of the Income Tax Act. Additionally, you get deduction of up to Rs 2 lacs per financial year for interest payment on home loans. Must Read:… Continue Reading