This Pilot Virtual trust formed behalf BPO & IT employees.....provide your support and share your thoughts... Trust activities would be 1.Monetary help during Jobloss. 2.Monetary help during illness if it is LOP for breadwinner. 3.Group Medical Cover. 4.Supporting our communities. 5.Last but not least...To form Research park which will help to research in renewable energy e.g Solar... for wellbeing of BPO & IT employees. Please post your views as well and dont miss to put this on your wall...based on your response we can think of real trust formation...
1) While taking the home loan, definitely negotiate that you would not be charged any Pre-payment penalty for repaying early
2) If your house costs 32 lakhs, loan is of Rs. 25 lakhs, your EMI is 23,000 per month. Then apart from Rs. 23,000 per month, pay Rs. 10,000 extra every month
3) This way instead of 17 years, your loan would be repaid in 8.5 years.
4) Dont think this is difficult at all. Because home loan and EMI remains same. But your salary keeps growing.
5) It definitely makes sense to repay early and keep loans out of the way
Increasing a EMI could be a better option but do not ignore your insurance, afterall that what is going to work in case of any casualty. Never put all your money at one place (home loan in this case). always keep some savings with you. you should have at least 6 EMI amount balance in your savings account.
Re: Best way
by Amithkumar on Oct 20, 2011 03:24 PM
first u should be a bachelor till u die. Savings is a way we are protecting our family members and to improve our living. Else we can live as tribes in caves. If you need to comment in rediff u need to do all this. think.
