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
You made a killing recently on a house that you had purchased 15 years ago. You had bought this house for Rs 7 lacs. Recently, you sold the same house for Rs 1.5 crores. Net absolute gain of Rs 1.43 crores. You are aware of the indexation benefit on sale of a long term capital… Continue Reading
You are looking for a small loan of Rs 1 lacs for purchasing new furniture for living room of your new house. The first thing that comes to mind is a personal loan. But you are aware that personal loans are quite expensive. The interest rates can vary from 14% to 18% p.a. or even… Continue Reading
You have been planning to buy a car. In fact, you have been looking to buy one ever since you finished college. You have also accumulated money for down payment. And have been planning to take loan for the remaining amount. In this post, I will discuss a few things that you should keep in… Continue Reading
With real estate prices at elevated levels, purchase of a dream house is not easy anymore. Higher residential real estate prices lead to requirement for higher value loans too. If the bank or housing finance company feels that your salary is not enough to service the loan comfortably, it can even decline your loan application.… Continue Reading