A Home is believed to be one single biggest asset for any middle-class family during a lifetime. The emotional value and memories attached to it are ‘Priceless'. As I keep highlighting in my posts that Home Insurance is one of the must have insurance covers. In layman terms, home insurance hedges the risk of any loss or damage to the structure of your home because of natural calamity, fire, etc. You may also opt to insure the valuables like jewelry, appliances, and other contents with this plan. Have you ever wondered about what is the true value of your home? Trust me, it is much more than ... Read More
Are You Eligible For A Loan with Lowest Interest Rate
Quite surprisingly Lowest Interest Rate is a key criterion for almost all the new and existing borrowers. It can be safely concluded that 2 out of 3 borrowers avail a loan from Lowest Interest Rate provider typically market leaders in the segment. The rest are not eligible due to various reasons thus settle with other loan providers. From last so many years you might be reading that you can get a loan at lower interest rate if your credit score rating is good. This was a plain lie as none of the lenders was willing to offer differential interest rate just based on the Credit or CIBIL Score. In ... Read More
MCLR Cut – 7 Myths and Misconceptions Among Home Loan Borrowers
"Sharp MCLR Cut brings relief to the home loan borrowers" read one of the news posts. On top of it, the senior management of the banks appealed existing home loan borrowers to shift to MCLR to take advantage of MCLR cut. I received large no of queries on my blog on how to take benefit of MCLR cut. In certain cases, wherein i suggested the readers that they will not be benefited immediately, i received some angry reactions :). The readers thought that i am trying to mislead them. But once they approached the bank and clarified the points shared by me, their apprehensions were gone :). Let me ... Read More
Important Points Related to Sale and Purchase of Property by NRIs
I receive a lot of queries on my blog from NRIs related to sale and purchase of property. I answer each and every query. The reason why I receive more queries from NRIs is because the rules and regulations are more complicated compared to resident Indian. There are multiple permutation and combination involved. Most of the times queries from NRIs provide me an idea for a new post on the blog :). Thanks for posting your queries. In this post, i will share important points related to sale and purchase of property by NRIs. The sale and purchase of property by NRIs is regulated under the FEMA ... Read More
Buy Property And Double Your Investment – Do You Really Believe
Are you planning to buy property? Buy property in a project A or project Z to double your investment in 18/24 months. I am not suggesting you buy property in these projects but sharing excerpts of a pamphlet on my doorstep. Coincidentally, the same day two readers of this blog posted a query wherein they were trapped in a similar scheme. I tried to find out more about these schemes and thought of sharing my findings with the readers of this blog. Firstly, let me ask honestly do you really think that someone can double your investment in just 18 months or 24 months. If the answer is NO then i ... Read More
Home Loan Conversion Fees – 7 Myths Every Borrower Should Know
Home Loan conversion fees is one of the mysteries for home loan borrowers. I receive multiple queries wherein borrowers paid Home Loan conversion fees multiple times but still their home loan interest rate is more than the interest rates offered to the new borrowers. I have covered this topic in my post, Why higher interest for existing home loan customers? The problem here is that existing borrowers have NO other benchmark to compare. I also agree that home loan interest rate offered to new borrowers should be the benchmark for existing borrowers. Let me share an interesting case in this ... Read More
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