The current evidence of industry reports suggesting home loan interest rates are likely to fall as low as around 8%, like how they were in the year 2004 is fantastic news for aspiring home buyers, who can now have an EMI and loan tenure that allows them to accommodate other priorities in their budget.
Time and again RBI has urged banks to rethink their BPLR to encourage lending and allow the train of money rotation to chug along at a peaceful pace. Benchmark Prime Lending Rates (BPLR) is a reference interest rate used by Banks as a benchmark to determine the interest rate passed on to the customer. The… Read More »
There have been several instances noticed where compromise has been made on the square feet area of the house. For example, balconies have disappeared from floor plan, 1000 sq. ft homes are being converted to 850 or 900 sq. ft. in a bid to make space for more apartments in a block, 544 square feet,… Read More »
The highest risk faced with fixed deposits is the effect of inflation. The real return after adjusting for inflation is very less or sometimes negative for fixed deposits of banks. This is a big burden, particularly for retired people, who have invested their retirement proceeds to get regular income. Their income may be regular and… Read More »
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.
If you are determined to stand on your own feet, then no disabilities matter. “I am 38 years old and physically handicapped (polio affected). As per the Government’s various plans for handicapped persons, I am liable to get a loan to start a business. However, I haven’t found any Government department so far that could… Read More »
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 »
There are quite a few things that could be incorrectly recorded in the credit information reports that are stored with CIBIL. Here are a few instances, detailed for your understanding.
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 »