Download Tax Saving Mutual Fund Application Forms
Invest In Tax Saving Mutual Funds Online
Leave a missed Call on
94 8300 8300
Do not Get Confused by Flat Interest Rates
Lenders project the flat rate of interest even on loans where the amount is reducing with every EMI.
Taking a loan is easy today.
Just sign on the dotted line and walk away with the money. We just look at the EMI and the interest rate without delving into the small print of the loan agreement. This can be a terrible mistake because lenders entice buyers by quoting a "flat" rate of interest even if the loan is being paid in instalments. The customer starts repaying the loan from the very next month so a flat rate of interest is not applicable in such cases. A reducing balance rate tells you how much you reall shell out for the loan. As the table shows, the 10% flat rate of interest will actually work out to more than 18% for the customer. Another trick is to charge advance EMIs. This can push up the effective interest rate even higher. The advance EMI means that the effective loan is smaller than what you are being charged for.
What you should do:
Banks will continue to find ways to confuse the borrower. Instead of comparing the quoted interest rates, use the EMI amount to compare loans.
BORROWING WITHOUT A NEED
Many of us have some loans running, whether for a house, a car, a child's education or an appliance. But some even borrow though they don't have to. The offer of a pre-approved loan from the bank is something they can't resist.
What you should do:
Unless you are buying an appreciating asset (like a house) or something that you really need (like a car), you should avoid taking a loan. Have some sort of a self regulation that you will not borrow for discretionary spending (like a foreign holiday or a smart phone). Remember, the best way to earn 15-18% returns is by not taking a loan at that rate of interest.
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them
OR
You can write back to us at
PrajnaCapital [at] Gmail [dot] Com
---------------------------------------------
Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs
Download Mutual Any Fund Application Forms
---------------------------------------------
Best Performing Mutual Funds
- Largecap Funds Invest Online
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Franklin India Bluechip
- ICICI Prudential Top 100 Fund
B. Large and Midcap Funds Invest Online
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Birla Sun Life Front Line Equity Fund
- Franklin India Prima
C. Mid and SmallCap Funds Invest Online
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Birla Sun Life Dividend Yield Plus
- SBI Emerging Businesses Fund
- HDFC Mid-Cap Opportunities Fund
- ICICI Prudential Discovery Fund
D. Small and MicroCap Funds Invest Online
- DSP BlackRock MicroCap Fund
- Franklin India Smaller Companies
E. Sector Funds Invest Online
- Reliance Banking Fund
- Reliance Banking Fund
- ICICI Prudential Banking and Financial Services Fund
F. Tax Saver Mutual Funds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
- DSP BlackRock Tax Saver Fund
- Reliance Tax Saver (ELSS) Fund
G. Gold Mutual Funds Invest Online
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
- Birla Sun Life Gold
H. International funds Invest Online
1. Birla Sun Life International Equity Plan A
2. DSP BlackRock US Flexible Equity
3. FT India Feeder Franklin US Opportunities
4. ICICI Prudential US Bluechip Equity
5. Motilal Oswal MOSt Shares NASDAQ-100 ETF