NRI home loans: The general eligibility norms*

With scores of Indians leaving the country every year to work or settle abroad, the term ‘NRI’ (Non Resident Indian) has become an integral part of popular parlance. Every India wherever they are settled wishes to be connected to its roots. A home back in India is one asset that emanates a sense of belongingness. And buying a home mostly entails applying for a home loan as well. Eligibility norms...

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All About Home Loan Process

Owning a home isn’t just a keystone of wealth, it’s what gives us and our families, stability and emotional security. If you’re hesitant about buying a home because you feel that getting a home loan is a daunting task. Don’t worry! Applying for a home loan, is an incredibly simple process. If you take care of a few important details at the very beginning, securing a home loan is easy....

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Fixed vs Floating rate of interest – What suits you the best

A home purchase is probably the biggest financial decision and transaction in a person’s financial life. It is a decision that has an impact for many years to come. It is also a transaction that requires planning around your income outflow for many years to come. A home loan is a prolonged financial commitment that typically stretches for 20 to 30 years during which time, interest rates can change, depending...

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How to choose a home loan lender

Buying a dream home isn’t something you do every day. The same goes for your home loan. It’s a big financial decision, and will affect your wallet for a long time after the purchase is over. Which brings us to the matter of choosing the lending institution. How do you go about it? It is important to give it careful consideration. After all, there’s much more to a home loan...

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A fine balance between EMI amount and Home Loan Tenure

A home loan helps you realize your dream of having your own home. A home loan comes with its own financial commitment, in the form of EMI (Equated Monthly Installments) that has to be serviced by you diligently over the tenure of the loan. It is important that you strike a fine balance between your monthly EMI commitments and Loan Tenure. Now first, What is an EMI? EMI is a...

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Rent or buy a house – Which is the better option?

Should you rent a house or should you buy one? Is it better to pay EMI than pay rent? Well, the answer cannot be simply a ‘yes’ or a ‘no’; the argument continues and there is merit in both the views.  The choice would depend on a variety of factors unique to every person’s life. Here is a deeper look into both the options, with the objective of choosing the...

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Importance of CIBIL Score while availing home loan and how to improve CIBIL score

When you act responsibly with your finances and make your payments on time, your credibility, which is what the CIBIL Score is all about, will improve and so will your credit worthiness. Anyone who has purchased a home on a loan will advise you to check your CIBIL Score aka Credit Score even before you consider applying. This all-important CIBIL Score is simply a rating assigned to a loan applicant’s...

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Tax benefits of Availing a Home Loan

Buying a home is an expensive proposition. For a large chunk of the masses, it is not possible to buy a house for themselves without availing a home loan. A home loan suffices your primary need of credit to buy your dream home. But it also comes with a topping on tax benefits In this short article, we will discuss the major tax benefits of availing a home loan Tax...

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Joint Home Loan – Tax benefits and other advantages

Purchasing a house is a major financial decision. It requires large investment due to high property rates across leading cities in India. Higher property rates would mean higher loans but sometimes, single income is not enough to make one eligible for a higher amount that one requires. Under such conditions, a joint home loan is a suitable option which helps you to get higher credit/loan. In simple terms, it just...

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Company fixed deposits – An important part of your investment portfolio

Your portfolio should contain a diversified set of investments for optimal performance. While you would have invested in shares, mutual funds, bonds and bank fixed deposits, company deposits is an investment option that you may have overlooked. Here is why you should consider company deposits as well: Diversification: Fixed and safe returns in an investment portfolio play a key role in limiting portfolio risk. When you have predictable returns, you...

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