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Welcome to FundooMoney, your 24X7 buddy for all your money matters. A home loan rate cut is welcome news for all borrowers. In a moment, we will tell you the four things you must do besides celebrating when there is a cut in your home loan rate. Now, here are the four things you must do after a...
There are many advantages of prepaying your home loan. For instance, by doing so, you can free yourself from a substantial financial obligation and re-direct the money towards investments for major future needs be it child’s higher education or your retirement. But before you do that how...
For long, one of the additional attractions of taking a home loan in India have been the tax deductions, be it for principal repayment under Section 80C of up to Rs 1.5 lakh every year or for interest payment under Section 24 of upto Rs 2 lakh p.a. But what happens to these deductions if you pre...
The longer you take to repay your home loan, more interest you pay. That’s why it is always a smart idea to prepay the home loan before the end of its tenure. If you are wondering how to go about home loan prepayment, here is a five step action plan. Avoid prepayment penalty You need to av...
A home loan rate cut is welcome news for all borrowers because it means that they have to pay lesser interest on their home loan. So, what do you do when there is a cut in the interest rate for your home loan? We recommend that you take four steps. They will help you drive home the advanta...
Banks and other financial institutions keep sending you mails and make phone calls about lower home loan rates for your home loan. Who doesn’t want a lower home loan EMI? But the question is should you refinance your home loan or, as people would term it do a balance transfer of your home loan...
Welcome to FundooMoney, your 24X7 buddy on all your money matters! The longer you take to repay your home loan, more interest you pay. That’s why it is always a smart idea to prepay it before the end of the home loan tenure. Wondering how to go about home loan prepayment? We will give you a five s...
Welcome to FundooMoney, your 24X7 buddy on all your money matters! By prepaying your home loan, you can free yourself from a substantial financial obligation and re-direct the money towards investments for major future needs be it child’s higher education or your retirement. But before you d...
If present home loan EMI is a major financial burden for you, it's time for a home loan balance transfer. Shift your home loan to another lending institution through a home loan balance transfer. Some key things to keep in mindWelcome to FundooMoney, your 24X7 buddy on all your money matters. Banks ...
When you prepay your home loan, it has obvious implications on the tax deductions you get for principal repayment and interest payment. Here is what happens on home loan prepayment.Lower tax deduction for principal repaymentYou get annual tax deductions of upto Rs 1.5 lakh for principal repayment un...
Welcome to FundooMoney, your 24X7 buddy on all your money matters. Banks and other financial institutions keep sending you mails and make phone calls about lower home loan rates for your home loan. The question is, should you refinance your home loan? We provide the answers but in just a while.Who d...
When your home loan equated monthly instalments (EMI) increases thanks to an increase in the home loan rate, you might just want to accommodate it in your monthly budget. However, if there are sustained increases in home loan interest rates over time, you will need to do much more. Your home budg...
Congratulations! You have paid the last equated monthly instalment (EMI) of your home loan. You must be heaving a sigh of relief that the monthly repayment obligation is over at last. But wait! Before you start celebrating, you need to take some important steps after the end of the last EMI. Jus...
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