EMI

Another option is to switch to another lender who is willing to refinance at a lower rate

When the loan agreement was submitted in the revision proceedings, it revealed the interest rate column, which should have mentioned fixed or floating, had been left blank

Following the RBI MPC's repo rate hike earlier this month, many banks like Bank of Baroda, Bank of India, and Punjab National Bank have also hiked their key lending rates

Maintain adequate allocation for equities in long-term portfolios for financial security

The deposit and lending rates are directly proportional to the repo rate, and they generally go up if the benchmark rate is hiked

Despite showing the maximum improvement since 2011, Mumbai was the least affordable city in India in 2022: Knight Frank

Make sure buying a house will not lead to compromises on other crucial financial goals

These include products like smartphones, wearables, large appliances, smart televisions, and washing machines

The fintech unicorn expects to process BNPL transactions worth Rs 5,000 crore this month as an increasing number of customers in small towns are buying products on EMI this festive season

Bengaluru's affordable housing market has become more costly due to the 50 bps hike in the repo rate by the RBI

There could also be a third scenario where the interest cost is added to the product price and then the higher price is converted into EMIs

If a person took a 20-year home loan of Rs 50 lakh in April 2019, their number of EMIs will now be 60 more than the original because of the recent repo rate hikes

If you don't have a surplus, opt for higher EMI rather than longer tenor

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Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

Move designed to support their working capital needs; Meta to bear applicable interest payable to the bank, and give it as upfront discount to advertiser

A 50-bps hike on a Rs 50 lakh loan of 20-year tenure would increase the EMI by Rs 1,545

Several banks have already raised their borrowing rates and some will again increase their rates after this hike by the central bank.

But lenders can impose restrictive conditions on prepayment and foreclosure

Here are four ways to deal with a rising EMI burden, all of which will, however, require hard negotiations with the lender