The most significant advantage of a joint home loan is the increase in your loan eligibility. Incomes of the individuals taking a joint home loan are combined to determine the eligibility and it results in a higher loan amount.
What is expected to change is the level of transparency in the retail and corporate lending market with banks expected to announce the rate changes as and when they happen and also display them at their respective websites.
Take care not to give in to the tempation of your current lifestyle, where everything is screaming 'buy now': a bit of careful indulgence and careful planning could hold you good for the rainy days ahead, when you can sit back and enjoy in peace!
This article is a sample case study stressing on the fact that one should look beyond introductory offers to arrive at the actual total loan cost to truly compare various home loan offers from banks. In this instance, it is clear that an introductory offer of 8 per cent for a year in a 20-year floating home loan rate need not necessarily be better than a 9.75 per cent or an 8.75 per cent floating home loan rate, with other conditions being constant.
Are there times when you feel really impatient about the fact that you need to wait several more years to free your home from debt? Well, here is a thought for you.
Planning your budget makes you aware of your financial situation and helps you create a contingency fund to tap into, when in need. Now how do you start preparing to put money consistently into this contingency fund? Read on...
How does compounding work? Well, when you save Rs 100 and get an annual interest of 10%, you will have Rs 110 at the end of one year. Due to compounding the next year you will get a 10% interest on Rs 110, which will then leave you with Rs 121. The next year, interest will be calculated on Rs 121 at 10% and so on. In time, these savings will grow exponentially.
In one of its recent announcements, the Reserve Bank of India announced that come August all online credit and debit transactions will need to go through one more step before they can be completed successfully.
Here are some helpful tips to follow in case you are in trouble.
Here are some pointers on what to do and what not to do in order to achieve this reality.
Take the good out of both and ensure that our life is to the fullest, with the best of both worlds.
Equity investment refers to the buying and holding of shares of stock on a stock market by individuals and funds in anticipation of income from dividends and capital gain as the value of the stock rises. Here are the top four factors in your 'points to remember' list:
Now, many of you must be wondering how your credit report will look like, how to go about setting any mistakes in the report right, how to maximise the benefits of being able to access your credit score and other such issues.
Here are some basic guidelines, which should keep you out of trouble. Rental laws again differ from state to state and hence these guidelines are restricted to some general laws.
While interest rate cuts by banks have been comparatively faster in being implemented, largely through the consistent efforts of the Reserve Bank of India, the builder community has been reluctant to follow suit with ready price cuts, even when the uncomfortable truth remains that there is no choice in the matter.
The most recent RBI effort could be the final push that would allow enough and more room for banks, builders and buyers to start moving towards change.
You need not worry about the long tenure as you can prepay the amount that is around 3-4 times your EMI periodically like once a quarter or when your year end bonus comes through.
Experts predict that the slowdown will last through the first half of 2009 in India, after which a slow revival will begin. As and when that happens, a lot will need to be done to adjust to the new circumstances.
It is time to take stock of your organisational skills, at least in your personal finance department.
Check out some basic truths about your hard earned money.
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