At the time of availing Home Loan, the biggest dilemma is to select Floating vs Fixed Interest Rate. Any wrong decision can put big hole in your pocket. Normally, risk averse customers opt for Fixed Interest Rate. If you decide to switch loan from Floating to Fixed during loan tenure then you might need to shell out charges upto 1% of outstanding loan amount. Let's find out pros and cons of both to solve this riddle of Floating vs Fixed Interest Rate Home Loan Floating Interest Rate Home Loan Between Floating vs Fixed Interest Rate, In Floating Home Loan interest rate is linked to Base ... Read More
15 Home Loan Hidden Charges Banks Don’t Tell
Home Loan hidden charges are back in limelight as the banks are finding newer ways to make more money out of you. Home Loan hidden charges is a grey area & there are no clear cut guidelines regarding same. In India, transparency takes a back seat and regulatory bodies are also turning blind eye towards Home Loan hidden charges. I receive lot of complaints from my readers so i decided to write a post on this topic. Like the amount charged there is no standard definition of home loan hidden charges as banks keep moulding the definitions as per their convenience. Lets go though each of these ... Read More
5 Ways to Create Second Income
These days most of my readers are sending queries on how to beat Recession. Salary Cut & Job Loss are newspaper headlines these days. The only solution to beat recession is to create Second Income. We agree that only thing constant in life is Change. Good times never lasts forever so as Bad times. The biggest mistake is to think otherwise i.e. Good time will last forever & Bad time will never come. Best financial planning is when we prepare for Bad Times during Good Times. Sounds quite philosophical but unfortunately it is harsh reality of today. Second Income is a back up during bad ... Read More
7 Tips to Save Money During Recession
Thanks to my wife for inspiring me to write this article on Tips to Save Money. It's Recession Time folks and Every Rupee saved is Rupee earned. To save money is not a Science but an Art. The irony of life is that once you reach certain lifestyle then you cannot compromise on same at any cost. With increase in disposable income, Lifestyle changes. Now you must be wondering how to save money without compromising much on lifestyle..Very much possible, let's go through following 7 Tips to save money during recession for rainy days Buy only what you need Impulse shopping put a major hole in ... Read More
Complete Guide on Wealth Tax
What is Wealth Tax? If i have to define Wealth Tax then i will say that its a direct tax on rich and the most ignored tax bucket by taxpayers in India :). Its basically a tax on the assets/wealth owned by you which are non-productive in nature. It is calculated for Indian Financial Year from 1st April to 31st March. The weird logic to levy this tax is to bring equality in society. Who is Liable to Pay Wealth Tax? Any individual or HUF (Hindu Undivided Family), whose cumulative wealth/assets exceeds 30 lacs is liable to pay wealth tax. Wealth Tax Return is filed separately from Income Tax ... Read More
Equity Investments – Not My Cup of Tea
Today i was reading an Article in one of Business Magazine regarding recent Market Rally. The Stock Market touched all time high. As an investment class, equity investments does not yield great returns even in long term. Reason being very few stocks participated in recent rally. The highlight of recent rally is that retail investors were missing from market. There was no euphoria as we saw in 2008. Investors deserted the market after Global Financial Crisis in 2008. I saw this superb video on You Tube explaining Global Financial Crisis of 2008. As a thumb rule, all the Financial Gurus suggest ... Read More
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