Inflation is viewed as a warning sign of a suffering economy by some, while it is viewed as a sign of a thriving economy by others.
But what does it actually mean? ⤵️
Mostly the term "inflation" is used to characterize the economic impact of rising oil or food prices.🛢️📈
If the price of oil rises from $75 to $100 per barrel, input prices for a factory would rise, as well the transportation expenses which will affect the final goods.
👈 Emotional Factor : Some people are not comfortable with a large loan and to reduce their stress they may want to get rid of the loan burden at the earliest.
Like people with unstable earnings or some serious health condition should first focus on debt repayment.
• Home loans
• Commercial Property Loans
• Loans Against Property
But what is a Mortgage loan?
Let's find out. ⤵
A mortgage loan is a secured loan in which the borrower offers an immovable asset such as a house or land as collateral to the lender in exchange for a loan.
The borrower is given possession and ownership of the asset for which they take the loan.
You can save 28 Lakhs while paying a Rs 50 Lakhs home loan 🤯
Let’s find out how ⤵️
Buying your own house is the best feeling especially when you have been paying rent for a very long time.
Also people feel it's better to pay home loan EMI than to pay rent to a landlord, as at the end of the loan tenure, you get the ownership of your dream home! 🏠
But, by the time u repay ur home loan, the interest cost runs into a sizable amt, sometimes 2x of your principal!
For e.g.: A loan of 50 Lakhs will cost you ~ 1 Crore incl. interest of 50.37 Lakhs (assuming 8% int. rate & 20 yrs tenure).