Prepayment Charge

Banks generally quote an ‘annualized’ interest rate, but remember that interest rates can be deceptive unless you figure out how they are defined. When you take a loan from a bank or a housing finance company, bank offers you only 80 to 90 per cent of the value of the property i.e., you have to […]

Refinance has become a common way of repaying existing debts and creating new ones. Refinancing in simple terms means replacing your existing loan, with a new one, under fresh terms and conditions. The new loan or refinance taken for the payment of earlier loan is always at lower interest rates so that the person can […]