Factors to consider while deciding between personal loan and gold loan

For Indian families, gold is one of the most popular and safest means of investing and saving money for future. Due to this attachment, gold loans have gradually become a good alternative to personal loans for Indians. But personal loans also have their share of advantages and this is why  it often becomes difficult for people to decide which will be more useful for them at the time of need. If you are having the same confusion, go through these factors to decide whether you want to go for personal loan or gold loan:  Eligibility...

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Fixed Vs Reducing Balance Loan EMIs

Getting a loan is very easy these days. Banks offer different types of loans such as Personal Loan, Home Loan, and Car Loan to help you meet your diversified individual requirements. Not only getting a loan is easy, paying it back is also equally affordable. You can pay off your principal as well as interest component on the principal with the help of equated monthly installments (EMIs). When you apply for a loan and your loan application is approved, your bank may apply two methods of calculating interest payable on the principal amount; they...

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Follow These Rules While Taking a Loan

Do you have a job that you think spays you well but, you realise that it is not enough as there a lot of things that you can’t afford to buy? Well, it is a story of all our lives. This is where the banks and financial institutions benefit from and offer us loans to help us meet our ends. But, do these banks really help us or just helping themselves? If you have taken a home loan, car loan or a personal loan, the EMI of all these loans can’t be more than 50% of your income. The loan to income ratio is the total EMI divided by the net monthly...

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Tailormade Loans in the Market

Life has become an expensive affair, and credit lenders have found ways to lend you money for just about anything you need. No longer are loans available only for the purpose of education, a house or a car. Loans are available in all forms for a wide range of purposes. One of the most important life events are weddings that can cost quite a bit. Medical costs have also skyrocketed, and planned medical expenses can be met with the help of loans. With advancements in technology and the world of medicine, cosmetic surgery, implants, hair, body and...

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RBI Repo Rate: The Good, the Bad, and the Ugly

With the release of the minutes of the meeting held on December 6th and December 7th delivered by the Reserve Bank of India throws light on a couple of interesting insights into the decision  made by the Monetary Policy Committee (MPC) to not change the repo rate. It was a unanimous decision made by the 6 member team of the MPC which decided to keep the repo rate which comes under the Liquidity Adjustment Facility (LAF) unchanged which currently stands at 6.25%. Following this, the reverse repo rate also saw a dip in numbers which came down...

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Use Balance Transfer to Trim your Loan EMI

Do you possess a loan whose EMI has been going on for ages? Have you been too occupied earning money only to pay it all in loan installments? Have you given up on finding a way out for this vicious EMI circle? Then you surely need to go through the remaining article to know how to get out of this terrible cycle. Balance transfer is an effective tool to make you pay smaller EMIs and hence save money. What is balance transfer? Balance transfer is the process of paying off one loan by availing another loan at a cheaper rate and...

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Best Tax Benefits on Pre EMI

If you’re considering a home loan, you probably already know that you’ll be repaying it in the form of Equated Monthly Instalments (EMIs). There are two ways of paying off EMIs, Pre-EMI and Full-EMI.  Pre-EMI options make sense if: -      The home you’re investing in is still under construction. -      You wish to sell the flat/house/villa as soon as the construction is completed...

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