Modern property developers, in partnership with banks, provide a unique home loan feature where EMIs commence post-property possession. This deferred payment structure grants buyers financial flexibility. This arrangement aligns with buyers’ convenience and reduces the initial financial burden of EMI payment in addition to rent payment. But is this deferred home loan EMI offer is…
The Credit Utilization Ratio is a crucial aspect of credit scoring. It measures the percentage of available credit a person is using. It is calculated by dividing total credit card balances by the sum of credit limits. For instance, if someone has a credit limit of INR 100,000 and an outstanding balance of INR 30,000,…
A common misunderstanding between credit and debt is that they are often used interchangeably or considered synonymous. While they are closely related concepts, they have distinct meanings and implications. This article will use examples to explain the difference between credit and debt Misunderstandings about credit and debt Many people struggle to grasp the distinction between…
Recently a person told me that his credit card company is offering a higher credit limit to him. He asked about the benefits of a high credit limit on credit cards. He was doubtful whether a high limit is beneficial or otherwise. I think many people face a similar dilemma. Hence I thought to write…
The objective of this article is to emphasize the need for maintaining basic liquidity and solvency levels for a financially healthy company. We’ll learn about liquidy vs solvency from the eyes of a stock investor. We’ll look at the concept and financial metrics that will help to quantify and comprehend a company’s liquidity and solvency…
The purpose of this blog is to emphasize the necessity of leading a loan-free life. There are moments in life when availing home loan becomes unavoidable. But, is it good to repay the home loan early? In this article, we will read why prepayment of loans cannot be ignored. For quick answers, read the FAQs….
Summary: This guide highlights the emergency fund’s importance for middle-class financial security, recommending a six-month expense reserve with cash and insurance (life, medical, motor, property). It details building it via recurring deposits, storing it in liquid, low-risk options like savings accounts, and prioritizing debt-free status and investments only after the fund is set. Table of…
When you’ll Google the term “become debt free“, the search result will also display a query: “is it good to be debt free?“ This dichotomy related to debt has remained since ages. Why? For Banks, NBFC’s, government, and employers – loan (debt) strapped, EMI paying people are an asset. Hence they publicise debt as a…
![Home Construction Loan: What is The Process To Get Such Loans [India]](https://ourwealthinsights.com/wp-content/uploads/2013/08/Home-Construction-Loan-image.jpg)
Before this incident I never heard of a home construction loan. One of our colleague was constructing a home for himself. In this age of rapid urbanisation, he decided to construct a home, all by himself. He had set a lavish plan for himself. He was planning to construct a really nice home. We were…
There was a time in my life where I’d to spend 50% of my ‘take home salary’ on EMI for home loan. Though it was a conscious decision, but I had to live with it for almost 18 months. It was a debt trap for me. In the next phase, I paid back almost 35%…
Let me give you the answer straight away. There is no way one can build or improve credit score without debt. Though there is a small compromise possible. But I will disclose it at the end of this article. But before that allow me to share my concept about “credit score” first. I know, you started to…
What is BHIM UPI? BHIM stands for “Bharat Interface for Money”. How BHIM UPI works? UPI stands for “Unified Payment Interface”. BHIM UPI is a revolutionary payment system started by Government of India. BHIM UPI is basically a Mobile APP which can be used to send and received payment in seconds. Why its is revolutionary? Because of three…
