One can continue to reside in the property and the loan, along with the interest gets repaid when the house is sold off after their demise or they choose to move out of the house.

The State Bank of India (SBI) hiked its marginal cost of lending rate by 10 basis points, effective August 15, 2024.

An income tax clearance certificate (ITCC) is issued by the state revenue department to certify that the individual has cleared the tax dues, if any.

Are you looking for a loan after retirement? You must consider several factors such as loan repayment period, eligibility, interest rate, etc. After retirement, how to choose the appropriate loan instrument?

Wouldn’t it be better to use the return earned on your investments to repay your loan EMIs? A systematic withdrawal plan (SWP) can be used to repay the loan EMIs, but you first need to understand how to do it.

Usually, it’s advisable to close all your loans before you retire. After retirement, if you still have an outstanding loan and fail to repay the equated monthly instalments on your loan on time, it leads to a loan default. In the case of a home loan, a default can put retirees in a serious financial situation

Having too many loans can create many problems, including keeping tabs on timely repayment and changes in the interest rate scenario. Clubbing multiple loans into one or two bigger loans can provide seniors with several financial benefits

Your retirement goalpost may change for factors like the working years left, health condition, lifestyle, income growth, expenses, debt, etc., so how can you know how much to save for old age?

You can use your house for regular payments after you retire. A reverse mortgage loan is such a product which allows you not only to get a regular payment but also the same house to live in till your death