Saturday, 26 August 2017

My Strong Stock Recommendations for Year 2017 - Part 2

Posted by RaviKumar Nama 3 Comments
(Published as on 26-Aug-2017)
This post is a continuation to my earlier post My Strong Stock Recommendations for Year 2017 posted on 30-Oct-2016. I am hoping this is the right time to update my recommended stocks. Because of various National and International factors, stock markets are very volatile in year 2017. Probably this volatility may continue in the coming year as well. Last month Markets are over responded with US-N.Korea war signals and Nifty fell down below 10000. But with the good monsoons and stable Government in India,many experts believing that there will be minor corrections in the Market, but Markets will move further in the coming years. However, stocks with good fundamentals will definitely yield good returns in the long run. So, investors with long term horizon need not worry about the Market corrections and to continue buying in fundamentally strong stocks. In this article, I am reviewing on my earlier recommendations and giving my remarks to you.


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Thursday, 17 August 2017

Top 5 Tips To Know About Your Home Loan Interest

Posted by RaviKumar Nama
(Posted By Vanshika Kumari on 17-Aug-2017)

Purchasing a house is a dream that everyone has. When you transform that dream into a reality, you are filled with joy and pride. However, the dream is often overshadowed by the massive costs involved in the purchasing of a property. Home loans can pave the path for you from the dream to reality easily. You can use the loan amount to buy the house of your choice. However, you must keep in mind certain things before you go for a loan. The most important factor that must be taken into consideration while choosing a home loan is the rate of interest associated with it. Different banks offer home loans that can be availed by you after you prove your eligibility towards it. We will see some tips that one should know about Home loan interest.

Top 5 Things to Know About Your Home Loan Interest Rates:

At present, the housing loan interest rates have gone down substantially. Thus, a small difference between the rates offered by different lenders can mean quite a lot for you. You may think that you have got the best deal ever with a particular lender. Some of the things that you must remember are mentioned in this article. These 5 simple  tips can help you bring down your current Home loan interest rates even more.




1. Shorter Duration: 

A shorter tenure of the home loan will bring up the equated monthly installments that you pay. The interest is collected first by the bank. The principal portion of the EMI is very small at the start of the loan.

  • As the tenure progresses, the interest lessens and the principal payment becomes greater. 
  • Banks first recover interest then principal. 
  • Your total payment that needs to be paid back to the bank will reduce significantly because there is less interest charged on the principal as the duration to charge interest is shorter.

2. Set Targets for EMI:

Ensure that you pay an extra equated monthly installment amount each year. This will definitely help you to reach the end of the line way before you expect. In case you have surplus sum left in hand at the end of a particular month, ensure that you add some more to the EMI. This will bring down the principal and interest amount for you.

3. Increase the EMI Yearly:

Make a habit to give a boost to your EMI payments after every appraisal that you get. The target should be at least a 5% increase in the EMI payments. You will effectively reduce the amount of interest that you have to pay in the long run.

4. Refinance the Home Loan:

If you come across a bank or an NBFC that is ready to offer a rate lower than your current lender, consider switching to the lender offering the lower interest rate. The repayment of interest can be reduced at ease by refinancing the housing loan at a rate lower than the current rate. Ensure that you check things like prepayment penalty and legal fee before you plunge to refinance the home loan.

5. Move to MCLR:

After April 2016, all the banks have moved their base rate to marginal cost of funds based lending rate or MCLR. This allows the borrower to avail benefits from the rate changes. In case you took the loan before April 2016, request your bank to switch the loan to marginal cost of funds based lending.

Home Loan Interest Rates Offering By Different Lenders:

The following table will give you an idea about the Home Loan Interest Rates offered by different lenders currently. The table will also tell you the maximum and minimum loan amount that can be availed by you:


Conclusion:

Everyone tries to avail the lowest rate possible with their housing loans. Ensure that the one you go for allows you to comfortably cruise through the month without facing any financial crisis at any given point of time. You must aim to make repayments of the principal amount as early as possible. That way, the equated monthly installment will not feel like a burden to you. Ensure that you do a lot of research before you pick a particular home loan.
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Sunday, 13 August 2017

