There are 18 types of charges you may have to pay on home loans. Do keep in mind all of these charges may not apply to every borrower; so before applying for a home loan know what are the fees you may have to pay on home loans. Also, these charges will vary across lenders…
The word ‘Margin’ has multiple meanings. In trading percentage of profit is known as margin. The amount we have deposited with the equity brokers is also called margin. When you approach a bank or NBFC for loans like home loans, education loans, personal loans, etc., they do not finance 100% of the value of the…
A home loan interest rate reset clause allows the lender to review the interest rate after a certain period, as per the occurrence of a scheduled reset date of the loan. A reset rate is the new interest rate that a borrower must pay effective from the scheduled reset date. The lender will provide details…
In banks, the markup is the value added to the cost of funds used for lending as Spread or mark-up broadly: profit. Banks are free to decide the mark-up or spread over the cost of funds. As per RBI guidelines, banks shall adopt the following broad components of spread: (i) Business strategy: The component shall…
EMI stands for Equated Monthly Installment for the loan you avail of from your bank or other lenders. Each installment of the loan repaid under EMI consists of the principal portion of the loan amount and the interest paid on the loan based on the tenure of the loan, and rate of interest. The principal…
In the past, it was a prevalent practice in certain Indian States wherein a deed of power of attorney, coupled with the sale agreement, was treated as concluding or confirming the sale. No sale deeds were registered for conveying the properties. However, in 2011, the Supreme Court, in the case of Suraj Lamp & Industries…
The Central Board of Direct Taxes (CBDT) on Tuesday extended the due date for filing income tax returns for the assessment year 2021-22 till March 15, 2022, and also extended the due date for other compliances of the report of audits for 2020-21 till 15 February 2022. The notification No 01/2022 dated 11.01.2022 said that…
The issue of the IX series of the Sovereign Gold Bonds (SGBs) scheme 2021-22 is open for subscription from January 10, 2022 – January 14, 2022.The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the…
RERA stands acronym for Real Estate Regulatory Authority came into existence as per the Real Estate (Regulation and Development) Act 2016. Every state and Union Territory must have its own regulator under RERA in tandem with the Centre’s regulations. According to the Ministry of Housing and Urban Affairs, 34 States/UTs have notified rules under RERA…
The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) was established, under Section 20 of the SARFAESI Act (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002). It is a government-owned company that operates a central registry that deals with the filing of the security interest of…