Hi finacial gurus, please tell me whether my below financial thinking/plan is correct Aim : To serve my current financial needs of 1.5 lacs and future financial liability of 2 lacs successfully. condition 1: I have two lac rupees now .condition 2: I have immediate financial requirement of 1.5 lacs now for some personal use.condition […]

I’m planning for a home loan for about 30L. I currently fall under 30% tax bracket and my wife fall under 20% tax bracket. We are planning to co-own home and loan. From my calculations I’ll be saving atleast 10K each month from tax when home loan exempted from net taxable income. If I do […]

Hi All, I have taken 30,71,000 home loan from SBI for a tenure of 20 years. Interest rate is 8 % 1st year, 9% for 2nd and 3rd year and then floating. SBI has included 18 months of Moratorium period since property will be ready by then, and they will charge only interest part and […]

  Hi Manish & All,   I would like to know comment from all on below thought regarding homeloan.    I have always thought that it is always beneficail to pay upfront as much money as you have and take lesser home loan amount.    However looking closely into the numbers and calculation It seems […]

The risks of teaser home loan rates are well known. However if I plan to pre-pay the loan within the teaser-loan-duration, isn’t teaser loan a win-win situation? Or does SBI disallow prepayment in the teaser duration?

Hi,  I am Planning to take Home Loan from my Dad. Now i wanted to ask following questions 1.) what all documentation i need to do as part of that and content of those documentation 2.) Every Year if i have to claim Home Loan Interest Benefit what documents i have to produce at the […]

Hi,  I am Nilesh Jain from Bangalore.  I have a Home Loan from HDFC bank and my query is  Recently i did some prepayment towards my principal amount and according to HDFC they charged me simple Interest on the Amount i paid.  I wanted to know is charging Simple INterest is correct as now according […]

Hi Manish: I had taken a housing loan from HDFC for 7 lacs @ 8.25% in 2006 for 180 months with an EMI of 6694 per month for a 20 year old property. I have got a letter from HDFC stating my home loan tenure has gone beyond normal tenure. Following are the reasons sighted […]

fm annouced home loan interest subsidy increase limit upto loan 15 lacs for upto 25lacs cost of house. i like to know 1.is this loan interest subsidy  automatic for all eligible loan from the recognised institutes/banks, or it requires applying individully for the same? 2.is it applicable for whole tenure of the loan?  

  Can you direct me to some good site which can give me competitive home loan rates in india. Site which doesn’t pimp a particular bank( ex : bankbazaar pimping HDFC)