Finance

Why Calculating Your Eligibility Plays a Vital Role Before Applying For a Home Loan? Know Here!

Most homebuyers in India have to rely on home loans in order to purchase houses. This is because real estate is quite expensive, and simply relying on savings is not possible. But there is nothing to worry about; there are a lot of home loan plans that a borrower can go through and pick one that suits them. However, before applying for a home loan, a borrower first needs to learn about the home loan eligibility criteria set by lenders. When financial institutions are evaluating a loan application, they take into account several factors based on which they take the final decision of either approving or rejecting it. These factors include the applicant’s age, income, employment history, credit score, location and type of the property that is being pledged as collateral, and so on. If you ar

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Finance

Getting a Home Loan? 5 Mistakes Applicants Must Avoid in 2022

Excited to buy a new home with the help of a house loan? Then make sure to avoid these 5 mistakes when applying for the loan to successfully finance your property purchase. Mistake 1: Not Reviewing Your Credit Report and Score When you apply for a house loan, the lender checks your credit report and score to determine your creditworthiness. Before that, consider checking them yourself and improving them if needed. If your credit report has any errors, request the credit bureau to rectify them. Then go for a home loan with a clean report for a quick approval. Also, see if your credit score is between 700 and 900. This will boost the chances of your loan approval since the lender will assume that you have a good repayment capacity. Plus you can get the best home loan interest rates in

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Finance

Mutual funds taxation: How mutual funds are taxed in India?

Mutual funds are among the favourite investment options for many retail investors in India. They are known for the benefits of diversification and their tax-friendly investment options that could provide greater returns than fixed deposits, especially if you come under the highest income tax bracket. When the interest you earn is fully taxed, the remaining 5.3% to 6.3% returns would not be so significant considering the inflation rate in India. So, how does income tax on mutual funds in India work? And is there an income tax on mutual fund redemption? Actually, there are two ways in which mutual funds provide returns to their investors — capital gain and dividends. And for both, the tax treatment is different. Taxation on dividend According to the Union Budget 2020 amendments, dividends

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Finance

How to evaluate returns from investments?

There are several asset classes to consider when investing. These include stocks, real estate, gold, fixed income securities, and more. In India, increasingly now, investors are focusing more on stocks either by directly investing in equity or by investing in mutual funds and Exchange Traded Funds (ETFs). However, be it any investment instrument, the sole purpose behind investments is the expected returns from it. People invest their money to fetch returns on it and to see it multiply in value over the years so that they can meet their financial goals and build wealth. So, it’s crucial to know how to evaluate the possible returns on a particular investment before putting your money towards it. In the investing world, this is termed as Return on Investment (ROI). How is ROI usually comput

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Finance

Why your 20s are not considered early to buy a Term Plan?

Life is unpredictable and term insurance plans protect your family against the uncertainties of life. While most of us understand that a term plan is necessary, many often forget the importance of taking life insurance early in their life. In your 20s, when you are just starting out on your adulthood, it might seem like an unfortunate event is far away. But life is uncertain and being well-insured can help you protect your loved ones financially. What is term insurance? A term life insurance is a policy that will help you keep your family financially safe, even in your absence. A term plan gives the beneficiary financial aid in case of an untimely expiration of the insured, during the term period. Benefits of starting early Life term insurances are often associated with people in thei

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Finance

Things to Do & Things to Avoid While Using a Home Loan EMI Calculator – Explained!

While home loans can help you buy your dream house, they can significantly affect your finances. A home loan EMI can consume a large part of your monthly income. Therefore, before you apply for home loan, you must check your affordability to avail a comfortable loan amount. An EMI calculator can help you do so. With an EMI calculator, you can check your affordability and find out your loan EMI and total cost of borrowing. What is a home loan EMI calculator? A home loan EMI calculator is an online tool that helps you calculate your EMI before applying for a loan. This tool is useful to calculate your affordability so that you can comfortably pay the loan you avail. To use a home loan calculator, you need to input your tenure, interest rate, and loan amount in the space provided or use the

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Finance

Important Features of Savings Bank Account That You Must Know

Savings accounts are an important element of your financial planning. They can help you save money, pay off debt, or even provide a bit of stability during emergencies. But saving has never been so easy! Savings accounts have evolved over the years to offer features that make them more versatile than ever before. If you're not sure about the features of savings accounts, then this blog is for you! Let us look at what they are and why they're important in today's financial landscape. Important Features of Savings Bank Account Rate of Interest: Banks provide you with a rate of interest on the money you deposit in a savings account. It simply implies that the more money you put in, the more money you get back in interest. However, savings account interest rates vary from ban

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Finance

All you need to know about Airtel Black combining mobile, DTH and internet bills

One of the major telecom service providers in India, i.e., Airtel is known for its effective services as well as amazing features. The company has launched its new plan named Airtel Black Plan in July this year. With the plan, the company aims to provide all-in-one services to its consumers. The plan is a combination of all the Airtel recharge and  bill payments and includes services like postpaid recharges, DTH, fibre connections into a single bill. The users can enjoy the services only if they take two or more services together. One of the attractive features of the plan is that consumers need not stick to the already available combination of the services and can choose their services manually. Talking about the selection of services, there are four different combinations of services tha

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Finance

Axis Credit Card: Statement, Payment & Offers

A famous name in the world of banking in India, Axis Bank offers customers a wide variety of products and services. With premium offerings  in the arena of credit cards, you get cards to suit your spending patterns with exclusive rewards and offers attached when you spend with your card. An Axis Credit Card assures you of a multitude of advantages, earning you rewards and saving you money. What is the Axis Bank Credit Card Statement? Whichever credit card you opt for, you get a free credit period in which to make purchases. The Axis Bank Credit Card comes with this period, at the end of which an Axis Bank Credit Card statement is generated. This essentially shows what you have spent on your Axis Cre Card in the free period, usually a month or more in duration. Your statement is like a cr

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Finance

Coinbase IPO’d recently and despite all the excitement about it, it looks like the debut was dismal

The most recent big debut was announced as the ground-breaking one and was supposed to be the biggest in history. To some, this even should have been the IPO that changes the history, and the dethronement of Airbnb as the leader was only the formality. And well, the optimist fire was quickly put out after the reality check. Airbnb’s debut from December 2020 remains the unbeaten champion, and we can only speculate, what will be the next contender. Coinbase actually did not manage to pass Facebook and Uber, which are still standing strong with their market cap values. Coinbase does not have much less, but this is still embarrassing, as both the companies were quite a let-down too. Let’s go back to the case of Airbnb, as it’s really unprecedented. Just a reminder - the company offers room o

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