Post Office Savings Schemes are very popular in small towns though these schemes have lost relevance in big cities. I remember “National Savings Certificate” popularly known as NSC was most preferred investment avenue for my parent’s generation. During those days not many financial instruments were available for investment cum Tax Savings. Secondly, the biggest plus point for Post office Savings Schemes is trust factor because of Govt of India backing. Despite have some of the Best Financial Products in the portfolio, it is not recommended to invest in Post Office Savings Schemes…Let’s find ... Read More
Why Home Loan Closure Adversely Impact CIBIL Score
As i mentioned in my earlier posts that Home Loan is a secured loan and it impacts your CIBIL Score positively i.e. after availaing Home Loan, your CIBIL Score will increase because of its secured nature. Contrary to popular belief, closure of Home Loan negatively impact CIBIL Score. Let's understand why Recently i cleared my Home Loan and i was very happy about this fact but this happiness was short lived. As i mentioned in one of my article Home Loan Closure - 5 Important Points that it is very imp to check that your Home Loan account is closed by lender in CIBIL Score database after Home ... Read More
How Credit Card Limit Help to Improve CIBIL Score?
As i mentioned in my previous posts that CIBIL Score is becoming increasingly important to avail any kind of debt. CIBIL Score less then 750 is fatal. Many readers requested me to write articles on How to improve CIBIL Score. This article is 1st in series on how to better your CIBIL Score. If you are carrying a Credit Card, First and foremost discipline is to pay credit card dues on time. Many times credit card provider offer to increase Credit Limit on Credit Card and we refuse. Reason, we think that current limit is sufficient for current needs. This is disastrous for CIBIL Score. Normally ... Read More
7 Ways to Avoid Debt Trap
The 2 Biggest Traps of Life are Marriage and Debt Trap :) Debt Trap is like a Chakravyuh, Its easy to enter but impossible to get out like Abhimanyu. Improper Financial Planning is responsible for falling into debt trap. There are few tips on how to avoid Debt Trap. 1. Avoid too Many Loans: As a thumb rule, EMI of all loans availed should not exceed 45% of take Home Salary / Net Income per month. If it exceeds this limit then we are inviting trouble for ourselves. If majority of loan portfolio comprises of unsecured loans like Car Loan, Personal Loan etc then it shows credit Hungary behavior ... Read More
Impact of Budget on Real Estate
The Budget 2013 is very disappointing for real estate sector. There will be negative impact of budget on real estate. Though Real Estate is in bad shape as of now and was expecting much more from Budget 2013 but there is no effort from FM to revive and boost the sector. I am listing down impact of Budget on Real Estate sector. 1. TDS @ 1% on all Property transactions above 50 Lacs: This proposal was made in last year's budget also but later rolled back due to strong opposition. The objective behind this proposal is to stop circulation of black money in property transactions. Half of the ... Read More
Retirement Planning – Non Conventional Way
Retirement Planning is most discussed but least understood topic in India. Until & Unless you have Government Job in hand, you have every reason to worry about your retirement. I will suggest that your Financial Advisor should be the last person in this world, whose advice you should follow regarding retirement planning. The Financial Advisor will prepare your retirement based on hypothesis and assumptions which does not hold true even after 3-5 years...The basic objective of your Financial Advisor is to create sense of fear in your mind else you will not listen to him. He will start with ... Read More
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