These days, it is not uncommon to find at least one e-mail per day about instant or pre-approved personal loan in your mailbox. The creative teams at banks can actually make you feel that the offer has specifically been customized for you. Do not fall for the attractive advertisement. You must avoid personal loans to… Continue Reading
Everyone wants to purchase their dream house. The demand for residential property is not just limited for own use. A number of people invest in real estate to gain from appreciation in prices. However, despite the comfort most people have with real estate investments, most developers are running high inventory of unsold flats or apartments.… Continue Reading
Home Loan EMI is perhaps the biggest monthly expense item for a number of people. EMIs typically comprise 35-40% of take home salaries of individuals. With such high EMIs, very little is left to invest for other financial goals. To purchase their dream house and to keep their EMIs affordable, people go for long tenor… Continue Reading
Those, who have been on the wrong side of loan agreements, would easily understand a small clause or even a word can create a lot of difference. When I say wrong side of the loan agreements, I mean the exact terms and conditions of the loan were different from what you thought when you took… Continue Reading
What has to happen before you think you are in a debt trap? Does default of your EMI payments or credit card payments count as a debt trap? Or is there a less critical situation which can also be termed a debt trap? What about when you do not make your credit card payments in… Continue Reading
You had taken a home loan of Rs 50 lacs five years ago for a term of 15 years. Your current outstanding on the loan is 35 lacs. You want to carry out major renovation in our house and you need a loan to carry out such renovation. You are thinking about a personal loan… Continue Reading
You had recently applied for home loan with a private bank. You had done thorough research and were really keen to avail loan from this bank. However, your loan application got rejected. You were informed that your loan could not be approved since your CIBIL score was too low. You had never heard of CIBIL… Continue Reading
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
One of my friends had made up her mind to buy a house. She went about the whole thing in a systematic way. Since she was working with an MNC and earning well, getting a pre-approved home loan sanctioned from her bank was fairly simple. After the pre-approval she identified a house, the purchase price… Continue Reading