In an earlier post on home loan for borrowers in the low and middle income segment, I had reviewed PNB Housing Unnati Home Loan Scheme. In this post, I will review Axis Bank Asha Home Loan Scheme that is targeted at the same segment. You can take this loan for Purchasing a ready, under-construction or… Continue Reading
We have reviewed many home loan products on this blog. However, most of those loan products were for established self-employed professionals and salaried individuals working with Government Organizations or established corporates. However, the desire to own a home is much deep rooted and almost everyone wants to own a house. And most need a home loan… Continue Reading
ICICI Bank has recently launched a scheme where new home loan borrowers will get 1% of EMI as cash back. Most of us would associate cash backs with credit card or online purchases. However, as banks try to find competitive advantage in relatively commodity like home loan market, cash back has found its way into plain… Continue Reading
Axis Bank has a unique offering where the bank waives off your last 12 EMIs if you have maintained a good repayment record. Looks like a really good deal. Who wouldn’t like to save on 12 EMIs? You would, right? Why will a bank waive off the EMIs? Banks never do charity. Clearly, there is… Continue Reading
A few days back, one of my clients me told that his brother was going for higher education and that he (his brother) was unsure if he should take a personal loan or education loan to fund the education. Frankly, it was an apple and orange comparison. It is difficult to compare an education and… Continue Reading
Young salaried employees are target customers for all the banks. Therefore, you can expect them to come with schemes to lure such prospects to their fold. The core idea behind such products is to offer such customers principal moratorium for a few years (since they may not be able to afford the full EMI). The… Continue Reading
In an earlier post, I had talked about ICICI Bank Step-up Home Loan, where the applicants could get higher loan eligibility than regular home loans due to moratorium on principal repayment for a few years. However, the limitation with Step-up loan was that the maximum age was capped at 40 years, the loan tenure was… Continue Reading
Almost everyone plans to purchase a house sooner or later. For those who want to purchase their house early in their professional career, affordability of the home loan can be a serious issue. Your salary grows over a period of time. Your non-discretionary expenses such as rent, groceries, utility bills, school fees for kids etc.… Continue Reading
Many of us purchase car on loans. Wouldn’t it help if you were to pay lower EMIs every month? Here are a few tips to reduce your car loan EMI burden. 1. Negotiate on the Price First, Then on the Loan Terms You need to negotiate on the price of the car first. Loan interest… Continue Reading
I do not think there will ever be a crisp answer to this question. First, when the “right property” comes along, you will convince yourself to stretch your budget and go for a larger home loan. So, all the calculations and discussion on this topic may be futile to some extent. Well, nothing wrong in… Continue Reading