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
When it comes to financing a new home, people have a lot of questions for which they need to find answers even before they begin the property search. For example, how big a house can one afford to buy? What will be interest that will be charged for a housing loan? What should be tenor… Continue Reading
When I relocated to Pune in 2003 due to professional commitments, I decided to rent a flat close to my work place. The idea of buying a flat instead of renting never occurred to me until my boss broached the topic. We did some simple calculations taking into consideration my gross/disposable income, age, finances and… Continue Reading