Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
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.
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.
Reach fifth round for first time in 10 years
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.
A round-up of Tuesday's action in the Premier League.
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
rediffGURU T S Khurana answers readers' personal income tax queries.
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
You will lose out on discounts and have to pay a higher premium.
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.
'Can we give young India the tools to solve the problems the country or society faces and uplift the community?'
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.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'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.'
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.
'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.'
'We created loads of chances in our seven (Premier League) games but we have to step up.'
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.
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).
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.
All you need to do to figure this out is to get on to Microsoft Excel.
New borrowers will benefit if banks cut their MCLR. Older borrowers' EMIs will change only when their reset date arrives
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.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
Abhishek Agarwal takes a controversial view on how our dreams are being mortgaged by EMIs we keep paying month after month.
Whenever you take a loan, you have to pay interest on the borrowed amount. This interest is an expense. Higher the interest rate, higher the amount you pay towards interest. So you end up paying more towards the loan, thus making the purchase costly. Hence it is essential for you to reduce the amount you pay towards your EMI.
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
Keep in mind interest rate, tenure and additional charges if you exceed credit card limit
EMI Music India has entered into a licensing agreement with Warner Music India to market and distribute Warner repertoire in the country.
The actor returns to what he does best: act as a bhai.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
'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.'
With ICICI Bank recently offering to reduce the equated monthly instalments of existing customers for high tenure loans, many may like to exercise this option because it would reduce their burden for the time being. Also, with the rise in the interest rates in the last couple of years, many have found their monthly EMIs rising by over 15 per cent.
Issuers allow you to convert your credit card purchases to EMIs, but it comes with strings attached.
Get Ahead reader Sunil Agarwal tells you how a a low EMI can reduce your stress levels.
Even if you get a bit late in buying things you need, it is always better to avoid debt traps, advises Vishwajeet parashar
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