It’s been a crazy year with Home Loans. As the RBI pumped the repo rate up from 4.0 to 6.5. Home Loans became costlier at a pace not seen in years. Voluntary EMI hikes are a great way to reduce Home Loan tenor and get out of debt faster. Read on to know more!
As Home Loan rates continue to spike, borrowers need to understand all aspects of the Home Loan process to lower their EMI burden. In this article, we will discuss what a Home Loan spread is, and how it can affect your debt burden.
A recent press report said that UCO bank has planned to more than double its total business to Rs 6 lakh crore by FY16 through customer acquisition and network expansion. Mr.R.K. Agrawal, its field General Manager of the bank said that the bank’s total business stands at Rs 2.45 lakh crore and that the bank wants… Read More »
If one buys a 500 sq.ft flat in Navi Mumbai at a cost of Rs 3500 per sq ft, the total cost would be Rs 1750, 000. At an 8.5% interest for 15 years, the interest rate would be Rs. 13,51,940. If the prices go up to Rs 5500, the cost jumps by 57% to… Read More »