There is no set upper limit to the amount you can pay as down payment – it all depends on how much cash you can manage to set aside. The more you are able to pay as down payment, the lesser is the amount of loan taken from a bank, resulting in easier monthly payments… 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 »
One very important aspect we need to understand is that after the age of 45 no insurance company will provide a health policy without medical check examination. Once the medicals are done and the individual is prone to even 0.001% of any disease, that particular ailment will be excluded from the policy and he/she cannot… Read More »
The expense ratio is the proportion of recurring expenses that a fund charges to its schemes year after year, and so the Expense Ratio is also known as Annual Recurring Expenses. This basket of charges comprises the fund management fee, agent commission, registrar fees and the selling and promotion expenses.
Real estate appreciates in capital – particularly the land. The building generally depreciates. Recently the National Housing Bank launched the Residex, an index which will track the capital appreciation of real estate house properties. The data is updated for 3 years now. Over a period of time, the index can be used as a good… Read More »
“I thought you would never ask! Well, it’s quite a story. I was originally the symbol of Count Francesco Baracca, an Italian WWI pilot and a national hero. He used to paint me on the side of his plane. He passed away on 1918, too young to die, but that is all in the past.… Read More »
On the other hand virtual cards are being promoted by Banks specifically to address such fraudulent online transactions. These cards go one step even further in implementing online security. They are a one time use card. The user can generate this card online via a simple registration process several times during any given day with… Read More »
Rajiv looked harassed and upset. When he saw Raghav he quietly handed over some sheets of paper which was the hospital bill for Rs. 5.25 lacs and a faxed letter from the insurance company saying that they would pay up only Rs. 2 lakhs. Rajiv explained that their group medical insurance covered parents only upto… Read More »
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.