The growing population has increased the demand for housing, leading to a boom in the real estate sector. In addition to urban areas, apartments in planned communities offer a promising solution to this demand, providing optimism for the future. These apartments can be purchased through monthly installments provided by banks and are popular among those … Read more
Self-employed professionals need to know that professional loans are readily available for doctors, chartered accountants (CAs), and lawyers with increased professional responsibilities. Similar to personal loans, these loans are offered by banks to cover expenses for basic facilities and infrastructure for office maintenance. Self-employed individuals must submit audited financial income tax returns for the last … Read more
Before obtaining large loans from the bank or co-signing for someone else, you should realize the seriousness of the situation. When you co-sign a loan, you are legally responsible for repaying it. Under Section 126 of the Indian Contract Act 1872, the co-signer is equally liable for the loan. If the primary borrower encounters difficulties … Read more
Owning a home is a common desire. However, the expenses involved in purchasing a home, such as registration costs, stamp duty, and property tax, can be pretty high. Financial experts suggest buying the house in the wife’s name to reduce these costs. The Indian government is committed to promoting women’s participation in various fields and … Read more
The way people take out loans has evolved. Loans are now available for various purposes, making it easier to access funding. Previously, individuals had to visit multiple banks to secure a home loan. However, banks have recognized the demand for home loans and streamlined the process. With the growing number of people seeking car loans, … Read more
Several important factors should be considered before taking out a car loan. Interest Rate: Currently, banks offer car loan interest rates starting from 8.70 percent. However, these rates may vary based on loan tenure, credit score, and down payments. It’s essential to compare interest rates from multiple banks online rather than relying on a single … Read more
One crucial decision when choosing a home loan is between fixed and floating interest rates. Each type has pros and cons, and understanding the differences is key to making an informed decision. This knowledge empowers you to choose the best option for your financial situation. Fixed Interest Rate on Home Loans: A fixed interest rate, … Read more
The Modi government has implemented several welfare schemes, including the Vocational Education and Training Loan scheme. This scheme, a testament to the government’s commitment to the youth, provides financial assistance to unemployed individuals seeking vocational education. It covers a wide range of expenses, including training course fees, tuition, examinations, library and lab fees, book and … Read more
Today’s students prefer higher education to gain career-specific skills and better job opportunities. Higher education has become crucial for students as educational institutions incorporate new technologies and experiential learning methods. However, the escalating tuition fees have become a burden for many, especially those from poor and middle-class backgrounds. Many banks offer educational loans to help … Read more
Ways to Increase Loan Eligibility: Loans are more accessible now than before, with banks and non-banking financial companies (NBFCs) offering loans after a simple process. Some even claim to provide instant digital loans. However, before granting a loan, these institutions assess the applicant’s creditworthiness. Applications with high loan amounts and low credit scores are often … Read more