Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts
Sep 7, 2008
Financial Services of India
Avdhoot Investment offers Best Financial Services of India sitiuated at Ahmedabad for Personal Indiavidual/ Corporate Finance.For more Detail Visit Avdhoot Investment
Sep 2, 2008
Financial Planning in India
Avdhoot Investment offers best Financial Planning at Ahmedabad. Contact us for your Investment Planning Financial Planning or Insurance Planning st sameer.lic@gmail.com or Visit our Website at Avdhoot Investment We know better your financial Requirement better.
Aug 20, 2008
Savings bonds can be collateral: FM
NEW DELHI: Indian savings bonds could now be used as collateral for obtaining loans from banks, the finance ministry said late on Tuesday.
The scheme is applicable for 7 percent Savings Bonds issued in 2002, 6.5 percent Savings Bonds issued 2003 and for 8 percent Savings Bonds issued in 2003, it said.
Savings bonds were issued by the government in those years as a saving avenue for officials who took voluntary retirement or retired at the time. for full story click
The scheme is applicable for 7 percent Savings Bonds issued in 2002, 6.5 percent Savings Bonds issued 2003 and for 8 percent Savings Bonds issued in 2003, it said.
Savings bonds were issued by the government in those years as a saving avenue for officials who took voluntary retirement or retired at the time. for full story click
Aug 8, 2008
Borrow Rs25 lakh home loan, repay Rs1 crore
If the current interest rates stay, you might end up shelling out more than Rs1 crore to pay off a Rs25 lakh home loan. How? Read on.
Six months is a long time, especially if you happened to take a home loan back then.
Banks were charging a floating interest rate of 11% on their home loans. The equated monthly instalment (EMI) on a 20-year loan (or 240 months) of Rs25 lakh would have worked out to Rs25,805 a month.
Around one-month back, banks raised the interest rate on floating rate home loans to 11.5% and have now raised it by another 0.75% to 12.25%.
Last time, hike in interest rates were not accompanied by an increase in EMI. Banks did the smarter thing and increased the tenure of the loan. The remaining tenure of the loan went up from 240 to 269 months.
If banks were to follow the same strategy now and increase the tenure of the loan, instead of increasing the EMI, the remaining tenure of the loan would go up to 394 months. Add to this the six months of EMI you have already paid, and you are looking at a total tenure of 400 months. If you keep paying an EMI of Rs25,805 for a period of 400 months, you would have paid Rs1.03 crore (Rs25,805 x 400 months) by the end of it.
However, the bigger question is will banks allow tenures to shoot up to 400 months? crore
How it will hurt you
Principal Rs 25 lakh
Initial rate 11%
Tenure 240 months
Initial EMI Rs 25,804
Principal repaid Rs 14,707
in first 5 months
Principal left Rs 24.85 lakh
Rate after 5 months 11.5%
Remaining tenure if 269 months
EMI remains same
Increase in tenure 35 months
at the same EMI
Principal repaid in Rs 4,027
the 6th month
Principal repaid in Rs 1,8734
first six months
Principal left Rs 24.81 lakh
Rate after 6 months 12.25%
Remaining tenure if 393.5 months
EMI remains same
Increase in tenure 159 months
Extra money paid to Rs41 lakh
service the loan (Rs 25,804 x 159)
Total EMI to Rs1.01
be paid crore
Avdhoot Investment
Six months is a long time, especially if you happened to take a home loan back then.
Banks were charging a floating interest rate of 11% on their home loans. The equated monthly instalment (EMI) on a 20-year loan (or 240 months) of Rs25 lakh would have worked out to Rs25,805 a month.
Around one-month back, banks raised the interest rate on floating rate home loans to 11.5% and have now raised it by another 0.75% to 12.25%.
Last time, hike in interest rates were not accompanied by an increase in EMI. Banks did the smarter thing and increased the tenure of the loan. The remaining tenure of the loan went up from 240 to 269 months.
If banks were to follow the same strategy now and increase the tenure of the loan, instead of increasing the EMI, the remaining tenure of the loan would go up to 394 months. Add to this the six months of EMI you have already paid, and you are looking at a total tenure of 400 months. If you keep paying an EMI of Rs25,805 for a period of 400 months, you would have paid Rs1.03 crore (Rs25,805 x 400 months) by the end of it.
However, the bigger question is will banks allow tenures to shoot up to 400 months? crore
How it will hurt you
Principal Rs 25 lakh
Initial rate 11%
Tenure 240 months
Initial EMI Rs 25,804
Principal repaid Rs 14,707
in first 5 months
Principal left Rs 24.85 lakh
Rate after 5 months 11.5%
Remaining tenure if 269 months
EMI remains same
Increase in tenure 35 months
at the same EMI
Principal repaid in Rs 4,027
the 6th month
Principal repaid in Rs 1,8734
first six months
Principal left Rs 24.81 lakh
Rate after 6 months 12.25%
Remaining tenure if 393.5 months
EMI remains same
Increase in tenure 159 months
Extra money paid to Rs41 lakh
service the loan (Rs 25,804 x 159)
Total EMI to Rs1.01
be paid crore
Avdhoot Investment
Jul 29, 2008
Apr 21, 2008
Axis Bank Results- Declares 2008 March ending Quarter Results
Axis Bank net profit rose 70.56% to Rs 361.40 crore in Qtr End March of 2008 compared to Rs 211.89 crore during the same quarter Prev Yr 2007. Total operating income rose 47.46% to Rs 2015.43 crore in Qtr End March of 2008 compared to Rs 1366.77 crore during the same quarter Prev Yr 2007......
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