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When we borrow a home loan, we don’t know about the future aspects coming in our way. With the fluctuation in economic market that influence the interest rates and the EMI’s we have to think about the necessary aspects so that these fluctuation doesn’t affect our present financial situations. These fluctuations show us a next …
Owning a home is a lifetime achievement, a dream and a home loan is a successful key to make that dream come true. Borrowing a home loan is not only an important step in life to create a new asset that has the potential to generate good returns over time and also an influential way …
The huge deposit in Banks due to demonetization has led to reduced lending rates to the lowest in the last 6 to 8 years by the Banks/ NBFC’s. Leading the pack, few nationalized banks has reduced the home loan rates by 50 basis points (bps) to as low as 8.5 per cent (fixed). Even the …
It is always better to be prepared and do homework before entering a financial transaction or making a strong move towards a purchase. Before borrowing it is always advantageous to know more about the cost of borrowing. The concept of loan is very much straight forward. The borrowed amount has to be repaid within a …
In finance industry Amortization is referred in two ways. Both refers towards the regular payments for a period of time. In English, generally mortem means “to kill”. it wont be wrong if we say that amortization refers to killing off the loan. Amortization refers to the repayment of secured loans with a fixed repayment schedule …
It is important to check while finalizing the Bank/NBFC who is giving an affordable interest rate as per the requirement of the borrower. One has to be cautious in not only understanding the EMI amount but also the mode of its calculation. EMI can be calculated by Fixed Rate Method, Floating Rate Method and Reducing …
It is important to remember that the interest rates do not change themselves. There are always certain situations like economic information on consumer spending or may be business inventories. There is no one person or organization that set the standards for thousands of nationalized and private banks. There is no one person to determine what …
An interest is the amount due over the period for the amount lent, borrowed or deposited. An interest amount depends on the principal amount, rate, compounding frequency and the time for which the amount is being lent, deposited or borrowed. An extra amount that a lender charges over the principal amount is normally expressed as …