Which is better: home loan prepayment to reduce EMI or tenure?

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Paying home loan EMI’s month-after-month is a burden. How to reduce home loan EMI? By making loan ‘prepayment‘. What is prepayment? It is an extra payment made to ones home loan account in addition to the EMI. How prepayment helps? It reduces the loan outstanding faster. But while one is making the prepayment, bank will […]

How much money do I need to retire from job: How to Calculate?

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When I was 25, I was already dreaming about financial independence. On one side, my father was enjoying his job even when close to retirement, while I was considering it (retirement) at the outset itself. Read more about how to be financially independent. [Check at the bottom of this post to know, where to invest […]

What happens if personal loan is not paid in India?

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What happens if personal loan is not paid? Is there a punishment for non payment of personal loan? Will the defaulter go to jail straight away? There will be hooliganism displayed at the defaulters front door by the Banks? What are the bank loan recovery rules? A person who is under stress due to non-repayment of […]

Loan Prepayment Calculator: Saving Lakhs On Home Loan [Now]

Home Loan Prepayment Calculator

This home loan prepayment calculator gave me the inspiration to become debt free. Now, after years of painstaking focus and persistence, I am finally debt free. It is a different life. How I reached this stage? My home loan prepayment calculator made it possible. How? It all started in year 2012-13. While we were developing […]

Preparation for Home Loan Application

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At last, you’ve found a place that fulfils your idea of the perfect home? Now you will need preparation for home loan? What you need now are the funds to buy your home. Where it will come from? Home loan can help you with that. And now, it’s even easier to apply for a home […]

What to do when loan EMI is very high?

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What one can do when loan EMI is very high? High loan (EMI) always hangs like a heavy sword on the borrowers neck. The swing of the sword is locked by ones income from job. The larger is the loan (EMI) heavier will be its impact. But till the sword is not swinging there is […]

Habits of People with High Credit Score

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People do not realise it but keeping a high credit score will prove extremely useful when need arises. Bad credit score may lead to rejection of loan request when need is top priority. A good credit history may also prompt banks to offer one lower interest rates. But not many people has an immaculate credit […]

How to use Credit Card?

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If we have a credit card & we do not know how to use credit card it’s a problem. It is like not-knowing how to use a knife. To cook food use of knife is essential. But knife can also injure a person if not used properly. Similarly, improper usage of credit card can cause […]

Functions of RBI (Reserve Bank of India)

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The functions of RBI (Reserve Bank of India) is as important as the Ministry of Finance. RBI is not just a bank, it bank of banks. When I was a child I always wanted to open a bank account in Reserve Bank of India. The enormity and magnitude of its office building itself used to […]