If you set aside a separate corpus for discretionary expenses like holidays, you are more likely to ensure you don’t overspend.
Typically, a bank’s advice appeared to be driven by the quantum of commissions earned rather than requirements of the customer.
Given the inertia on the part of banks, it makes sense for borrowers to negotiate a better rate for their housing loans.
It is often tempting to walk into the branch of a bank that has just advertised that it has cut its lending rates and that it is among the lowest in the industry.
It is important to check the company background and business it is in. One should invest in FDs of companies where the risk is diversified.
With discounts and deals aplenty this festive season, ET tells you how to safeguard yourself from overspending and not get carried away.
If your EMIs gobble up too much of your income, other critical financial goals, like saving for retirement, might get impacted.
If you are both fashion and financially conscious, you’ll find that taking jewellery on rent can work to your advantage.
However, in a long-term loan, the interest outgo is too high. In a 10-year loan at 10 per cent, the interest paid is 59 per cent of the borrowed amount.
A significant rise in medical inflation has seen health insurance cos offering very high value covers. However, you may not really need them.
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