I got a mail from a reader. He wanted to know whether it made sense to take the loan moratorium but continue his SIP. Or should he stop the SIP? No doubt the current situation has reduced many people’s ability…
Category: Loans
How EMI Moratorium increases Interest + Tenure? (Simple Examples)
RBI first announced a 3-month moratorium (March-May 2020) for loans. But with the lockdown continuing and people still facing problems with their finances and loan repayments, RBI recently extended loan moratorium by 3 more months (June - August 2020). If…
3 Month Extension of Loan Moratorium (6 Months: March to August 2020)
RBI has extended the loan EMI moratorium by another 3 months. That is, it is now applicable up to 31st August 2020. So with this extension, the total loan moratorium due to Covid19 in India is now 6 months. And…
High EMI Vs. Low EMI
Many people these days are facing cash crunches. And it’s easy for us to say that they shouldn’t take personal loans and they should have had emergency funds in place for such times. But the fact is that life has…
COVID-19 Personal Loans: Should you take it now & Prepay Later?
Many banks and NBFCs are looking to help out people whose cashflows have been disrupted due to the ongoing COVID-19 pandemic. And this help has been structured in the form of a personal loan with a new label - COVID…
Check Eligibility before Applying for Personal Loan during Unexpected Cash Crunch
More and more people are taking personal loans in India. And if I remember correctly, I read some report that said that the personal loans now form a major chunk of the overall number of loans being disbursed in India…
Personal Loan Or Credit Cards: Which to Use & When?
You need money and you don’t have money. And why do you need it? Assuming its for genuine reasons like medical expenses, temporary disruption in your cashflows, urgent unplanned travelling, etc., what are your options then? (Let’s skip borrowing money…
Why do you keep getting Pre-Approved Personal Loan Offers?
Sounds familiar? You are not alone. Like you, even I and millions of others are bombarded with unsolicited SMSs, emails and flashy pictures on net banking websites congratulating you on being among the chosen few who are just one step…
Prepayment Strategy if you have Multiple Personal Loans
Do you have multiple personal loans? Hmm…. And do you now feel a little bogged down with all those EMI payments every month? It’s natural to feel that way, even if you had been careful in choosing personal loans when…
Home Loan Tax Benefits – How much do You Really get?
In India, home loans come with tax benefits. You already know that. And there is no denying that these tax benefits make it all the more attractive to buy property using home loans. But time and again I have seen…
Choosing & Managing a Home Loan Wisely
I was talking to a friend recently who was planning to buy a house. No, I did not convince him to continue staying on rent. 🙂 His life, his decision and who am I to tell people about their big decisions.…
Short Term Personal Loans – To take or Not?
After the recent fall in stock markets, I have (once again) started getting emails asking whether it makes sense to take a loan and invest now. 🙂 This isn’t surprising. Whenever markets start falling or remain subdued for some time,…
How much Housing Loan should you take?
Most people need a housing loan to purchase their first house. And I know what you might be thinking when you saw the title of the post 'how much home loan should you take'. As much as possible or as…
Loan Free Life – Possible and Worth the Effort!
Who wouldn’t want to live a debt-free life? This image below aptly depicts what I would need thousands of words to explain 🙂 But let us be fair - at times, loans are unavoidable. You just have to take some…
Personal Loans – How to borrow if you Can’t Avoid?
A friend recently needed some money to spend (or maybe splurge) on his wedding. 🙂 I helped him a bit. But since his need was greater than what I could pitch in with, he went ahead and took a small…
