Once the lender takes control of the property, an independent valuation is conducted with the help of an independent chartered surveyor who fixes two values for the property. One is the market value of what the property is actually worth and another is termed as the distress value, which is around 15-20% lower than the… Read More »
Your partner may be under the false impression that not knowing the details of your family finances will reduce stress.That’s not the case. Explain to him/her that sharing knowledge and responsibility for your financial life reduces stress as it makes you ready for any situation that may arise when one is unable to operate.
Central Bank of India has introduced a unique recurring deposit (RD) scheme with personal accident insurance cover. The scheme is due to start from December 1.
The year 1957 saw the re emergence of Ford as the top selling brand with the sale of 1.68 million automobiles and the introduction of the Skyliner model with an all steel hardtop capable of changing into an open convertible at the touch of a button. An automatic folding mechanism retracted the top into the… Read More »
Terror insurance is considered to be a difficult product for insurance companies, as the odds of terrorist attacks are very difficult to predict and the potential liability enormous. This combination of uncertainty and potentially huge losses makes the setting of premiums a difficult aspect. Most insurance companies therefore exclude terrorism from the insurance coverage.
No special permission is required for an Indian citizen residing outside India to acquire (by purchase or gift) any immovable property in India other than agricultural land, plantation property or a farmhouse. Therefore, Mr. Sethi can buy a house in India as easily as any resident Indian.
When planning is done for almost everything important things in life, why money be any different? One may argue that money is not an end in itself, so why bother about it. But definitely is an important tool to achieve our goals. For instance, an entrepreneur will be very relieved to realize that his savings… Read More »
Recently the Reserve Bank of India (RBI) has hinted at drafting a policy to restrict banks from imposing prepayment penalty of retail loans. The proposed move follows many such complaints from loan borrowers paying EMIs based on the floating rate of interest. They feel that they are missing out on the benefits of periodical rate… Read More »
The rapidly evolving banking systems have enabled credit cards emerge from a simple tool for cashless transactions to multiple types with different interest rates, fees and reward programs.
This article is a sample case study stressing on the fact that one should look beyond introductory offers to arrive at the actual total loan cost to truly compare various home loan offers from banks. One also needs to consider, will there be better or more expensive offers after a while on both the property… Read More »