Shekar had just shifted to Pune and met his long lost friend Manish at the local café. While discussing their personal life, Shekar asked Manish about his house rent. Manish said he was paying Rs 16500/- for a two BHK flat just on the edge of the city.
The place of residence is significant in HRA calculation as for a metro the tax exemption for HRA is 50% of the basic salary while for non-metros it is 40% of the basic salary. This holds true especially when you work at a metro and reside at a non-metro. In this case, your city of… Read More »
It is important to ask certain questions: Have you chosen the right card? Do you know the interest rate on your credit card? Did you stop to read the fine print? Do you depend on your card and spend the maximum credit limit? Do you buy impulsively and purchase things you don’t really need? Have… Read More »
The RBI recently announced its annual policy for 2011-12. NDTL, MSF, LAF, and so on and so forth, the document has a lot of financial jargon. So what do the policies of the RBI with respect to these jargons mean in real life terms to a common man’s day to day life… Read on to… Read More »
While school and college fees are relatively low, it is not the case with higher studies, especially when it is pursued abroad. Hence banks and financial institutions provide educational loans to fund studies. These are special purpose loans that help the students cover the cost of pursuing a higher degree or some specialized courses. They… Read More »
When there is an increase in the Prime Lending Rate (PLR), the interest rate on your loan will also go up, and your repayment would be higher. However, in most cases, financial institutions would allow you to pay the fixed amount of monthly repayment (EMI) throughout the loan tenure and would make any adjustment caused… Read More »
Load is a fee that is charged when you buy or sell the units of a fund. When you buy the units of a fund, you pay a percentage of it as a fee. This is known as the entry load. Generally, if funds charge an entry load, they will not charge an exit load… Read More »
At the end of it, this whole thing about keeping children out of money matters was probably a wrong idea. Children have to be introduced to money and how it works. Children should be allowed to take money decisions, make mistakes and learn from them when we can still hold their hands.
For overseas Indians, India offers a tremendous opportunity for investment and wealth building as India is slated to grow at the rate of 8%-10% for the next few decades.
For most middle and upper-middle class families, a house is the most expensive asset owned by them. The asset also has emotional value and therefore families should perform meticulous research before buying the same. The following is a set of must-dos before buying a house.