A home loan is a financial service provided by banks and housing finance companies. It is one of the most significant debts you can take on. As such, it is incredibly crucial that you make informed decisions while taking on a home loan. Ensure that there is no space for any confusion or mistakes since
Category: Moneyguru
Is the Sukanya Samriddhi Yojana Better than PPF?
Thinking of investing in the PPF and fixed deposits for your little daughter’s education or marriage? The Sukanya Samriddhi Yojana (SSY) could be a better alternative. The scheme, which was launched in January as part of the Prime Minister’s Beti Bachao Beti Padhao initiative, was already eligible for deduction under Section 80C. The Budget has
Borrowers Beware, as The Bank is Always Right!!!!
The RBI guidelines on defaulters now allow banks to classify any defaulting borrower as non-cooperative and then a wilful defaulter With sweeping regulations being made by the Reserve Bank of India (RBI) on recovery of loans and non-performing assets (NPAs), the new mantra now seems to be “the Bank is always right”. Gone are the
How to Charge Fees from Your Clients?
“Life will always be to a large extent what we ourselves make it” – Samuel Smiles Can’t help but quote this. I firmly believe that, we will collect fees if we ask for it. We will ask for it if we are convinced we bring value to the relationship. And, we will get paid when the
Getting loan against property more cost-effective !!!!
Even if you are a meticulous saver, there may be times when your finances are strained and you need a little help to tide you over. Though borrowing from family or friends is a preferred option for many, if the amount you need is large, it may not be a good idea to stress their
How home loan borrower can benefit from tax deduction
The Income Tax Act provides a separate head for tax of ‘Income from House Property’ under Section 22 to Section 27. Interest paid or payable on money borrowed for the purchase, construction, repair, or reconstruction of a house is allowed as a deduction. In case of a self-occupied property treated as such, the maximum deduction
Cut Insurance Costs Without Compromising Cover
Home insurance is seen by many as a complex area and many householders play it save and stick with their existing provider even though a quick analysis of their policy would probably highlight inefficiencies. There are a number of traps that are easy to fall into when choosing the level of cover for the home
Enter Buy-to-let Investment Fully Aware of the Additional Costs
With Indian property prices remaining high in the big cities, buying their own home remains out of sight for many people with average earnings. The high demand for rental property in Indian cities such as Delhi and Mumbai therefore represents a good opportunity for investment. However, becoming a landlord is not a decision to be
Banks not ready to withdraw prepayment penalty on foreclosure
The Competition Commission has sent notices to at least 15 banks, NBFCs and IBA seeking explanation on why they penalise borrowers who choose to foreclose loans Indian banks have expressed concern over the intervention of the Competition Commission of India (CCI) on the home loan prepayment penalty issue as they fear that this would put