Loan Tenure: Keep it Long or Short?

Want to take out a home loan? What should be the loan tenure? 15 years, 20 years, or 25 years. Similarly, what loan tenure would you choose for your personal loan? 18 months, 36 months, or 60 months? OR What is the ideal tenure for a car loan? As always with personal finance, there is… Continue Reading

When Should You Consider Refinancing Your Loan?

Refinancing a loan simply means availing a loan from a new lender to pay off an existing one. You approach a new lender for loan refinancing/balance transfer. The new lender sanctions the loan and settles your loan outstanding with the existing lender. Subsequently, your obligation with the existing lender terminates and a new repayment obligation… Continue Reading

What Is the Real Cost of Your Loan?

You may be really excited to have negotiated a good interest rate for your loan with a bank. However, is the interest rate the only aspect in determining your cost of loan? What about the ancillary charges? Such charges also affect the cost of your loan, don’t they? Flat Interest Rate Loans vs Reducing Balance… Continue Reading

Factors to Consider When Refinancing Home Loan

I have been getting many queries from home loan borrowers pertaining to shift from base rate to MCLR? I have discussed this aspect in an earlier post. Even though the option of switching from base rate to MCLR is worth exploring, there is another option that many borrowers can exercise when it comes to Home loans:… Continue Reading