Charges Imposed by Banks, HFCS, Nbfcs While Availing a Home Loan

Average middle-class Indian citizens and salaried individuals dream of living in their own homes. Home loans provide the necessary financial assistance to avail such residential properties. You can avail as much as 75%-80% of the cost of your dream house as a home loan provided you fulfill the eligibility criteria and follow up on the required documentation. Home loans look lucrative but home loan charges are inclusive of a lot more. Here is a list of a few hidden home loan fees and charges that are included in a home…

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How to Pay Income Tax on Fixed Deposit?

Fixed deposits are the most popular tools of investment. FDs offer a viable source of income in the shifting winds of the economic climate. Though investors can completely exploit the benefits stated under Income Tax Act 80 C through fixed deposits, the interest earned on income is taxable. Devised below is a compilation of how the income tax on income earned from fixed deposits can be calculated and paid. What are fixed deposits? Fixed deposits are deposits made by an investor with a bank or NBFC for a stipulated period.…

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7 Types Of Personal Loans In India That You Can Apply Today

In today’s scenario in India, a large number of people apply for personal loans. It is because a personal loan is the best financial tool to generate funds for many needs. Yes, you can easily raise funds to cover an emergency, making a large purchase, marriage expenses, debt consolidation, home renovations and more. What’s more, the easy application procedures equipped with quick approval, minimal eligibility and documentation along with faster disbursement makes it favourable. The higher loan amount of up to Rs.25 lakh payable between 12 and 60 months makes…

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Which FD Schemes Provide Highest Interest Rates in India 2020?

The Indian economy is likely to experience recession by the financial year 2020 along with the rest of the world, as predicted by the International Monetary Fund. With quarterly growth reports at 4.5% between June-September, lowest in six years, the RBI has implemented five successive repo-rate cuts in the year of 2019 to revive the growth rate of the country, currently standing at 5.15%. Such repo rate cuts are known to have a direct effect on the fixed deposit schemes under the new repo-linked regime, wherein total interest returns are…

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Know the Eligibility Criteria for PM Awas Yojana 2020 Scheme

Pradhan Mantri Awas Yojana (PMAY) is a Government of India initiative launched in the year 2015. PMAY is targeted to provide the rural and urban poor with affordable housing opportunities. With the objective to provide affordable housing for all, finances are provided to candidates that meet the eligibility criteria as specified by the Indian government.  Beneficiaries meeting the Pradhan Mantri Awas Yojana eligibility criteria can only avail the benefits and acquire advances for their first-time purchase of a house. According to data published by the Ministry of Housing and Urban…

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Why You Should Calculate Personal Loan EMI in Advance?

Whether you want to make an expensive home purchase, wish to renovate your home, or go on an exotic vacation, personal loans come handy to cover the immediate funds’ requirement for such short term expenses. However, a lot of borrowers feel clueless about the basic questions related to personal loans such as how much the loan would cost them, how long they need to pay the EMIs, and so on. If you’re also facing a similar dilemma, an EMI calculator can be extremely useful to help you find exactly how…

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How Reverse Mortgage Works? Know Facts!

The Indian financial market was introduced to the reverse mortgage loan (RML) in 2007, allowing pensioners older than 60 years of age secure a steady stream of income to pay for their daily expenses. It allows an individual to borrow from their home’s equity without paying any mortgage payments. It is a great option for seniors who own a house; RMLs usually disburse 40% to 50% or a residential property’s market value, which can accumulate to a significant amount and compare with other feature-rich secured credits like a loan against…

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Tips to Get a Credit Card Online

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As of December 2018, the Reserve Bank of India has already issued 44.2 million credit cards across India, which is an 8.7 million addition of active credit accounts from its previous year. This indicates the rising demand for credit cards in Indian financial system. However, how to get a credit card is still a question that many individuals are still trying to figure out. To answer this, candidates can apply for a credit card via online or offline mode. The online mode has gained more recognition in recent times because…

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