Loans Headlines

How to Choose the Best Loan When You Are In Bad Credit?

Rajesh Singla

  A bad credit score doesn’t mean that you cannot get any credit advances; it just means that there are ...

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Tips on how to get out of Debt

Rajesh Singla

  Even before the coins were invented, debt existed because the archaic trade involved a promised credit for the already ...

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How can you Release Equity on Your House to Avail Benefits?

Jonathan

House equity release helps the people over 55 years to release some tax free money from the actual value of ...

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How to fix Up default of Student Loan?

Rajesh Singla

Is your life taking a wrong turn just because you have stuck with the misfortunes caused by defaulted student loan? ...

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Facts to Consider Before Borrowing Private Student Loans

Rajesh Singla

Borrowing debt is undoubtedly a matter of great worries, especially if you are going to borrow it for your studies. Well, you certainly do not know what will happen next once you finish your studies; and investing upon predictions mean playing blind-folded.always research the matter properly before you take a grave step which can effect upon your life.

Things to consider When Buying a Car

Rajesh Singla

Most of us need a car to get around on a daily basis, so it is very important to evaluate all the aspects carefully before you decide to purchase a car. These simple steps will help you to make the right decisions when buying a new or used car.

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How Gold Loan scores over Personal Loan?

Rajesh Singla

Are you planning to take a personal loan? Whenever an urgent need for money falls on us what are the first few alternatives comes to our mind. I guess most of the people either approach their friends, relatives to borrow the money or approach a bank or financial institution like NBFC for taking loan. There is new loan facility developing fast in India i.e. Gold Loan. Have you tried consider it for taking a loan? Let us compare both the products to know which one scores over other on different attributes.

Favorable Opportunites for students with Education Loan getting extended up to 15 years

Rajesh Singla

Indian Banks' Association (IBA) in its revised circular for education loan has recommended extension for the repayment period depending on the loan amount as well as asked banks to clear a loan application file within a month. Earlier, students had to start repaying one year after completing the course or six months after getting a job, whichever was earlier. The loan repayment tenure was between five to seven years. This has been extended to 10 years for loans up to Rs7.5 lakh and 15 years for loans above Rs7.5 lakh. IBA had also recommended of creating a credit guarantee fund to tackle the problem of rising defaults in the loan category up to Rs4 lakh. "The recommendation (credit guarantee fund) is still pending with the government."

Honda comes with a new car in India

Rajesh Singla

Japanese car major Honda on Tuesday announced its foray into the highly competitive low-price compact car segment in India with the launch of its Brio model, priced between Rs 3.95 lakh and Rs 5.1 lakh. It will be interesting to see how they strategize the marketing for their new car. The company, which is present in India through a joint venture with the Siel group, Honda Siel Cars India, said it is also targeting revenues of Rs 112 crore this fiscal from the export of auto components from India. "With Brio, we will be entering a new segment for the first time in India. It has been designed and developed specially to meet the needs of customers here," HSCI president and CEO Takashi Nagai told reporters here. He said the company had promised to price it less than Rs 5 lakh and has been able to do this through cost-efficiency measures and high localization of components. However, the top-end variant of the vehicle will cost Rs 5.1 lakh. The Brio is at present about 80 per cent localised and over the next few months, it will reach 90 per cent. This has been key to the pricing strategy of the Brio. The Brio will compete with the likes of the Hyundai i10, Maruti WagonR and General Motors Chevrolet Beat, which are priced in a similar range. The Brio will be available in four variants. Nagai said the company expects a large chunk of the customers for the Brio to come from smaller cities, whereas demand in bigger cities is likely to be for existing models such as the City, Civic and Accord. Commenting on the development of the car, which is powered by a 1.2-litre petrol engine. The company also exports components for the City and Jazz to Malaysia and Indonesia.

No Prepayment charges on Floating Home Loans & Car Loans now

Rajesh Singla

Pre-payment penalty on floating rate loans, be it for a home or a car, is set to come to an end, bringing relief to lakhs of customers who are forced by banks to pay as high as 3% of the outstanding loan amount when they seek to end indebtedness. The levy of pre-payment penalty by banks has been criticised by consumer groups and the regulator, since it deprives an individual the choice to end the debt burden. Banks have been using it to prevent customers from shifting loyalty and manage their asset-liability gaps. "Banks must not recover pre-payment charges in floating rate loans. Floating rate loans pass on the interest rate risk from banks, which are much better placed to manage it. Banks only substitute interest rate risk with potential credit risk.," the Reserve Bank of India said in a statement on the proceedings of Banking Ombudsman Conference.

Essential things to check before buying Home

Rajesh Singla

On handing over the house to you, the builder needs to also give a `Completion Certificate’. This is issued by municipal authorities which establishes that the building complies with the approved plan. You would need this certificate for registration of your house and other government formalities.

Things to know before buying a Home

Rajesh Singla

What do the former customers of the lender have to say about the quality of service offered by the lender? Was the lender responsive to the customer requirements? Check the feedback given by the users on the customer review websites. It will give you an idea of what to expect from the lender, so that you won’t be taken in by nasty surprises.

Advantages of a pre-approved home loan

Rajesh Singla

Looking for a house? Do you have a budget in place, which will ensure that you look for a house that is well within your means? If not, start the process now, as buying a house is a big investment, having financial repercussions for years to come. How do you prepare a budget? Analyse your current financial situation to determine available resources. You need to answer questions such as, how much cash will you have at hand for a down payment? Also, you would want to know the quantum of housing loan you would be eligible for? After all, how many of us can buy a house today without a housing loan? The housing loan amount will be the critical factor determining your budget. Want to guage the actual quantum of loan the bank will provide you with? Look for ‘pre-approved’ housing loans.

Things one must know before Taking a Home Loan

Rajesh Singla

This is a special series on Home Loans where we try to cover all the aspects which are involved while taking Home Loan. If you are Buying a Home or planning to buy one soon, then this Chapters will surely help you decide how to go about your Home Loan. Given the boom in real estate in India, housing/home loan has become the most popular form of loan. This type of loan benefits the middle class the most in their quest of fulfilling their lifetime dream of owning a house. One should look into the details of a housing loan before deciding on going in for any of the numerous offers available.

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