ICICI Smart Fix Home Loan: Fixed, Then Floating

Recently, I came across a borrower who had opted for ICICI Smart Fix Home loan. Under this loan product, your loan is fixed rate for a few years (3 years in this case) and thereafter becomes a floating rate loan. Intuitively, such a loan product could be useful if you expect interest rates to go… Continue Reading

Loan against FD vs a Car Loan

A friend had to buy a car. For the funding, he was considering 3 options. Break bank FDs and pay for the car Take a car loan Take loan against the FD He was not too keen on breaking the fixed deposit. Two reasons. Firstly, he didn’t want to break the FDs. Accumulating a corpus… Continue Reading

Should You Finance Your Car with a Top-up Loan?

You’re looking to buy a car using a bank loan. You already have an existing home loan with your bank that you have been aggressively prepaying over the years. Your bank app tempts you with a customized top-up loan offer with instant approval and 24-hour disbursal. Should you use it to finance your car purchase?… Continue Reading