In this instance, as it is an interest free loan, the tax rebate on interest repaid on the home loan does not arise at all. Also, if a relative gives the loan, the principal repaid on such loan does not qualify for the tax break under Section 80C.
Interest rates have finally cooled off a bit, with the RBI bringing down the CRR and repo rates recently. Some banks have already announced rate cuts on loans and few others are following suit. So, does it make sense to refinance your existing home loan? Will it help you save significant money by closing your… Read More »
Pratima Mathur was feeling extremely angry. How could the bank do this to her? She was a stickler for immaculate money management skills. She never once defaulted or made a late payment for that matter even on her telephone bills.
In this time and age where the Internet is seen as the mother of all information sources, the Indian online loan marketplace is in woeful lack and has plenty of scope to make a world of difference. Getting personalised rate quotes from multiple banks is a time consuming process and even after getting the quotes,… Read More »