3 Tips to Help You Close Your Home Loan Early
Want to Close Your Home Loan Early? Here 3 Smart Ways That Can Help You in Closing Your Home Loan Faster and Early.
Loan-to-Value (LTV) Ratio: Meaning, Importance and Calculation
Home loan is a secured loan that requires you pledge the property to be purchased/ constructed/ renovated/ extended as collateral with your lender. But you do not get the entire value of the asset pledged as a loan and this is where the LTV ratio comes in the picture. What is Loan-to-Value (LTV) Ratio in...
What are My Chances of Getting Personal Loan Approval
Lenders approve your personal loan application on the basis of various factors such as your credit score, age, income, repayment capacity, occupation and employer’s profile. You can predict the odds of getting a personal loan by seeing how well you measure up against its eligibility factors. Some of these factors are discussed here to help...
How Do Lenders Decide Personal Loan Amount
Banks and NBFCs usually offer personal loans from Rs 10,000 to Rs 40 lakhs. However, personal loan amount that a lender sanctions to an applicant primarily depends on his income and existing loan repayment obligations. Some lenders use Multiplier Method wherein they factor in applicant’s income to determine their eligible personal loan amount. Other lenders...
Debt Consolidation with Personal Loan
Whether it is a student loan, some unpaid credit card bills or a house loan you are close to defaulting on, most of us look to pay off the dues and get debt free. However, it often becomes very difficult to pay off these debts using only one’s salary. In such a case, many people […]
Personal Loan vs Education Loan: Which is Better for Funding Education Cost?
हिंदी में पढ़ें Quality education lays the foundation of a steady career and a better package. However, its ever-increasing cost has rendered it out of bounds for most people. As a result, most people have to finance their higher education through education loans from banks or NBFCs. However, those who cannot avail education loan due...
Best FD Interest Rates in India 2024
हिंदी में पढ़ें Currently, among all bank categories, North East Small finance Bank and Unity Small Finance Bank offer the best FD rates at 9% p.a., followed by Suryoday Small Finance Bank, which offers fixed deposits at 8.6% p.a., closely followed by Utkarsh Small Finance Bank offering FDs at 8.5% p.a. Shivalik Small Finance Bank...
Tax Saving Fixed Deposit
Tax-saving fixed deposit schemes qualify for tax deduction under Section 80C of Income Tax Act. As tax saving FDs have fixed interest rate, which remains unchanged throughout its tenure, it offers greater income certainty for those with low risk appetite. Tax saving FDs have a lock-in period of 5 years and therefore, cannot be withdrawn...
Hallmarked Gold, KDM Gold and 916 Gold – What is the Difference?
हिन्दी में पढ़ें The purity of gold has always been one of the greatest concerns for buyers in India. But with the advent of hallmarking by BIS in India, buyers are feeling more confident with their gold purchases. To ensure you are not cheated when purchasing physical gold (gold coins & Jewellery); it is suggested...
Gold Loan and Loan Against Property – Which One Should You Pick?
People when stuck in a financial emergency tend to apply for personal loans. These loans are tailor-made to support your sudden financial crunch. However, its high interest rate makes it quite stressful on the pocket. Moreover, what if you are not eligible for personal loan? Or what if the loan amount you need is much…