You purchase your favourite gadget/furniture. At the sales counter, you notice an offer of taking a loan for the purchase amount at 4%. You get excited. After all, you get a higher rate of interest in a fixed deposit. It makes for a nice arbitrage opportunity. Let’s understand such offers with the help of an example. You… Continue Reading
You know that your credit score plays an important role in getting a loan. A lower credit score can simply ruin your chances of getting a loan. What you perhaps didn’t know was that a good credit score could get you better interest rates. Although it may already be happening internally, nothing was out in… Continue Reading
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
Recently, State Bank of India cut its MCLR (Marginal Cost of Funds based lending rate) by 0.9% p.a. from 8.9% p.a. to 8.0% p.a. This is bonanza for those who are planning to take a home loan this new year. Many other banks have followed suit and cut the MCLR rates sharply. However, this rate cut… Continue Reading
Should I switch my home loan from base rate to MCLR? Many readers of EMICalculator have have asked me this question by e-mail or in a comment on the website. A typical query goes like this: I have an outstanding loan of, say, 20 lacs at, say, 9.8% per annum. It is a base rate linked loan. My… Continue Reading
If you are looking to raise short term funds quickly and have a sizeable investment portfolio, loan against securities is an option you can consider. In this post, let’s look at loans against securities in detail and assess whether you must consider such loans. What Are Loans Against Securities? As the name suggests, you can… Continue Reading
Looking for a short term loan to fund an emergency in the family? Among various ways to raise short term debt, a loan against your existing fixed deposit might just be one of the quickest. In this post, I will discuss loan eligibility, interest rate and pros and cons of such loans. We will also… Continue Reading
You have finalised your dream house to purchase. You have also finalised the bank to take home loan from. You have a long relationship with the bank. You have been informally told that you will get the loan easily given your high repayment ability. You are planning to visit the bank branch tomorrow. The spirits… Continue Reading
Credit cards can provide you many benefits. You can get discounts and cashbacks on the popular shopping portals. You get discounts at your favourite restaurants. You get discounts while booking flights and hotels. You get rewards point which can be used for future purchases and for exciting gifts or gift coupons. We have seen the… Continue Reading
I got an e-mail from one of the regular readers at EMICalculator.net. He brought to my notice an aspect I had failed to cover in my earlier post on Home Loan Protection Plans (HLPPs). Case Summary His father had taken a loan of Rs 8.95 lacs for a tenor of 17 years from a leading… Continue Reading