IDFC First Bank is launching credit cards where the borrowers will have to pay only 9% p.a. as Annual percentage rate (APR) or the interest rate. This comes as a healthy surprise since we are used to 36%-40% p.a. APR on credit card debt. If you are new to this terminology, 36% p.a. APR means… Continue Reading
Loan interest rates have been going down over the past 18 months. It is also evident in the examples that we use for various illustrations in our posts. Earlier, we used 9-10% p.a. for long term loans. Now, we use 7-8% p.a. in the illustrations. If you use Amazon or Flipkart, you would have noticed… Continue Reading
I am a bit paranoid about using credit cards online. Therefore, I prefer to use wallets (such as PayTM) or UPI on new sites or the sites I do not trust much. A problem with this approach is that you cannot use wallets or UPI on international websites. In addition, there are a few minor… Continue Reading
I spoke to a client a few days ago. She told me that she ended up spending over 5 lacs in the recent Diwali season towards all kinds of purchases including gifts. A few insurance premium payments also came due in the month of November. While she had an idea that she will run a… Continue Reading
Question 1: Interest rates have gone down. I want to buy a house. While I can fund the purchase with own funds, I think taking a home loan is a good idea since the interest rates are low. I can earn a higher return than the loan interest rate on my investments. Plus, I will… Continue Reading
The festival season is here. The developers are sharing offers on their real estate projects too. Now, these offers can take any form. Recently, I came across an article in Hindustan Times, where the author listed different types of offers from various builders. What Form Can Such Festive Offers Take? Upfront discount (You won’t see… Continue Reading
You plan to buy an expensive phone from Flipkart or Amazon. You do not have the free cash to buy the phone outright or settle the credit card dues in a month’s time. What can you do? You can buy the phone on EMIs. You have two options. You take the EMI offer available on… Continue Reading
Amazon has launched Amazon Pay Later facility. As the name suggests, you can use the facility to buy now and pay later on Amazon. In this post, let’s find out how this facility works and how you can register for the facility. How Does Amazon Pay Later Work? Amazon is an e-commerce company and cannot… Continue Reading
Did you recently purchase a product on the No-cost EMI? Are you planning to avail moratorium on such a loan? If the answers to both the questions is YES, how will the moratorium affect the No-cost EMI structure? Will this still be a No-cost EMI? Let’s find out. How Do the No-Cost EMIs Work? You… Continue Reading
Are you wary of buying an under-construction property? While under-construction properties are cheaper and offer greater potential for capital appreciation, such properties also come with an element of uncertainty. What if the builder fails to deliver the property on time? Or from what many buyers across the country have faced, the builder fails to deliver… Continue Reading