Loans and EMIs
Home, car, personal and card debt: what the EMI really costs and when to prepay.
Is no cost EMI really free? What ₹1.5 lakh actually costs
No. A no cost EMI usually cancels the interest with an upfront discount, but on a credit card you still pay 18% GST on that interest, and any processing fee with GST on it too. On a ₹1,50,000 laptop…
Loans and EMIsHow much car can I afford? 20/4/10 test at ₹20 lakh CTC
On the 20/4/10 rule, a ₹20 lakh CTC (about ₹1,29,800 a month in hand) supports a car of about ₹6.5 lakh on-road, and a ₹30 lakh CTC (about ₹1,81,400) supports one of about ₹9.1 lakh, with the loan at…
Loans and EMIsPre-EMI vs full EMI on a ₹60 lakh loan: the 3-year cost
On an under-construction flat, pre-EMI costs less each month while it is built, but it pays only interest on what the bank has disbursed, so the whole loan is still owed at possession and the 20-year…
Loans and EMIsPrepay home loan or invest? ₹5 lakh tested both ways
Prepay your home loan when its after-tax rate beats what the money would earn after tax, and invest when the money can stay invested seven years or more and is likely to earn more. In the new tax…
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