Loans Linked to External Benchmarks: How this will impact you

From October 1, 2019, RBI has made an external benchmark based interest rate mandatory for certain categories of loans. What does this mean? How will this impact you? Let us find out starting with the basics. What does an external benchmark based loan mean in simple terms? The interest rate on your home loan/car loan/personal…

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Home Loan Transfer Calculator: Base Rate To MCLR Switch

Use this calculator to check the benefits (if any) associated with switching your home loan. Either from one bank to another or from base rate to¬†MCLR (Marginal Cost of Funds based Lending Rate). This is an updated version of the¬†Home Loan Transfer Calculator (Mortgage Refinance)¬†with an ability to check benefits for (a) same EMI, lower…

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Understanding Loan EMI Calculation as a Monthly SIP Investment!

A simple way to understand a loan EMI calculation in terms of a lump sum investment and a monthly SIP is discussed in this post. ¬†This is applicable for all kinds of loans – home loan, car loan, personal loan etc. There is a close connection between investment mathematics and loan/mortgage mathematics. In fact, those…

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