You have always been regular with your credit card payments. However, due to a financial emergency, you have not been able to make full payments for the last two months. With partial payments, you do not even enjoy interest free credit period. High interest rates, late payment and different types of financial charges are compounding… Continue Reading
You can check the impact of prepayments on your home loan using our Home Loan EMI Calculator. You recently landed up a hefty bonus. You have the financial wisdom of not splurging the entire bonus amount on expensive gadgets or a long vacation. You have earmarked a significant amount to prepay existing debt. But, there… Continue Reading
I have heard many a householder lament that by end of the month they do not know where their money has gone, and they are left with no savings and worse, waiting for the next salary credit. Do you fall in this category? This can happen if you do not keep household accounts. But while… Continue Reading
When an Indian national is going abroad for whatever purpose – job-related, business or simply to explore the world – he/she has a number of choices as to how it is proposed to carry foreign exchange for expenses abroad. It can be in the form of foreign currency notes, foreign currency travellers cheques, foreign demand… Continue Reading
Liquidity is an important aspect of any investment strategy. You may have lot of investments in a basket of assets, but how liquid is the asset allocation in an emergency is a very important aspect. This is basically a judgmental call because every individual has his/her own priorities. As a thumb rule more liquid an… Continue Reading
In this age of consumerism one is lost without a credit card. In developed countries, all retail lending by banks happens through credit cards. In India, banks have categorized retail lending into personal loans, loans for purchase of durable utility articles, vehicle loans, home improvement loans etc., and these are separate retail credit products distinct… Continue Reading
Remember ‘0% EMI’ schemes? Banks made money, manufacturers and merchants exhausted their inventory and consumers spent with gay abandon (for electronic goods and household items) until RBI played the party pooper. Although 0% EMI schemes were discontinued after RBI ban, the importance of the potent combination of ‘convenient credit’ coupled with flexible payment options, was… Continue Reading
“Oh my God, take a look at my credit score. Its awful!” cried my cousin showing his credit score along with the credit information report (CIR). “I have a salaried IT job & a healthy bank balance, have always paid the credit card balance in full and have never taken any loans. And this is… Continue Reading