Loan against Property: Term Loan or Overdraft?

 A Loan against Property can take two forms — A Term Loan or an Overdraft Facility. What Is the Difference? In a term loan, the entire amount will be disbursed upfront. You will pay EMIs on the loan for the duration of the loan. You will have to pay interest on the disbursed amount even… Continue Reading

Which Is the Best External Benchmark Loan?

All the banks linked the new retail floating rate loans to an external benchmark from October 1, 2019. In my opinion, that makes the comparison between various home loan products easier. Most of the banks have chosen Repo rate for the external benchmark for home loans. Earlier, benchmark MCLR (Marginal cost of funds-based lending rate)… Continue Reading

Now, Loans for Rental Deposits Too

If you are moving to one of the bigger cities such as Mumbai and Bengaluru, finding a cheap accommodation is not easy. Rentals can be quite high too. However, as a tenant, paying high rent is not the only problem. You need to put up a big security deposit with the landlord/owner too. In Mumbai,… Continue Reading

Home Loan Tax Benefits 2019

For most young professionals, buying a house tops the list of priorities. Even those who do not believe real estate makes for a good investment, do not have second thoughts about purchasing a house to stay in. Not only does it give you the comfort of living in own house, it also provides financial security… Continue Reading

Converting Credit Card Outstanding into EMIs

Recently, I got a promotional email from a bank to convert credit card outstanding to EMIs. The EMI amount will be added to the credit card statement every month. I have discussed such deal structures in much greater detail in an earlier post. However, there have been a few interesting developments in the payments space that such… Continue Reading

HDFC Bank Two Wheeler Loan

In many of our earlier posts, we have considered big ticket loans (car loans, home loans etc). However, those starting their professional careers or those who have just stepped out of college may not really be looking for such big-ticket loans. They may be looking for much smaller loans to purchase products for lifestyle, convenience… Continue Reading