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What is an unsecured loan?
An unsecured loan is a loan that is not backed by collateral or security. These loans are based solely upon the borrower’s credit rating. As a result, they are often much more difficult to get than a secured loan, which also factors in the borrower’s income. An unsecured loan carries less [...]

The RBI’s  final guidelines on base rate will ensure that existing home loan borrowers get the full benefit of any reduction in interest rates. While it is too complex to understand how the base rate will be determined, the essence seems to be that the banks cannot discriminate between old borrowers and new ones. This will [...]

One of the positive aspects of a housing loan is it offers several income tax benefits to the person taking a home loan. These benefits cover the housing loan interest as well as capital component of the home loan repaid through equated monthly instalments ( Home loan EMIs) over the tenure. But many a time it [...]

Finance Minister Pranab Mukherjee’s recent budget announcements have come as a relief to the taxpayer. Under the revised tax structure, incomes between Rs 1.6 lakh and Rs 5 lakh will attract 10 per cent tax, while on incomes between Rs 5 lakh and Rs 8 lakh, 20 per cent tax will be applicable. For incomes [...]

Most women have come a long way. In the life that they lead, in the careers that they follow, in the responsibility they shoulder, in the roles that they play, both in the world, and as part of the family. But, when it comes to the basics of finance, women seem to be on a [...]