Greentape - A Best Mobile App for Your Digital Investment Account

Posted by RaviKumar Nama
(Published on 13-Aug-2017)
In our country, everyone focuses on making savings which can be utilized by their family members whenever required. As a mode of investment, we choose different financial instruments such as Insurance, saving accounts, Provident fund, bonds etc but have you ever thought, “How many such instruments successfully deliver their benefits to investment makers or family members??”. At present, almost all the financial Institutions have been constantly ignoring the problems being faced by the beneficiaries. However, they are as much to be blamed as ourselves. We, at times, fail to realize that financial Instruments subscribed or bought for our loved ones may not provide them the desired benefits. Albeit, even if it provides sufficient coverage, the same may be inordinately delayed and fails to serve the purpose. Not to forget the painstaking effort required in getting those claims. When I am searching for any solution to overcome this problem, I heard about a mobile app, Greentape, which  will address the problems facing by the beneficiaries. We will see what is Greentape and its features in this post.





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Tuesday, 30 May 2017

Top 3 Tax Saving / ELSS Mutual Funds in 2017

Posted by RaviKumar Nama 7 Comments
(Published on 30th May 2017)
Most of the people think that Investments for Tax savings will be done at the end of the financial year and used to take wrong investment products in hurry to save the tax for that year. Exactly at this point, the agents of various Insurance companies enter and lure the customers with extra-ordinary promises and will sell out their expensive Insurance products. These Insurance products will not help you out in not only saving your tax but also dent your pockets with huge premiums every year. It is always advisable to think about  your Tax saving products at the beginning of the financial year. This approach will give you ample time to identify the right product. But, what are the good options available for Tax saving in the market which not only save your tax but also provide good yieldings in the long run?

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Friday, 24 March 2017

2 Good Ways To Reduce Your Existing Home Loan Interest Burden

Posted by RaviKumar Nama 5 Comments
(Posted on 25-Mar-2017)
Post to Demonetization, Banks are flooded with cash deposits. This huge cash reserves giving cushion to banks to reduce their lending rates. Hence, Banks started reducing the interest rates from the beginning of this year. Especially, the retail rates that are linked with MCLR (Marginal Cost Based Lending rates) are reduced considerably. However, Banks are reducing the interest rates only for New customers and not for the existing customers. Many people who are already availed Home loans are expected the benefits of Interest rate cuts, but Banks did not transfer the benefits of Rate cuts to the existing customers. Currently Banks are issuing home loans at 8.6% - 9.1%. However, old home loan interest rates are in the range of 9.5% - 11%. Hence, many people are looking the options to reduce their existing home loan interest rate burden. We can consider the following 2 options to reduce your existing  home loan interest burden.

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Monday, 13 March 2017

3 Best Mutual Funds To Invest For Long Term Upon BJP Victory in UP

Posted by RaviKumar Nama
(Published on 13-Mar-2017)
A massive victory for Narendra Modi led BJP in recent UP elections is really a cheer to Stock Markets. Analysts are expecting this victory would give confidence to BJP's second term in the next Central elections which will be held in 2019. This means that the current policies would continue for next 5 - 7 year period. This unexpected land slide victory in UP would give positive indication towards carry out of reforms as well as the Government focus towards Infrastructure and Irrigation sectors. Because of the lack of majority in Rajya Sabha, many reforms are stuck in these sectors. Now, Government may get an edge in Rajya sabha over a period of time, and some of the reforms that are stuck may see light of the day in the coming days. Considering all these factors, I am suggesting 3 best Mutual funds to invest for long term. These 3 Mutual funds would yield better results than other funds in the respective sectors.


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Thursday, 23 February 2017

3 Best Large cap Mutual Funds to Invest in 2017

Posted by RaviKumar Nama
(Published on 23-Feb-2017)
Many readers asking me to provide best large cap Mutual funds to invest for their long term goals. Most of my readers are low risk appetite and conservative investors. The large cap mutual funds are less risky than the mid-cap and small cap funds.  These funds are suitable to the person who do not want to take a higher risk. These funds are also best suitable for the investors who wanted to invest through SIP approach for long term and to yield Inflation-beat returns. I am providing 3 Best Large-cap Mutual funds to invest in 2017. Based on some parameters I have selected these Best Large cap Mutual funds which can help to get superior returns in the long run.


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