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
The new year has begun on a positive note for those planning to take on new loan and also for those borrowers who are already paying EMI against their home loan or a car loan. The RBI just announced a repo rate cut by quarter per cent (0.25 per cent) and this is likely to… Continue Reading
Personal loan, as the name itself suggests, is the loan taken to fulfill any personal financial requirement. It can be used to meet the unexpected medical expenses or to purchase home appliances or even it can be used to purchase apparels of your favorite brand! Personal loans are easy and convenient way to borrow money… Continue Reading
Do you know the story of Bhasmasura? In Hindu mythology Bhasmasura was a demon who got a boon from Lord Shiva that anyone he touches with his right hand should turn into ashes. Once he got this boon, Bhasmasura wanted to try it on Lord Shiva himself. On seeing the plight of Shiva, Lord Vishnu… Continue Reading
In this news roundup, we bring you our analysis of the latest and most interesting loans, interest rates and EMI related news from various resources. Banks not to raise lending rates for now While the mortgage rates in U.S. are at a record low, the persistent rate hike by RBI has increased borrower’s anxiety in… Continue Reading
The Reserve Bank of India (RBI) raised its repo rate – rate at which it lends to banks – and reverse repo rate – the rate it pays to banks for deposits – by a quarter of a percentage point to 8.25% and 7.25% respectively. With today’s rate hike, RBI has raised interest rates 12 times in… Continue Reading
Deciding how much home loan you should avail depends on how much EMI you can afford to pay for the next few years. So how much EMI can you really afford? There are certain financial as well as personal aspects that you have to consider to determine this. Although we are discussing all these points… Continue Reading
Although EMI stands for Equated Monthly Installments, it does not mean that it will never change. When availing the loan, you estimate your EMI by taking into account a fixed loan amount with fixed rate of interest for a fixed loan tenure. However situation can change over time and many factors could alter your EMI… Continue Reading
When availing a home loan (mortgage), among the many decisions to make, the hardest is probably deciding the type of interest rate that you should choose. First let us learn about the different types of interest rates offered by the financial institutions: Fixed rate of interest: In this case the rate of interest payable remains… Continue Reading