Using mantras from the Bhagavad Gita, Vatsal Ramaiya explains how you can conquer your home loan debt and unlock a world of financial freedom and peace of mind.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
While most borrowers calculate the gain they stand to make from switching to a lower interest rate, they often fail to take into account all the costs.
The government should provide home loan up to 25 lakh at a lower interest rate of 5 per cent to the people of the middle class, a prominent realtors' body appealed to the government against the backdrop of soaring home prices. G Hari Babu, president of the National Real Estate Development Council (Naredco), in an online interaction with Business Standard, said that the middle class in India accounts for roughly 30 per cent of the total population and is dependent on rental accommodation.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
Experts say the move will make matters worse for buyers, reports Karan Choudhury.
'Consider your household's financial health and all your other goals.' 'Buying a house might seem like an urgent goal, but it is rarely the only one.'
Mortgage lender HDFC Ltd on Friday hiked its lending rate by 50 basis points hours after the Reserve Bank raised the benchmark interest rate to tame inflation. The move would increase EMIs for housing loans by the firm. "HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from October 1, 2022," the country's biggest housing finance company said in a statement.
'Marginal rates will definitely affect the consumer's decision in entering a new transaction, but in reality, they don't affect much because banks/financial institutions have come up with step-up EMIs: 50% of home loans which exceed 15 years in India are prepaid, within 7-8 years.' 'This doesn't happen anywhere in the world.'
A silly plot, long and winding narrative and mediocre acting makes EMI a torture to sit through. The only silver lining in this debale is Sanjay Dutt.
India's smartphone market grew by three per cent year-on-year (Y-o-Y) in volume in the third quarter (Q3) of calendar year 2024, while its value surged by 12 per cent Y-o-Y to reach an all-time record for a single quarter, according to a report by research firm Counterpoint. The value growth was driven by an ongoing premiumisation trend, while the increase in volume was driven by an earlier onset of the festival season compared to the previous year.
Don't opt for the moratorium unless critical, advises Charlie Lee, founder and CEO, True Balance.
The country's largest lender State Bank of India has raised its marginal cost of funds based lending rate by 10 basis points or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers. This is the second hike in a month raising the cost by 0.2 per cent with the two consecutive increases. The revision follows an off-cycle rate increase by the Reserve Bank earlier this month. The central bank hiked the repo rate -- at which it lends short term money to banks -- by 0.40 per cent to 4.40 per cent.
'We created loads of chances in our seven (Premier League) games but we have to step up.'
Beyond the handball incident, the Belgian champions were the better side on the night. Villa's World Cup-winning keeper Martinez was pressed into action early by Brugge, who had seven shots on target to the Premier League club's one, and made several key saves to keep his team in the game.
Dinamo Zagreb and Celtic played out a lifeless 0-0 draw in the Champions League on Tuesday, with Celtic keeper Kasper Schmeichel producing the match's memorable moment with a late save.
Stepping up the competition in the electric vehicle (EV) market, JSW MG Motor on Wednesday launched its electric crossover sport utility vehicle (SUV) Windsor with a new and 'aggressive' pricing model, an assured buyback plan, a lifetime battery warranty, and free public charging for one year. Under this new battery-as-a-service (BaaS) pricing model, customers can purchase the Windsor at a starting price of Rs 9.99 lakh (ex-showroom) and then pay a battery usage fee of Rs 3.5 per kilometre (km).
Under the scheme, customers can now make zero down payment, avail a six-month EMI holiday (only interest needs to be serviced monthly) and access up to 100 per cent on-road funding for a loan tenure of five years, Tata Motors said in a statement.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
A summary of Thursday's action in the Premier League.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
IMAGES from the Premier League matches played on Saturday.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
'Accidents are unpredictable, whether it's a mishap during Diwali, a fracture during travel, or a fall in the bathroom.'
'If the borrower can't repay the loan due to lack of income or losses from speculative activities, they risk defaulting on it.' 'This could lead to the bank seizing the property.'
You will lose out on discounts and have to pay a higher premium.
In a note to customers, the country's largest lender State Bank of India said, 'Interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period'. The accrued interest will be collected by the lender in the form of additional EMIs from those borrowers who opt for the three-month moratorium.
A round-up of Saturday's action in the English Premier League.
rediffGURU Sunil Lala answers your personal finance-related queries.
From the Sensex basket, Larsen & Toubro, Maruti, Reliance Industries, Nestle, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank and JSW Steel were among the major laggards. Bajaj Finance climbed nearly 1 per cent higher.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
IMAGES from the UEFA Champions League matches played on Wednesday
As much as 20 per cent of the gross merchandise value (GMV) of sales made on e-commerce platforms is being financed through the no-cost EMI route, up from 4-5 pc two years ago.
When you are under social, peer, parental, sibling, marital pressure to buy a house direct them to this article, says P V Subramanyam
Delhi-based Shubham Chakraborty, 32, a management graduate from XLRI, Jamshedpur, tells us how he fought anxiety and stress due to poor workplace management.
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