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Finance Forum India

Share your thoughts on finance education, economic developments, capital markets movements or your professional experience in the field of finance.

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Rachita Kotian is an independent blogger and writing has been her passion for a long time. A literature major, she loves exploring the world of health, lifestyle, travel and finance. When she’s not writing, she’s most likely listening to music, cooking, surfing the web, or catching up on the latest flick.

5 Home-buying myths you should stop believing

Most of us dream of owning a home, do we not? Buying a home is a big investment. So, it is important to take a wise and well thought-out decision. Take the example of Gargi Sen. She wanted to buy a home, but it was turning out to be quite the nightmare for her. Even after a month of house-hunting, she was nowhere close to even making a deal. One day, she was talking to a colleague who had recently bought a house. The conversation was an eye-opener for Gargi. She realised that many things about home-buying that she had believed...
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Important car parts to check before you buy your used car

Turning 24 had its own special meaning for my not-so-little daughter. She had been working since the last 2 years, and was all set to buy her first car. Her dad had convinced her that a fancy car could wait a few years; instead she should buy a used car to begin with. Excited and chirpy she bounced into the room.” Dad, I want a small car; there’s no garage space in Delhi.” Her infectious enthusiasm had us scrambling to our feet and we were off to the car dealer’s garage cum showroom in no time. Once there, Manasvi hopped from...
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Poor Credit Score can mean Higher Interest on Used Car Loans. So Improve Your Credit Score first

When lenders are willing to lend money to borrowers, it is in their best interest to ensure that money is only given to those who can actually repay it back on time. So as an estimate of future repayment behavior, lenders look at past credit history of the applicants to see how they have been repaying their loans. A borrower who has not been regular with his repayments has higher chances of continuing this habit. Similarly, those who have a habit of repaying loans on time have a high chance of doing so in future too. So lenders look at credit...
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Personal loan v/s credit card: What are Indians using?

Rohit Mistry, 34, decided to renovate a portion of his house and change all the furniture. The entire project would cost him a few lakhs. He immediately applied for a personal loan of Rs 8 lakh. Within no time, his home was as good as new. Rohit preferred a personal loan over a credit card for a few reasons. These included the quick disbursement, easy availability, and flexible EMI options. Let us explore why you should choose a personal loan over a credit card: 1)    Interest rate: This is a significant factor. Unlike in a credit card, the rate of interest...
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Are you ready to take a home loan?

v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#default#VML);} Normal 0 false false false false EN-IN X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-IN;} Many factors determine how ready we are to take a home loan when we’re deciding on the same. Some of the most common factors summed up are listed below to assist one in preparing before they apply for a home loan to buy the ‘home of their dreams’: 1.    Do you have a good...
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Do's and Don'ts while applying for a home loan

 There are a few do’s and don'ts while opting to avail a loan to own that dream home for life that one can think of. We’re penning down some of the important factors that make for the decision while going for the home loan. Do’s: ·         Since most of the information is available online these days, it is good to do a thorough research and apply online.   ·         Stay put at the job you’re at, and don’t move interim the process.   ·         Continue to use the same insurance company.   ·         Ensure all your existing bank accounts are functional...
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A history of the practice of loans and interest

Normal 0 false false false EN-IN X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-IN;}   The practice of lending has been in existence since time immemorial, though the exact origin of loans remains cloudy. What is known though is that in earlier times, loans were in the form of barter. Over 5,000 years ago, precious stones and grains would be stored and traded in the Mesopotamian civilization, mainly temples. This is how the raw concept of banks...
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Planning to finance a Used Car? Here is how to assess your financial profile like lenders do

When you apply for a loan, lenders carry out an assessment of the loan application. Once the assessment is complete and it is found that you are suitable enough to be lent, only then is your loan approved and you get the money. But how do you know whether your application will be approved or rejected? There is no perfect answer to this question. But if you know the factors that lenders consider while evaluating your loan application, you will have a fair idea of the outcome. Isn’t it? So here is a small guide to help you self-assess whether your...
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Looking to buy Luxury Car on Budget? It’s easily possible!

You always wanted to buy that Mercedes or BMW that your boss drives. But you don’t have enough money to do that. At best, you can spend Rs 15-18 lac on cars and unfortunately, these luxury cars starts from Rs 25 lac onwards. Don’t be disheartened. Rs 15-18 lacs is not a small amount. Infact, it’s possible to purchase your luxury dream car in that budget. Surprised? Don’t be. It’s not only the small cars that come in the used car market. Even luxury cars are bought and sold in this market. And this is heaven for people like you who...
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How Salman's personal loan helped him become an FMSCI-licensed trainer

At times, you need luck to give wings to your dreams. At other times, you just need to be creative and innovative. This is exactly what happened with Salman, an avid biking enthusiast. It was his dream to be a trainer licensed by the Federation of Motor Sports Clubs of India (FMSCI). But the course and the certification were expensive. This is where his creativity, and a personal loan, helped him earn the success he deserved. Taking a personal loan The personal loan Salman was eligible for, sadly, was not enough to fund his dreams. But he did not give up....
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