The Income Tax Act, 1961 provides tax benefits for assessees that have home loans. Typically a home loan is repaid to the bank/lender in monthly installments.
Only those who opted for hybrid loans in the past couple of years will remain unaffected.
Let not the smartness be confined only to your phone... Transfer it to borrowing too! Here's how
Home loan insurance covers the loan liability of the borrower.
If you are in your 20s, renting out an apartment and under pressure from parents and peers to buy that dream home, just make these solid arguments to tell them why it just doesn't make any sense!
The ex-Marine is on a mission to capture the Indian market for heavyweight bikes.
Every housing finance company, and every bank with a large housing finance exposure, will see loss of volumes in this quarter.
The Banking Codes and Services Board of India offers a free of cost credit counselling service to individuals who have taken home loans, personal loans, vehicle loan or incurred credit card debt up to a maximum limit of Rs 50 lakhs.
Pay EMI for the entire sum, even if it is disbursed in tranches.
Correct your friends the next time they try to scare you; offer them tips on how they can improve their credit scores if they are poor borrowers
Defaulting on the payment is a serious offence and one must avoid it at all cost. But if at all you default on one, here's how to handle the tricky situation.
If you default, it will affect your credit score and your career.
Most people taking a loan are not aware about what they would do in case they are unable to make the monthly payments towards the loan.
'You have come out with a package for the kisan.' 'You have a package for industry.' 'But has anyone addressed the issues concerning small traders?'
You need to especially focus on the clauses that affect the cash flows, such as interest rate and pre-payment charges.
To help you evaluate the two options, we list out the pros and cons of both sides. With different financial implications, the option that may suit you greatly depends on your financial needs. Read on to understand this.
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
The United States has said it wants Pakistan to implement UN curbs against three key financers who raised money for the Taliban and Haqqani network, a day after slapping sanctions on the leaders of these outfits.
'Times will be tough, but we will get by and by the grace of Lord Balaji.'
'He spoke about 20 jawans in Ladakh, but he couldn't even name China.' 'He said the world had seen what had been achieved, even though we Indians don't know because Modi has himself said that nothing had happened and nobody had come,' points out Aakar Patel.
India's Rishika Sunkara became a first round casualty in the Junior Girls' Singles category of the Australian Open Grand Slam tournament, going down in straight-sets to Japanese Emi Mutaguchi in Melbourne on Sunday.
Servicing two EMIs will substantially reduce tax benefits on second flat.
Home loan cover from the lender may not be the best option
It is important to set your goals from your investment so that your investment can work accurately for you. For example, one must know the time and amount of money that he / she will need in the future.
As part our series on dealing with the pink slip, we spoke to financial planner Sridhar Vetapalem on how to get your finances in order.
Some buy house on loan, while others save and then buy, so which option is better?
'The only place through which I can give an answer is through IPL even if I play for India. I want to face the fear and that's the only way to live life.'
By virtue of it being an unsecured loan, personal loans have a very high rate of interest attached to them.
In the personal arena we have all read stories of people have been caught cheating because of their status updates and friends list with some cases even leading to divorces due to this. To this list of areas in which the social media is having an impact please add your financial lives as well.
A 39-year-old bank executive from Mumbai went missing on September 5 evening.
There are umpteen cases where travel websites and airlines advertise tickets for unbelievably low prices, without mentioning taxes and other charges.
Important points to remember while going for a car loan and while prepaying the borrowed money to the lender.
Read the numbers carefully because no one can offer a credit card at zero cost or give a loan at a simple interest of 9%.
This rainy season, don't just prepare for storms but also make your finances rain-proof, says Amar Pandit.
When you find that you are in a situation where you will not be able to meet your loan obligations, running away from the lender is the last thing you should do.
There is no overnight solution and it requires plenty of patience and discipline to set it right
Former prime minister P V Narasimha Rao was keen on building a Ram Mandir at Ayodhya, but his attempt derailed after losing the elections, a senior aide has claimed.
The teaser home loan rate, the interest rate which is set artificially low for the initial period, could give a 'payment shock' to borrowers as the equated monthly installment (EMI) shot up on lenders charging regular interest rates, according to Fitch officials.
The 'DPD' indicates how many days a payment on a respective account has been delayed. Simply put, it's trouble for the borrower
Naveen Kukreja explains the finer points to keep in mind while planning for your retirement.
