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Don’t we all want to invest our money and get the maximum reward out of it. So the next important question which arises is ‘How’? Not everyone understands what Investing or asset management is and what would suit them best. Let’s get a brief idea about the different types of investments and how they fall …
There are various tax deduction and benefits on education loan or home loan, however, there are hardly any tax deduction or exemption allowed on personal loans. Deduction on interest expense of personal loan are available in certain circumstances but they depend on the purpose for which the loan has been availed. Ways to claim tax …
Factoring acts as an instrument to obtain quick access to short-term financing and reduce risks related to payment delays and defaults by buyers. Here the seller sells its receivables to a ‘Factor’ (financial institution) at a discounted rate. Once the sale is done, the ownership of the receivables is immediately transferred to the factor. After …
An allowance is a financial benefit of a fixed amount of money provided by an employer to meet a particular type of expenditure over and above regular salary. Allowances are regarded as part of the salary and are taxable, except for those under exemptions under various sections of the Income Tax Act. Based on the …
Processing fees is the most initial fee charged, which forwards the costs to the borrowers for their documentation, appraisals, employment and credit history, or any other information necessary for the lender’s underwriting department. Along with the processing fees, home loans come with several other fees, charges and penalties. Not all banks levy all the charges …
Home loan balance transfer is when you transfer your home loan amount from the existing bank to another new bank. This is usually done to avail better service and lower interest rates from the bank which would be willing to takeover the home loan. It is also known as ‘Refinancing and Home Loan Take Over’. …
Many loan seekers these days choose Instant Loan over traditional personal loans. The financial world is going through a rapid change. Bank processes which were tedious and time taking are readily available and paperless. The ATMs and online banking, has made the queuing for deposit and withdrawal vanish. Now getting a loan is quick, pre-approved, …