We have discussed several ways of raising funds in times of need. We have talked about many other ways of raising quick funds such salary loans, personal loans, gold loans, loan against securities or mutual funds. In this post, let’s look at another way of raising funds in times of need — Loan Against Car. I am not… Continue Reading
A Reverse Mortgage Loan (RML) can provide a useful income stream for senior citizens during their retirement. You can monetize your residential property and generate income while continuing to retain the ownership so long as you are alive. I have discussed Reverse Mortgage loans in detail in another post. In this post, I will look… Continue Reading
In an earlier post on Loan against Property, we had discussed the product in detail. In this post, we look at Loan against property product from State Bank of India. SBI Loan against Property (SBI LAP): Salient Features Loan amount up to Rs 7.5 crores Loan Tenure of up to 15 years Loans extended against… Continue Reading
You don’t like apartment life. You want to construct your house on a small piece of land and live there peacefully. Another reason for such a choice could be that you are not getting quality apartments in the city where you want to stay. And this can be a problem in smaller cities. The issue… Continue Reading
In this post, let’s look at New Home Loan product from DHFL (Dewan Housing Finance Limited). At the outset, I must concede that there is nothing special about this product. It is a plain vanilla home loan product. As simple as it gets. There is no fancy feature in this product that requires a deeper… Continue Reading
SBI has increased its MCLR (Marginal Cost of Funds based lending rate) multiple times (1, 2, 3) in the recent months. MCLR is the benchmark for floating rate loans. Therefore, if you have borrowed from SBI, your loan interest rate would have already gone up in the recent months. Never a happy situation for the… Continue Reading
If you fancy making asset purchases on credit, you would want to be aware how much loan amount you can get. I am not talking about minor purchases where you can simply swipe your credit card. Once the credit card is approved, you can use your card, subject to credit limit, wherever you want. The bank… Continue Reading
When we are scouting for a loan, many of us focus merely on the interest rates. While the rate of interest is clearly the biggest head, you must not ignore other ancillary charges of a loan. The charges (and their nomenclature) depends on the bank/NBFC and also on the type of loan you are going for. Clearly,… Continue Reading
You are planning to move from your existing house to a bigger house. You plan to sell your existing house to fund the purchase. However, there is a minor problem. To purchase your new house, you need the sales proceeds of your existing house. Now, closing a deal (acceptable to you) may take some time. How do… Continue Reading
You have a medical emergency in a family and need funds to settle a hospital bill. You have tried other options but those have not materialized. You are planning to take a personal loan. A friend tells you about the concept of medical loan. You are told that the interest rate on a medical loan will… Continue Reading