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Gone are the days when parents expected their children to become their old age stick and be a part of their lives in their old age. And also with changing goals and aspirations children also want to move out of their comfort zone to achieve big in their lives. But, to achieve this so-called “big” …
In real time situations we can come across the need of finance either for our kids for further studies or we have to arrange funds for the grand dream wedding of our daughter. The first question that comes in our mind is “from where to arrange for the money?” Though there are many options available …
Buying a home is a life time decision and needs a strong financial commitment. When the borrower decides to buy the property and finalize the loan lender, the main problem they face is the loan amount. The loan amount given to the borrower is decided on pre decided terms and conditions. The documents, financials, income …
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 …