Deutsche Bank Shares Rise After Shakeup

ENLARGE Deutsche Bank managers held meetings and conference calls with employees in London, New York and Frankfurt, above. Photo: Martin Leissl/Bloomberg News By Jenny Strasburg and Jenny Strasburg The Wall Street Journal CANCEL Biography @jennystrasburg Google+ [email protected] Juliet Samuel Juliet Samuel The Wall Street Journal CANCEL Biography @CitySamuel [email protected] Oct. 19, 2015 1:46 p.m. ET 0 COMMENTS Deutsche Bank AG DB 2.48 % employees and investors on Monday positively graded the lender’s management and organizational overhaul, saying they welcomed clarity on how businesses will be judged going forward. They also said next week will be crucial to understanding Deutsche Bank’s

5 Simple Tricks to Ease through Your Loan Repayment

Have you applied for a loan to buy your dream home? If yes, then read on to discover how you can repay your home loan easily.

Home Loans Repayment

In today’s financial market, you can apply for a home loan to buy property without any hassles. There are many banks and financial institutions that offer loans at an affordable price. Recently, the Reserve Bank of India slashed repo rates by 25 basis points. As a result, home loan interest rates were reduced by many public and private banks.

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However, before you apply for a home loan you must always make sure that the scheme suits your financial position. Additionally, you should also check for tax benefits that you might be applicable for. This article talks about 5 simple tricks that will help you repay your home loan easily.

1. Step-Up Repayment Facility

Step-Up Repayment facility is the best repayment option if you are just beginning your career. In this repayment mode, the payments will be calculated based on your income every year. As your income increases, the installment amount will increase. This will help you pay small installments when you are earning less and gradually the amount will be increased as you move ahead in your career.

2. Flexible Loan Installment Plan

If your date of retirement is drawing nearer, a Flexible Loan Installment Plan would be the best option. Also known as step-down repayment option, the installment amount decreases year after year in this method. Initially, you will be asked to pay a high installment amount and it will gradually decrease during the loan tenure. You can pay off the higher installments when you are still working and after you retire, you can clear off the remaining small EMIs.

3. Tranche Based EMI

You can opt for Tranche Based EMI when you are buying an under construction property. In this mode of repayment, you can choose an installment amount that you wish to pay till you get full possession of your property. Banks offer this facility so that borrowers can keep clearing off their debt while the property is still under construction.

Once you pay a tranche based EMI, the interest amount levied on your loan amount will be deducted from the installment and whatever balance remains will be reduced from the principal amount. However, when you are opting for an under construction property, you should always check its legal status. Some housing websites in India, like CommonFloor.com list under construction properties that have been verified by a team of legal experts.

4. Accelerated Repayment Scheme

Accelerated Repayment Scheme offers you the benefit of adjusting your installment amount when you have additional funds. Therefore, if you wish to use the extra cash to repay your loan amount, you can do so by increasing the installment amount. This will enable you to clear off your debt faster and also help save interest charges.

5. SmartFix Home Loans

When you are applying for a SmartFix Home Loan, you will be liable to pay both fixed interest charges as well as floating interest rates. There is a lock-in period of three years, during which you will pay an installment amount that has been calculated using fixed interest charges. The fixed interest charge will be decided by your bank or lending institution.

At the end of three years, your monthly installment will be calculated using floating interest rates. A floating interest rate is one where the interest charges vary over the life of the loan. Hence, from the fourth year onwards, a floating interest rate will be applied on the remaining principal amount. If there is a reduction in the floating rate, you will be able to save money by paying less interest.

Now that you have learned about the 5 different ways in which you can repay your home loan easily, go ahead and apply for a loan. Remember to state your conditions to the lending institution before you apply for a loan and always read the bank documents carefully before signing on the dotted line.

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