Should i Invest or Prepay Loan? is the classic dilemma faced by the borrowers. This catch 22 situation arises when a borrower receives a lump sum amount. The most common sources are an annual bonus, the maturity of deposits, a gift from parents/relatives or inheritance. Normally i don't suggest to prepay loan especially Home Loan from any amount received through inheritance or gifts from parents / relatives. The only exception is if you have signed proper gift deed or family settlement agreement to safeguard your financial interests. If you prepay loan from gifted/inherited money then it may ... Read More
Tips to Increase Home Loan Eligibility Amount
Home Loan Eligibility Amount is a nail-biting suspense during the home loan process. From buyer's perspective, it's some secret recipe or a sort of exam whose outcome is eagerly awaited. There are multiple factors which impact the Home Loan Eligibility Amount. Through my posts, i keep highlighting these factors which directly or indirectly impact the Home Loan Eligibility Amount. CIBIL Score is one such factor which i have covered in detail through my posts on CIBIL Score. In this post, we will discuss some tricks and tips through which you can increase the Home Loan Eligibility Amount. Though ... Read More
How Financial Institutions Kill CIBIL Score?
CIBIL reporting by financial institutions is one of the most discussed topics on my website. I never suggest my clients to default on loans/credit card/overdraft. As i keep highlighting that any default may lead to a major impact on CIBIL Score of the borrower. To avoid credit default, financial institutions urgently need Credit Counselors. Even in the case of a credit default, defaulter should be punished and penalized which is logical and reasonable. Moreover, punishment should be as per existing rules and regulations. Through this post, I am not justifying the default on credit availed by ... Read More
Loan Against Salary for Financial Emergency
Loan against Salary is one of the least exercised options during a financial emergency. In my previous post on the same subject, i discussed Loan against Insurance Policy. The objective is to share all the possible alternative sources of funding with my readers. I get disoriented when any of my readers is not able to raise funds at the time of urgent need or financial emergency. Due to the myopic view of Personal Finance, a person will never come to know that he can raise funds through existing resources / assets. Loan against Salary is one such option for salaried class which is least known ... Read More
Home Loan from Housing Finance Company
Home Loan from Housing Finance Company, Regular readers of my website must be confused. I always suggest my readers to avail Home Loan from banks like State Bank of India, ICICI Bank, Axis Bank etc. The main reason is benchmark rate for calculation of Interest Rate. On the service front, almost everyone is at par i.e. below average :). Home Loan of Housing Finance Company is linked to benchmark rate known as BPLR / RPLR / PLR whereas Home Loan of a bank is linked to Base Rate. Base Rate is more transparent & beneficial for a borrower in a long run. I explained it in my post, Floating Home ... Read More
Loan Against Insurance Policy
Loan against Insurance Policy is not so very common in India. One of the major reason is that the most of the policyholders are not aware of this option. Secondly, the penetration of insurance is very low in India. In fact, i believe that if we remove Income Tax benefits attached to the Insurance Policy then penetration will be negligible. Insurance Premium is either considered as a waste of money or is paid for investment purpose. Both, India psychic and Insurance industry are responsible for this sorry state of Insurance products. By now most of my readers know that i have traditional ... Read More
- « Previous Page
- 1
- 2
- 3
- 4
- 5
- 6
- …
- 8
- Next Page »