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Source: Live Mint In the nation’s ever evolving economic landscape, consistent and on time repayment of home loan Equated Monthly Instalment (EMI) holds immense value. It is imperative to make sure that the repayment of not only home loans but any other kind of loan is made on time and in seamless fashion to avoid…
Source: Live Mint Consumers have started their credit journeys at a significantly younger age with each passing generation, revealed an internal analysis by Paisabazaar. This analysis was based on the data of consumers who have checked their credit score from Paisabazaar over the years, along with a consumer survey. While consumers born in the 1970s…
Source: Live Mint For many homebuyers, taking a joint home loan can open the door to substantial savings. From enhanced loan eligibility to tax breaks and reduced interest rates, co-ownership, especially with a female co-borrower, can significantly lower the cost of homeownership. Read this | The home loan playbook: Expert tips to save time, stress,…
Source: Live Mint The Reserve Bank of India (RBI) has recently reduced the repo rate by 50 basis points. This gives the home loan borrowers a timely chance to recheck, replan and decide on their repayment strategies. In such a case lowering your Equated Monthly Instalments (EMIs) can immensely ease your financial burden and result…
Source: Live Mint Ever since the Reserve Bank of India’s (RBI) monetary policy committee on April 9 cut its repo rate by 25 basis points, a number of banks – mostly in the public sector – have slashed their repo linked lending rates (RLRR) on home loans. These banks which have reduced their RLRR are…
Source: Live Mint Remember, not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly impacting your take-home salary and tax outgo. According to chartered accountant Vijaykumar Puri, partner at VPRP & Co. Llp, the first critical step is understanding your salary structure. “The key is ensuring all allowances…
Source: Live Mint Joint home loans are increasingly becoming popular in India, especially among young couples and nuclear families looking to construct or purchase a new house. A joint home loan is a financial arrangement in which multiple individuals share the responsibility of loan repayment. This kind of arrangement has several advantages and disadvantages. This…
Source: Live Mint A credit score is an important indicator of your creditworthiness and loan repayment capacity. It also plays a crucial role in determining your home loan eligibility and the interest rates applicable to it Banks and financial institutions increasingly rely on an individual’s creditworthiness, repayment capacity, and financial integrity to mitigate the risks…
Source: Live Mint Due to the wave of global inflation, interest rates have remained relatively high, along with a significant increase in living costs over the past few years. This has prompted Indian homeowners to reconsider their long-term financial commitments. One powerful way to take control of your financial health and significantly reduce your overall…
Source: Live Mint A home loan is essential while buying a house as property prices have been on a steady rise. Home loans come with multiple options. The difference between ‘Pre-EMI’ and ‘Full EMI’ in home loans is a key metric that you should understand before you make a choice. Pre-EMI (Equated Monthly Instalments) is…
