Hi Kairav Shah, Could you please let me know, how did you compute the EMIs for the periods 15 years & 10 years for say RS. 10,00,000?. When I computed the same, I got a different amount than given in the article. But for the period 20 years, I got the same amount as given in the article. Thanks in advance.
While we take any loan we budget for repayments. But by increasing the interest rates by the Govt. this is proved once again the Govt may only squeeze the middle class to improve their financial position. Can Govt double the rebate on Income Tax for the repayments of Home Loans?????
RE:What is the fun of increasing interest rate for those who have taken loan already???
by LAGIDU on Apr 11, 2007 11:48 AM Permalink
nowhere in the vorld, has the intarast inkreesed by 3 parsent in a year eksept in banaana repabliks. kredit gos to michigan magician p chida.
It is we whu elected this poor quality govt. Due to various reasons we educated do not vote. And they get elected with free gifts given to the poor classes like sarees, bottles of whisky, money etc. We all know that but can't do anything about it because we don't vote. We educated often change our jobs, change our living plaves and hence we never have any voting IDs. Even those who live in a area for a longer time find their name missing from the voter's list. and above all this, if at all our name is there; we don't go out there and vote because we are all so tired of our regular routine, we take rest on that holiday....I can't blame our class and I too belong to this class.
Time to take action? Please suggest ways to correct this vicious circle...
Could you please tell me, 1. Is there any possibility of rise in the interest rates for Home loan.... 2. IS there any saturation point 3. Which option to choose (floating or fixed) 4. what is the reason RBI increasing the interest rates? 5. Which time is good for Prepayment.. Thanks, Pramod
Can anyone guide me that what to do before taking a loan? I hv some queries regarding home loan. I am putting up in noida. 1. Is it right time to take the home loan? 2. Is there any hope in reducing of home loan rate? 3. What should be my approach, shoule I try to pay down payment as much as possible or should take the home loan more? 4. Which bank would be best for me? 5. Before signing the loan what parameters I should keep in my mind?
RE:Some queries
by LAGIDU on Apr 09, 2007 10:37 PM Permalink
1. Take the lon after SBI givs its result. speshal skemes vil cum. 2. no hope of reduksan in rate. 3. take maksimam lon and spare ur savings to buy a plot in remote sabarban area of hyderabad or chennai at thro avay price. In 4 year time U can sel the plot and clos the home lon. I did it. 4. East or west, SBI is best. They dont peenalise for preklosar. 5. The rate may go to 16% maksimam. Be redy for it in 2 years.
In this case loans with no or miminum prepayment penalty clause would have helped a lot. One should compare loans available from all the major banks before signing the loan papers and you should shop not only for rate of interest but also facilities like pre-payment penalty, administrative changes etc because in the longer term (home loan is a longer term thing any ways) these subtle clauses can save you thousands of rupees. PowerMyLoan.com helps you in comparing different options by connecting you to major banks free of cost
RE:Read The Fine Print - PowerMyLoan.com
by nitin on Apr 09, 2007 04:44 PM Permalink
what is use yaar.. you are advertising your product....nothing use to us.. and everybody check physically with each and every bank before taking loan..... abt rate of interest.. your site will not help us in redusing our emi..it just give us options to with whom we want to ger FOOL
It's a murdereous action towards middle and the poor class. I feel ashamed voting this party into power as I voted for them. So far I have been paying an EMI of 8000 but now it is going to be much higher.. where do I get the additional to fund to offset the difference. People should start politicians as leprocy patients.. nobody should go for voting.. let them learn lessons.
This is a lesson to middle class for their brainless actions by voting to UPA, in which Communists are also a member. The Middle Class should realize a fact that the Congress OR Communists can do nothing for them. Keep going for 2 more years my dear fellow Middle classes...
RE:a lesson to Middle Class
by rayker rayker on Apr 09, 2007 11:50 AM Permalink
nothing much to do with UPA boss. its plain economics. they might have bungled in some palces, but not all. sadly our government officials are just politicians, not ecnomists, or thinkers. even PC is in the same category. why else do you hear him "challenge me in the court, im always mr. right" ?
RE:a lesson to Middle Class
by CHIVUKULA KISHORE on Apr 09, 2007 11:55 AM Permalink
DO you agree that PC is anty middle class / salaried group and pro industrialoist...
RE:a lesson to Middle Class
by raghava hn on Apr 09, 2007 01:26 PM Permalink
PC couldn't have done much, its a liberal economy, moreover there are much more people poorer than u who will vote for PC..
RE:a lesson to Middle Class
by Sanjib Chatterji on Apr 10, 2007 02:17 PM Permalink
And still we say "Economy is doing good?" Its all propaganda. If economics cannot help citizens, its of no good.
Read a msg calling Manmohan,P.C., and Montek Eco.geniuses. They sure are ,but from the point of view of Banks & Big Corporates. Have anybody ever seen these geniuses interacting with normal middle class Aam Admi's. They are always seen in the company of the big bankers and industrialists. Can't blame them ,cause all that they are hearing are accolades from people who are benifitting form the current"bleeding-off" of the middle class. It is Ns. Gandhi who should ask these jokers to get out of their "Ostrich" stance and ensure that something is done immediately to bring down the interest rates on housing loans as that is the only security that the Aam admi works for throughout their lifetime.
RE:Economic Geniuses
by Mohammed on Apr 10, 2007 11:44 AM Permalink
So what do you want.A poor farmer to be nominated as prime minister, another one as finance minister and another one as planning commission chief.
He is already a consultant with the govt. No matter how much money he has made cheating us, he managed 17.5 lakhs and even made money from his property by selling it. Great brains, Lallu style. The govt thrives because of such people ..
RE:Economic Geniuses
by nitin on Apr 09, 2007 01:11 PM Permalink
Dear friend i'm a consultant, im very much with the govt. in this issue..when the interest rates is lower people want to take maximum loan from the bank..then dont even bother abt the policies and they took loan equal to there monthly salary..(as per the RBI policy max 50% of the monthly salary is permissible)and if we regreat to do so they go to other bank and that way they manuplate with the bank... and when the rates goes high they went in to problem. the other thing is that you are asking govt. abt the rate increase but you forgot to take into account the prizes of the properties.. i have take a banglow 2 years back in banglore.. last week i have take its possession.. when i took it cost me 17.5 lac. and today it costs 52 lac. so in 2 years with higher rates i paid nearly 4 lac to bank and today if i repay loan i can get more than 35lac. with me sO WHY DONT WE BLAME UPA GOVT FOR THE RATE HIKE IN property market.
