Thu, Dec 19, 2024
Home Loan EMI+SIP: One spends a substantial amount from their monthly income to repay equated monthly instalments (EMIs) of their home loan. Simultaneously, if they run an SIP investment, which is 10 per cent of the EMI amount, it can help recover the interest amount of the loan a great deal.
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Wed, Dec 18, 2024
Home Loan Calculations: The option of prepayment in a home loan can help one save a considerable amount if the option is used wisely. Prepayment can be in parts or a one-time lump sum. Either way, the interest amount and the tenure can be reduced.
Tue, Dec 17, 2024
Rs 55 lakh Home Loan vs Rs 55 lakh SIP investment: One can take a home loan to purchase a home, or they can start a SIP investment, generate a corpus, and use that money to buy a home with a huge down payment or in cash.
Thu, Sep 05, 2024
Personal Loan Calculator: Unlike home loans, which can stretch up to decades, lenders give personal loans for up to 5 years of duration. Personal loans don't have collateral, so they come at a higher rate compared to home loans or vehicle loans.
Fri, Aug 30, 2024
SIP investment vs Car Loan: If you are taking a Rs 15 lakh car loan for 7 years at 10 per cent annual interest rate, your estimated EMI will be Rs Rs 24,902, and estimated interest will be Rs 5,91,749.
Mon, Aug 26, 2024
Home Loan vs Mutual Fund SIP: If you take Rs 60 lakh home for 20 years at 9 per cent annual interest rate, your estimated equated monthly installment (EMI) is Rs 53,984, total estimated interest will be Rs 69,56,054, and the estimated repayment amount will be Rs 1,29,56,054.
Fri, Aug 23, 2024
SIP vs Car Loan EMI: Do you want to buy a car? Should you go for a loan, or plan purchase in advance and invest through SIP in a mutual fund? Know which can be a faster route
Wed, Aug 21, 2024
Personal Loan Calculator: Sometimes, we are in a situation when we can't take a home or a car loan; or to meet personal requirements, such as medical expenses, wedding, home renovation, emergencies, and vacations, we need to take a loan.
Mon, Aug 19, 2024
Home Loan Calculator: Since we take a home loan for a long duration, there is a high likelihood that we are paying a higher interest amount than the principal. In the initial years, the interest amount you pay is much higher than the principal.
Mon, Aug 05, 2024
If you are taking a Rs 50 lakh home loan for 20 years at a 9.50 per cent annual interest rate, your estimated EMI during that period will be Rs 46,607. With that EMI, your interest will be Rs 61,85,574 and the repayment will be Rs 1,11,85,574. It means the interest amount will be nearly Rs 12 lakh more than the principal amount. However, if you increase your EMI to Rs 49,992 a month, your interest amount will be reduced to Rs 49,48,436 and you will repay the loan in just 17 years.
Thu, Jun 20, 2024
SBI Car Loan Latest Interest Rates: A car is no longer just a style statement. It has become a necessity in most parts of India. From Tier-1 cities to small towns to hamlets, people use cars to save time and, in many cases, money.
Wed, Aug 09, 2023
Before availing a loan it’s important to plan your repayment and the EMI amount. This helps you in planning your monthly budget without disrupting the repayments.
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