Suresh’s real estate agent informed him that a property under construction will cost him lesser than an apartment that is ready for him to move in. So, he encouraged Suresh to consider purchasing a home under construction by the builder. This is because Suresh is not in an urgent need to move into a new… Read More »
Plot/land loans can be obtained for agricultural purposes or if the land has been approved for house construction, it can be obtained for constructing your home in the near or distant future. Not every bank is keen on lending for land purchase as they foresee difficulties in documentation and protection of land against encroachments.
The interest rate offered by banks depends upon several factors like the term of loan, amount of loan, type of interest rate – fixed or floating, whether it is a new car or an old one, credibility of the borrower, age and income of the borrower etc. Therefore, one has to negotiate to get the best… Read More »
To get the best out of the tax savings, it is good to let the partner with the higher pay make a higher contribution towards the home loan resulting in a better tax benefit collectively. In any case as both Niranjan and Chitra are earning, other expenses can be managed with the income of the… Read More »
Typically interest rate on the education loan starts accumulating as soon as the course is over. Since interest during the moratorium period will be paid by the government, EMI for the borrower is set to fall. This will reduce pressure on his/her cash flows. This is a proposal which has been submitted to the Planning… Read More »
Driving the most luxurious car has been made possible by the stiff competition in the automobile industry in India, with overseas players gathering the same momentum as the domestic participants. Every other day, we have been hearing about some new launches, some low cost cars – all customized in a manner such that the common… Read More »
Prime lending Rate is the benchmark interest rate on the basis of which financial institutions decide the interest rates on the various loan products. For example, a bank might say a loan interest rate will always be 0.5% above the PLR. So this means if the PLR increases or decreases by a certain amount, the… Read More »
Indian Automobile Industry is in the growth phase and the Indian auto market is still untapped with the majority of the people in the country not owning a four wheeler. Also even with those who own cars – the trend suggests that people tend to shift cars every 4-7 years of owning a car with… Read More »
The fiscal 2009-10 saw a dull performance by the personal loan segment, according to the macroeconomic report from the RBI. The rivals of personal loans, viz education loan and home loans however did not display such poor performance. While personal loans showed a 4.7% increase last fiscal as against to 6.6% growth last year, its… Read More »
During the height of recession, banks had stopped offering personal loans. However they have started offering these loans again, but have become very strict with offering unsecured loans.