Also build a contingency fund equal to 9 to 12 months of expenses.
Are you facing problems with housing loans? If you are a first time home loan borrower, here's how you can save some money on your home loan.
We asked you, dear readers to share your best tips on saving money. Irish Verma shares these tips.
In the last couple of years, interest rates have been rising consistently. Home loan borrowers -- both existing and potential -- are a baffled lot because of the sheer speed of the escalation.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
iPhone sales jumped from about 70,000-80,000 units a month to about 400,000 units after the schemes were rolled out.
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RBI might further cut rates by 50-75 basis points later.
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
While the MRP of the device is Rs 37,380, Samsung Galaxy Note II is being sold at much lower prices on e-commerce portals.
Politely decline to be prime minister, and hand the baton to someone else in the BJP -- like Sonia did to Manmohan Singh -- advises Krishna Prasad.
In the current scenario of rising interest rates it is vital that you understand important elements in the loan taking process, helping you make an informed decision when it comes to balancing your monthly budget and your loan repayment.
Existing and new customers will find it easier to manage or raise loans as banks start cutting rates.
Nokia has tied up with Citibank, HDFC Bank, Axis Bank, Standard Chartered, HSBC, ICICI Bank and SBI Cards for the EMI scheme and the offer will be available to consumers with credit cards from any of these banks.
Under the new provision, an EPF subscriber being a member of a co-operative or housing society with at least 10 members can withdraw up to 90 per cent from the fund for purchase of a dwelling house or flat or construction of a dwelling house and acquisition of site.
Now you can get 'cash back' for paying the monthly instalment on your home loan.
Two Get Ahead readers tells you how to cope with your home loan EMI blues. They have done it and believe others can do it too.
It is important to know that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act empower the bank to take possession of the property that is mortgaged to them, to recover the loan outstanding from the borrower.
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
Housing finance major HDFC and state-run Punjab National Bank on Tuesday announced up to 25 basis points increase in their lending interest rates, making their new and old loans expensive for consumers. The revised rates would be effective from March 1. Mortgage lender HDFC has increased its retail prime lending rate by 25 basis points to a minimum of 9.20 per cent.
Your solution to rising home loan EMIs can help somebody who is facing a similar problem.
Given here is an example explaining how the repayment of your home loan EMI reduces your loan amount during the repayment period leading up to the end of the loan tenure.
How do you cope with a home loan EMI that's becoming unmamanageable due to various reasons? Can going for a personal loan to pay home loan installments a good idea?
EMI card is a unique installment concept, wherein you have the option of paying a fixed amount every month subject to the purchase limit you enjoy.
Liverpool's slim Premier League title hopes faded further on Saturday when Michail Antonio's late header earned West Ham United a deserved point with a 2-2 draw.
In the last few years, zero per cent financing has become quite attractive as consumers aspire to buy the latest products, especially in categories such as mobile phones and television sets.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
Missing your EMI payment means you have to pay a fine. You also have to make time from your busy schedule to meet the collection agent.
Despite rising borrowing costs and home loan EMIs, borrowers have some good options to keep their rising EMIs in check.
All your home loan queries answered by our expert Harsh Roongta.
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Home loan borrowers are facing a tough time. Interest rates have hit the roof and it has become difficult for them to manage their household expenses. If you are successfully coping with your EMI payments, share your story with us.
P V Subramanyam takes a hard look at the pros and cons of both options.
SBI Cards & Payment Services reported mixed results for the January-March quarter (Q4) of FY24. While it managed to deliver strong earnings growth, it saw a perceptible decline in net interest margin (NIM) and suffered deteriorating asset quality. Taken together, the market was disappointed with the share dropping 3.5 per cent.
Harshala Chandorkar of CIBIL offers tips on how to keep your finances intact and shop smart this festive season.
The central government is worried about the rising home loan burden on consumers. On August 23, it wrote a letter to public sector banks, which account for over 50 per cent of the home loan market, to give borrowers the option to increase the tenure of their loans and not raise the EMIs.
Financial markets are under stress and require steps by the central bank for market stability and revival of economic growth, he said while announcing the decisions taken by the Monetary Policy Committee in Mumbai.
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