Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
Since, most banks are unlikely to approve the amount, you could be sanctioned the desired loan on a higher tenure of may be 22 or 25 years. This would result in a lower instalment, which would not strain you monthly outgo.
Rashmi Bansal Returns to Rediff.com! The author of bestsellers like Stay Hungry Stay Foolish and Connect the Dots explains why MBAs should be looked upon as long-term investments.
A peek outside your airplane window as you land in any Indian metropolis is confirmation of the fact that 26 per cent of Mumbai and an astounding 60 per cent of New Delhi lives in slums or substandard housing.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
'When the country is jobless, why should I pay through my nose to feed these people who want some perks in office?' 'Let them also join India's unemployed.' 'Let them also taste the bitter medicine of being jobless.'
It's important you keep the following points in mind as you set out to have your name plate on the wall.
If you decide to go for a step-up loan, select fixed rate option instead of floating rate option, as it will let you control your EMIs. Besides avoid over-borrowing on this kind of a loan, to prevent financial problems later on.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
Those just starting their careers should avoid adding to their liabilities, especially if they already have an education loan. They should think hard before taking a car or home loan.
Rediff reader Murali Krishnan Ambati, 47, from Bengaluru shares an interesting formula to save money.
'Initially, I was reluctant about being friends with him.' 'He was a star.' 'It took me a while to understand him, and when I did, I opened up to him and we started talking about this and that and whatnot.'
While planning for retirement, the key is to let your money be idle, says Amar Pandit.
Given that there are hundreds of players in the shadow banking space, it's hard to make a credible estimate of potential NPAs. That creates more scope for panic, says Devangshu Datta.
Twenty-six immovable properties worth Rs 101.45 crore, and bank balance totalling Rs 2.28 crore in 22 accounts have been attached provisionally under the Prevention of Money Laundering Act (PMLA) by the Lucknow zonal office of the agency, they said. The Greater Noida-headquartered Bike Bot taxi service is accused of scamming about Rs 3,000-Rs 4,000 crore from 2.25 lakh investors in multiple states including Uttar Pradesh, Madhya Pradesh, Rajasthan and Haryana.
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.
'This is a blip in the 100-year history of cinema.'
Start now, and sail through your tenure like a pro!
'Your faith in the system, and in the fact that you are a citizen of this country and have rights, starts eroding.'
A 43-year-old woman's SOS to UK Prime Minister Boris Johnson made the Indian embassy in London, the ministry of external affairs in New Delhi and the Delhi police swing into action and prevent her from killing herself.
Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
By consolidating borrowings, the total EMI burden and interest cost can be reduced.
With more and more youngsters preferring to shop online, the credit appetite has surged.
Stop indulging in these before it derails your financial future
The FIR was lodged at the Sector 20 police station on Thursday after the complainant, a Noida resident, alleged that her Amazon Prime account got hacked and the problem remains unresolved despite assurance from Amazon boss Jeff Bezos, an official statement said.
Are you a first-time home loan borrower? Here are a few tips that can help you feel at ease.
'The assumed linear correlation between forced lower yields, higher bank borrowing from the RBI, higher lending, and higher growth involves leaps of faith, each a step on the quicksand of false beliefs,' warns Debashis Basu.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
One of the reasons Dutt wants to go ahead and shoot for EMI is because of his bearded look. As for the other films, he just need to trim his beard for a different look.
In July 2013, RBI warned banks against sending unsolicited cards.
Changing your home loan provider to save on interest could actually mean you are losing money. Here's how.
Relationship problems? Let Love Guru help.
It is difficult for an NRI to get a loan in India, says personal finance expert Harsh Roongta.
Although growth picked up slightly across the world's main emerging markets on an average, rates of expansion remain subdued
The housing stock demand may increase further
It makes sense to let your head do the leading when you buy a car. Especially, since it is a depreciating asset and won't give you any returns.
Housing loan customers may have to repay part of their borrowings or suffer very high EMIs, as there is a scurry among banks to avoid bad debts following successive interest rate hikes in the last six months.
