Cost of higher education has been rising sharply even for the colleges in India. The fee for many programs has gone up by up to 5 times in the past decade. The fee for the top business schools ranges anywhere from Rs 15 lacs to Rs 25 lacs. And this is only for colleges in… Continue Reading
You made a killing recently on a house that you had purchased 15 years ago. You had bought this house for Rs 7 lacs. Recently, you sold the same house for Rs 1.5 crores. Net absolute gain of Rs 1.43 crores. You are aware of the indexation benefit on sale of a long term capital… Continue Reading
With real estate prices at elevated levels, purchase of a dream house is not easy anymore. Higher residential real estate prices lead to requirement for higher value loans too. If the bank or housing finance company feels that your salary is not enough to service the loan comfortably, it can even decline your loan application.… Continue Reading
Home loans form the biggest pie of loan portfolio for the most of us. Therefore, higher interest rate on a home loan can translate into a greater EMI outgo. If there is a way by which your EMI burden can be reduced, you can ease pressure on your monthly cash flows. EMI depends on both… Continue Reading
Home Loan EMI is perhaps the biggest monthly expense item for a number of people. EMIs typically comprise 35-40% of take home salaries of individuals. With such high EMIs, very little is left to invest for other financial goals. To purchase their dream house and to keep their EMIs affordable, people go for long tenor… Continue Reading
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
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 are planning to buy your dream home. You have approached various banks to get the best deal on home loan interest rates and other processing charges. After much hard work, you have finalized a bank. During a visit to the bank to complete formalities, the bank official told you it is compulsory to purchase… Continue Reading
In our previous article on the Rent Vs Buy, we had discussed about the financial factors that impact the home buying decision. In this article we will cover some of the non-financial factors that influence this decision. Once you’ve done your calculations and arrived at the conclusion that financially you are in a position to… Continue Reading
People are prone to diseases and it is impossible to predict as to when a health crisis will manifest itself in your life. Health care also has improved leading to longer life expectancy. However, the cost of health care also has gone up, and can empty your life’s savings if you need hospitalization and special… Continue Reading