Most salaried employees get their annual bonuses in the first quarter of the financial year. Many of us plan to spend it way before we actually receive the bonus. You have to keep up with the commitments that you made to your kids, your spouse, your siblings or your parents. You may have an eye on… Continue Reading
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 need Rs 20 lacs to fund a wedding in the family. You approached a few friends/relatives for help. They chipped in but you are still Rs 15 lacs short. You approached a few banks and NBFCs. However, your requests for a personal loan of Rs 15 lacs were politely declined, primarily because you are… Continue Reading
Ever received an e-mail about pre-approved loans from your savings bank or credit card issuing bank? Most of us will answer this question in the affirmative. The e-mail is typically about a pre-approved home loan or a personal loan. The frequency of such e-mails is quite high too. I get an e-mail from my credit… Continue Reading
You are looking for a small loan of Rs 1 lacs for purchasing new furniture for living room of your new house. The first thing that comes to mind is a personal loan. But you are aware that personal loans are quite expensive. The interest rates can vary from 14% to 18% p.a. or even… Continue Reading
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
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 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
Liquidity is an important aspect of any investment strategy. You may have lot of investments in a basket of assets, but how liquid is the asset allocation in an emergency is a very important aspect. This is basically a judgmental call because every individual has his/her own priorities. As a thumb rule more liquid an… Continue Reading