Housing For All: How Mutual Funds Can Help You In Buying Home?
Investors India|May 2017

Make use of different varieties of mutual funds schemes to effectively use your investments in buying a home for your own in addition to arranging a down payment for the home loan.

Vishwajeet Parashar
Housing For All: How Mutual Funds Can Help You In Buying Home?

One of the first big ticket expense that most of us face in our life is owning a home. To own a roof over one’s heads is certainly not a tough job considering the financing option available these days. Buy it outright if you have the funds at your disposal else borrow from bank or other lending institutions. Presently, home loans are anywhere between 8.5-9 per cent per annum calculated on monthly reducing basis.

How much of self-finance?

Home, however, cannot be entirely financed by lenders. As per new RBI rules, one has to pay-up at least 10 per cent (earlier it was 20 percent) of property value as down payment to the lender and the balance i.e. 90 percent can be financed. This holds true if the loan amount is less than Rs 30 lakh. For loan amount between Rs 30-Rs 75 lakh, the minimum down payment is 20 percent of loan amount, while for loans above Rs 75 lakh, the minimum down payment is 25 percent. So, on a Rs 60 lakh property, the down payment comes to Rs12 lakh, while the balance Rs 52 lakh can be availed as loan.

هذه القصة مأخوذة من طبعة May 2017 من Investors India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة May 2017 من Investors India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من INVESTORS INDIA مشاهدة الكل
Thematic Fund Or Sectoral Fund, Which Fund Suits You?
Investors India

Thematic Fund Or Sectoral Fund, Which Fund Suits You?

A thematic fund is a type of mutual fund that focuses on investing in companies based on specific themes or trends.

time-read
2 mins  |
October 2024
Be Kind To Your Kidneys
Investors India

Be Kind To Your Kidneys

The kidney is a vital organ in our body which is four inches long and two and a half inches in width.

time-read
5 mins  |
October 2024
Have You Included A Passive Fund In Your Portfolio Yet?
Investors India

Have You Included A Passive Fund In Your Portfolio Yet?

The assets under management (AUM) of passive funds recently crossed the Rs. 10 lakh mark. While a significant portion of this money comes from institutional investors, such as the Employees Provident Fund Organisation (EPFO), these funds are also gaining popularity among retail investors.

time-read
1 min  |
October 2024
Mutual Fund
Investors India

Mutual Fund

1. SEBI allows mutual funds to buy and sell credit default swaps (CDS)

time-read
4 mins  |
October 2024
Insurance News
Investors India

Insurance News

1. The finance minister has launched a new NPS scheme named NPS Vatsalya

time-read
1 min  |
October 2024
ASK THE EXPERT
Investors India

ASK THE EXPERT

Dear Sir, I attended your webinar on post-retirement financial planning. As advised by your good self, I invested in NPS after retirement.

time-read
3 mins  |
October 2024
Market Mystery: Some Important Investing Lessons from Fund Managers Themselves
Investors India

Market Mystery: Some Important Investing Lessons from Fund Managers Themselves

Mr. Mahesh Patil is the Chief Investment Officer (CIO) of Aditya Birla Sun Life AMC Limited. As the CIO Mahesh oversees INR 3 lakh crore of assets under management.

time-read
6 mins  |
October 2024
How to make a cautious entry into equity funds during a bull market
Investors India

How to make a cautious entry into equity funds during a bull market

The number of mutual fund folios has been rising, with flows via the systematic investment plan (SIP) route reaching new highs.

time-read
4 mins  |
October 2024
All that you need to know to kickstart your retirement planning process
Investors India

All that you need to know to kickstart your retirement planning process

We all enjoy planning for the future. It’s a good idea to plan ahead of time for anything, from the day’s activities to a vacation.

time-read
5 mins  |
October 2024
5 Steps To Achieve Your Financial Goals
Investors India

5 Steps To Achieve Your Financial Goals

From a beach house, a Jaguar, to traveling the world – there are many things in life that we want to accomplish.

time-read
3 mins  |
September 2024